McAleer & Rushe has signed a £52m Design and Build Contract with Threesixty Developments Ltd to deliver a 1,000 bed student housing scheme in Portsmouth.
Threesixty, (formerly known as Knightsbridge Student Housing) is run jointly by Bob Crompton and Oaktree Capital Management and was launched as a new brand last year to reflect a fresh era for the business as it continues to conquer the student accommodation market in the UK and abroad.
Catherine House, on Stanhope Road is a student-led mixed-use scheme designed by McAleer & Rushe and Belfast-based architect Urban Innovations. McAleer & Rushe and Urban Innovations also advised during the work up and planning stages of the scheme. It involves the conversion of the local landmark office Zurich House to provide 405 bedrooms, and the construction of a new purpose-built, 595 bedroom student accommodation block extension, close to the train station, with ground floor retail. It will also boast a newly landscaped public boulevard that opens on to Victoria Park.
Construction of the student housing scheme is set to complete in the Summer of 2017.
Martin Magee Managing Director, McAleer & Rushe Contracts UK said:
“This contract marks an important milestone in the redevelopment of the now derelict Zurich House, which has been an important talisman building for many in Portsmouth. This regeneration will have a significant revitalizing impact of this area around Portsmouth & Southsea Station. Our new partnership with Threesixty is leading to further opportunities in development and construction for both companies in the UK and Ireland.
“McAleer & Rushe is also currently working on our first project together. It is an £18m contract to build Threesixty a 356 bedroom 8-storey student accommodation scheme – Back Of The Walls – Southampton, which is set to complete in August 2016.”
Bob Crompton, CEO of Threesixty Developments Ltd, said:
“We’re thrilled to be working together with McAleer & Rushe on this exciting development in such a key position in Portsmouth’s city centre. Following extensive consultation with the public and Portsmouth City Council we chose a design that will retain the essence of Zurich House and leave the Portsmouth skyline as so many people know it today. The new boulevard will also provide well located retail space and open up access to Victoria Park, we hope that the residents of Portsmouth will like the new addition to their city.”