Engie and Equitix have a long-term deal to expand and renew the Pritchatts Park student accommodation village.
The project involves the construction of 496 new student rooms and an accompanying 482-space multi-storey car park. In addition, the 734 existing rooms will be refurbished.
Under the contract, Engie will provide facilities management services for 50 years, providing ongoing repairs, security and cleaning.
The £200m contract value is £75m higher than the £125m value advertised to prospective bidders in the contract notice last year.
The new accommodation will be constructed in the form of townhouses designed by Glancy Nicholls to complement existing buildings in the area. The overall scheme will be powered and heated by electricity from renewable sources. The refurbished building will be heated by air source heat pumps.
Building work is set to begin in the summer, with completion expected in August 2023.
The arrangement follows similar developments for the University of Leicester and Kingston University. Equitix is the majority owner in the Pritchatts Park joint venture, with Engie and the University of Birmingham taking minority stakes.
Jake Fellows, divisional development director for Engie UK & Ireland, said: “This is an exciting project for Engie, as it gives us the opportunity to showcase our wide-ranging placemaking capabilities across energy, services and regeneration, as well as demonstrating our long-term commitment through the investment model. It’s also great that we can continue our strong partnership with Equitix, which is already having such a positive impact in Leicester and Kingston.”