£100M Kent PFI housing project reaches financial close

An artist's impression of one of the housing developments. Photo courtesy of Galliford Try
An artist's impression of one of the housing developments. Photo courtesy of Galliford Try

Galliford Try has reached financial close with Kent County Council on the Excellent Homes for All PFI scheme, worth £100M to the firm, with work expected to get under way immediately.

 

Financial close follows the house building and construction group’s appointment as preferred bidder for the 25 year project in December 2013. The £38M construction contract element of the deal will involve the provision of seven schemes of supported housing across the county.

 

Under the contract approximately 240 homes will be built by Galliford Try’s Partnerships business to provide supported living for vulnerable adults across Kent, as well as communal facilities.

 

Galliford Try’s Facilities Management (‘FM’) business will provide ongoing hard and soft facilities maintenance and lifecycle management services in operating the scheme accommodation. The FM contract is worth over £36M, providing approximately £1.5M of additional index linked income per annum to the Group.

 

Housing Management services for the project will be provided by Galliford Try’s partner, the West Kent Housing Association.

 

In parallel, the project will involve the creation of a special purpose vehicle managed by Galliford Try Investments to develop social housing for vulnerable people within Kent.

 

Galliford Try Chief Executive Greg Fitzgerald commented: “We are delighted to have reached agreement with our partners at Kent County Council on this initiative and are now able to get the project under way. Extra Care remains an important sector for Galliford Try and we look forward to providing the high quality homes and facilities that Kent’s residents deserve.”

Please rate

Comments 

Name
Email
  Ctrl + Enter

Most Read

The government has cut £1bn from the rail infrastructure budget

The government has cut £1bn from the rail infrastructure budget

Rishi Sunak had previously promised record infrastructure investment as part of the government's "levelling up" agenda. Until now, Network Rail's "enhancement" budget for the five year period from 2019-24 had been set at £10.4bn. But, this week rail minister Chris Heaton-Harris said

Farringdon-first Central London station to complete construction

Farringdon-first Central London station to complete construction

Construction work at Crossrail’s Farringdon station has come to an end.The station becomes the first central London station along the new line to reach the T-12 landmark; this means the station is substantially complete and it is now considered to be 12 weeks away from handover to

TfL allocates extra cash to fix ageing bridges and tunnels

TfL allocates extra cash to fix ageing bridges and tunnels

Of that, TfL’s major asset renewals programme will receive a £135M additional investment to repair key bridges and tunnels. TfL figures show that about 200 out of 500 bridges and other structures that it maintains in the capital have sections in "poor" or "very poor" condition. The

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.