The £140m contract covers the design, build, operational services and maintenance of the scheme in south London.
Equans’ involvement starts with the demolition of a warehouse on Glengall Road in Southwark to make way for the new build and concludes after a 50-year facilities management contract.
The 15-storey halls of residence will provide 676 bed spaces, with facilities including a gym, courtyards, roof terraces, shared kitchens, a cinema room, laundry room, amenity space and staff offices.
Work began on site this month and the accommodation is expected to be ready for the September 2024 term start. The project will be structured as a public private partnership, with LSE holding a 19.9% stake and DIF Capital Partners holding the majority 80.1% stake in the special purpose vehicle, Spark Living (LSE Glengall Road) LLP. Over £100m of long-dated funding has been provided by Pension Insurance Corporation, a UK-based specialist insurer.
Colin Macpherson, divisional chief executive of Equans UK & Ireland, said: “We have a substantial portfolio of universities, which we are actively supporting to achieve their net zero carbon targets, and currently manage more than 10,000 student rooms across the UK, so LSE is fantastic addition."
Equans is the new name for Engie’s technical services operations. It rebranded last year.
It is currently in the process of being taken over by Bouygues, a deal that is expected to complete later this year.
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