A £530 million programme to redevelop the University of Manchester's Fallowfield campus has reached financial close, paving the way for 3,300 high-quality, sustainable student rooms with a range of modern shared amenities.

The scheme will be delivered, operated and maintained through a 50-year partnership between the University, Equitix, GRAHAM and Rothesay, with cornerstone funding provided by Rothesay, the UK’s largest specialist pensions insurer. The partnership brings together long-term investment, development, construction and operational expertise to support the University's strategic objectives and enhance the student experience.

Set to become the world's largest single-phase Passivhaus-certified purpose-built student accommodation scheme, the project targets operational energy use around 50% lower than conventional new-build student halls. It will combine exceptionally low energy demand with net zero carbon operations.

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The residences are designed as a wellbeing-led living environment, prioritising daylight, air quality, acoustic performance, accessibility, overheating protection and access to nature. A comprehensive programme of biodiversity, wellbeing and social value measures is also planned.

As well as representing a significant long-term investment in Manchester, the development is billed as the UK's largest pre-cast MMC-centred project, setting a new benchmark for sustainable student living and supporting the local economy over the life of the partnership.

Barra Mac Ruairí, Chief Property Officer at the University of Manchester, said: "We are very pleased that by working in true partnership we looked for innovative solutions to opportunities and the inevitable challenges which working at such scale presents. Getting to this milestone was a tremendous endeavour. Our new Fallowfield residences are going to be among the most sustainable in the world and are designed to deliver an outstanding student experience. I'm looking forward to working with our partners as we continue to develop the site."

Equitix said the project exemplifies shared ambition and long-term commitment, with the consortium focused on delivering value for students, the University and investors while strengthening investment in the North West.