News: Watpac wins student accommodation contract

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Watpac Limited (ASX:WTP) has won a $60 million contract to build student accommodation for University of Melbourne. 

 

The property developer says the award is for Leicester Street Student Accommodation Project for Campus Living Villages and University of Melbourne. 

 

Watpac will work to deliver a 14 level, 648 bed student accommodation facility as part of the design and construct project. 

 

The construction will start straight away and is slated for completion by the end of 2015 in time for the 2016 school year. 

 

Watpac reported a net profit of $7.4 million in the first half of the 2014 financial year.