The government has lavished praise on an institutional investment in student accommodation in Manchester.

The £530 million redevelopment project will be delivered through a 50-year partnership model between The University of Manchester, investment firm Equitix, student building contractor GRAHAM, and pensions insurer Rothesay.

The partnership will provide 3,300 eco-properties plus a student bar, social and study spaces, music practice rooms and what the operators call “dedicated wellbeing facilities.”

The project is the world’s largest single-phase Passivhaus student accommodation development.

It’s won government support with pensions minister Torsten Bell saying: “Britain needs to get back into the business of investing in its own future, and we are supporting the building, investing and innovating that makes that happen. 

“This significant commitment to sustainable student housing in Manchester shows how institutional investment can achieve that while delivering strong long-term outcomes for savers.”