GMI Construction Group has been contracted to build a purpose-built student accommodation (PBSA) development in York, UK.

Awarded by Olympian Homes, GMI has valued the contract at £50m. The 80,000ft² property, known as Rialto House, is located in the Fulford area.

Rialto House will comprise a four-storey structure encompassing 275 bedrooms alongside amenities such as a gym, yoga studio, games room, and cinema.

It will also have integrated cycling parking and landscaped courtyards.

GMI Yorkshire regional director Andrew Hurcomb said: “We are delighted to have secured this contract with Olympian Homes, which is allowing us to continue to contribute to the creation of much-needed purpose-built student accommodation in York. 

“Rialto House is a great location, close to the city centre and the university campuses and will support the city in attracting students who want to study in this beautiful and historic city.”

Olympian is delivering this latest PBSA project in collaboration with funder Cain International.

Construction works are set to commence in the coming weeks after the conclusion of archaeological works.

Olympian development director and COO James Lindridge said: “This marks the delivery phase of another scheme for Olympian Homes and aims to address the undersupply of high-quality, purpose-built student accommodation within York.

"It has been a pleasure to work with the [city] council, local stakeholders and GMI to deliver this scheme.”