£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 

Ctrl + Enter

Most Read

How candidates can approach recruiters and land that job!

How candidates can approach recruiters and land that job!

If you go to a career fair, there are bound to be tons of recruiters and eager students vying for limited positions. However, the big question is, how do you stand out from the other multitude of job seekers?   It is true that not everybody is great at networking and not everybody knows how

How to make giant strides in the water industry

How to make giant strides in the water industry

A cumulative total of 44 billion pounds will reportedly be spent by water companies in England and Wales over a management period that spans over a five-year period up till 2020. It is expected that midway through this management period; several water companies would have enough capital to execute

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.