Valeo awards £33m student accommodation project to ISG

European student accommodation provider Valeo has awarded a £33m construction project in Sheffield to ISG.

This is Valeo’s first project in the UK and will see the construction of a 14-storey building near two universities in the city.

The building will offer 586 beds and communal facilities such as a central club lounge with an extensive balcony overlooking the city on the ninth floor. It will also provide study spaces, a café, private dining areas, a cinema and a gym.

The building will accommodate clusters of four, five and six beds, as well as offer studio apartments with en-suite facilities. Bedrooms will have access to the latest technologies, including Wi-Fi.

Valeo managing director Peter Haspel said: “We are delighted to partner with ISG to create our latest student community building in Sheffield.”

The building will offer parking areas and spaces for seven retail units on the ground floor.

ISG has pulled down an existing garage structure on the site and is set to start the construction of the concrete frame building in the coming weeks. The project is slated to complete next year.

ISG regional director Tim Harvey said: “The global popularity of our higher education institutions sees demand at record levels for places and high-quality student accommodation at our top universities.

“Purpose-built student residential facilities play a hugely important role in the overall housing mix within our cities, and this major project signifies that Valeo has ambitious development plans across the UK.”

ISG is also delivering a £40m 675-bed scheme in central Cardiff and a 412-bed £39m mixed-use scheme in Liverpool.