£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

Brexit and its Effect on Recruitment in the UK

Brexit and its Effect on Recruitment in the UK

British Exit or commonly referred to as ‘Brexit’, refers to UK’s decision on the 23rd of June, 2016, via a referendum to cease to be a member of the European Union (EU). Although, the votes in the referendum were unexpected and its effect on the British economy as a whole was

Employment opportunity for an engineer in a smart city

Employment opportunity for an engineer in a smart city

Smart cities go by several names - flexcity, digital city, intelligent city, ubiquitous city amongst others. Still, it sounds like a utopian concept that is gradually forging its way into reality. Although smart cities have been associated with various definitions, we will for the purpose of this

How do we balance innovation with security?

How do we balance innovation with security?

With exponential growth in information technology, IT leaders are still fighting to keep pace with the industry; given its recent turmoil and security bottlenecks that have indeed become a cause for concern in recent times. It would also be right to imply that information security has not enjoyed

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.