Construction of Falmouth PBSA Scheme Suspended

Building works have been delayed for a student accommodation scheme in Penryn after construction company Caledonian Modular entered administration. Alvarez & Marsal (A&M) were appointed as administrators earlier in the March.

The scheme, which is situated on Kernick Industrial Estate, had originally gained planning permission in 2018. It was scheduled for opening in 2020 before delays impacted construction.

The 528-bed housing scheme, called Studytel Penryn, was due to host students from both Falmouth University and the University of Exeter. The building was planned to contain a mix of single bedrooms, self-contained studio flats and cluster apartments alongside shared kitchens and communal spaces.

A&M commented on the administration: "Mark Firmin and Mike Denny of Alvarez & Marsal were appointed as joint administrators of Caledonian Modular Limited on March 8, 2022. The administrators are continuing to trade the business while exploring all possible options for its future, including finding a new buyer.

"Regrettably, 28 employees - around 10% of the total workforce - have been made redundant as part of the administration process. Every effort will be made to support them during this difficult time."