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9 June 2006
Bovis Lend Lease Reaches Financial Close On Sheffield University Accommodation Project
Lend Lease Corporation Limited (“Lend Lease”) today announced that a special purpose company established by its subsidiary Bovis Lend Lease Holdings Ltd and HSBC Infrastructure Fund Management has achieved financial close with the University of Sheffield on a £160 million (approximately A$375 million) project to build and manage a new student village over a 40 year term.
Bovis Lend Lease Holdings Ltd has committed £8.3 million (approximately A$20 million) of equity and loan stock to the project company.
The project will involve the construction of 38 new residential apartment buildings and a refurbishment programme of existing dwellings to be carried out by Bovis Lend Lease Limited over the next three years. On completion the project will provide accommodation for up to 4,200 students.stock exchange
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