School for Africa and Help for Heroes
After the third annual charity drinks evening and the most successful yet, Equitix, Deloitte, CMS and Evercore would like to thank everyone who attended or supported them to raise money at Good Enough College this year. The effort made by all was remarkable resulting in us raising over £35,800 which has been split between the two charities. A HUGE thank you to all!
School for Africa
We have been supporting Endana Secondary School near Nanyuki in Kenya since our inaugural Christmas drinks in 2010. In the past two years our fundraising efforts have helped to build and equip a science laboratory at Endana allowing the pupils to begin studying towards the national examinations which is a great step forward in their education programme. However, the work doesn’t stop there! The school is continually forward thinking and have a strategy in place, which, amongst other proposals, includes plans for a number of developments to further enhance the lives of the children at Endana. We will keep you updated with how the money will be utilised in the upcoming months.
Help for Heroes Alongside supporting Endana secondary school, we were also fund raising once again for Help for Heroes. H4H was set up in 2007 to do something practical to help the men and women of our Armed Forces who are injured while serving our country. Now 5 years old, they have raised over £150 million pounds in support of the country’s wounded and we are very grateful to have been able to continue contributing to their cause.
Green Investment Bank Opens for Business
Business Secretary Vince Cable has declared the UK Green Investment Bank plc (UK GIB) officially open for business Equitix were pleased to attend and support the official launch of this ground breaking institution which has been funded with £3 billion of Government money and will mobilise additional private capital to make a significant contribution to the development of a green economy.
This follows on from the announcement made in August by Business Secretary Vince Cable and the appointment of Equitix as part of paving the way for the UK Green Investment Bank, UKGI committed up to £100 million to two specialist fund managers. Business Secretary Vince Cable said:
"The appointment of two fund managers with £100 million to invest in the non-domestic energy efficiency infrastructure sector shows that we are making good progress". Equitix will make and manage investments in non-domestic energy efficiency projects. These investments could range from energy performance contracts to measures to reduce energy consumption in public and private sector buildings.
To view the full report on the launch of the Green Investment Bank, follow this link:
To find out more about Equitix’s appointment as a specialist fund manager, follow this link:
Construction jobs boost for South-West Scotland
Formation of South-West hub company unlocks £600m pipeline of construction projects Milestone reached with the formation of the fifth and final hubCo
Over £600m of public sector infrastructure is to be delivered in the South-West of Scotland in next ten years following the formation of a joint venture company - ‘hub South-West Scotland Ltd’ - with the Programme Board of the South-West hub Territory, comprising 16 public bodies* and the Alliance Community Partnership* (ACP).
Creation of the South-West hubCo will be welcomed by construction firms across the region as a boost to securing future work.
The deal, struck by six local authorities, three health boards, emergency services and other public bodies in the Ayrshire, Lanarkshire and Dumfries & Galloway areas in conjunction with its partner ACP will help secure long-term local employment opportunities.
Bill Martin, programme director of the South-West hubCo programme board, explained: "The structure of this relationship means that it will bring real opportunities to local businesses as over 80% of the construction value will be competitively tendered to SMEs on the supply chain. We are delighted with the outcome of the agreement which will deliver innovation and better value-for-money on all our construction projects."
Nick Parker, chief operating officer of Equitix and a Director for Alliance Community Partnership, stated: "We are very much looking forward to building a successful and long-lasting partnership with all organisations involved in the South-West hubCo, delivering much-needed projects and investment in the local communities."
"Importantly, the formation of the South-West hubCo will facilitate the creation of new employment and training opportunities for local companies in challenging economic times. This starts with the recruitment of a local General Manager, please contact firstname.lastname@example.org if you are interested in applying."
John Hope, accommodation director at the Scottish Futures Trust (SFT), explained: "Establishing the South-West hubCo marks a significant milestone in the Scotland-wide hub initiative, led by SFT, as it concludes the formation of all five Scottish hubCos.
"Over the next ten years, over £1.5bn of investment will be made in community-based infrastructure across Scotland. And in the forthcoming financial year, over £300m of projects, including primary and secondary schools, health and medical centres and community projects will move into the construction or development stage which will be welcome news for the construction industry."
Notes to editors:
The Scotland-wide hub initiative is led by the Scottish Futures Trust and reflects a national approach to deliver new community infrastructure valued at more than £1.5bn over the next 10 years.
It brings community planning partners including health boards, local authorities, blue-light services and other public bodies together with a private sector development partner to form a hubCo, to increase joint working and deliver best value.
*South West hub Territory public bodies Ayrshire and Arran Health Board Dumfries and Galloway Heath Board Lanarkshire Health Board The State Hospitals Board for Scotland Scottish Ambulance Service Board North Ayrshire Council East Ayrshire Council North Lanarkshire Council South Ayrshire Council Dumfries & Galloway Council South Lanarkshire Council Strathclyde Fire and Rescue Dumfries & Galloway Police Scottish Court Service Irvine Bay Regeneration Company
*Alliance Community Partnerships Equitix Holdings Ltd Kier Project Investments Ltd Galliford Try Investments Ltd John Graham Holdings Ltd
Equitix Acquires Bournemouth Central Library
Equitix is pleased to announce the acquisition of 100% stake in Information Resources (Bournemouth) Ltd from Kier Project Investments Limited and Semperian Investment Partnership Limited. The scheme reached financial close in August 2000 and achieved practical completion in March 2002.
The project includes the operation and management of assets within the central library and the provision of managed ICT services to the central library and 12 satellite libraries administered by Bournemouth Borough Council. The facilities management subcontractor is Kier Facilities Services, with ICT provided by Allied Worldwide. The Management Services are provided by Russell Management.
New Equitix Website Goes Live
We would like to welcome visitors to the new Equitix website. Not only have we significantly improved on its predecessor but we have rebranded and have an all new Equitix look. We hope you like this new look and find the new layout and information about what we do useful. Thanks for visiting the site, and we look forward to hearing from you soon.
Equitix Acquires Leeds LIFT
Equitix has acquired 100% of Primaria Ltd, the private sector share holder in Community Ventures Leeds Ltd, from Barclays European Infrastructure Fund (50%) and Miller Holdings (50%). This Local Improvement Finance Trust is in partnership with Leeds PCT and Community Health Partnerships, which completed its first development in 2004. The project includes 11 healthcare centres across the Leeds region. The facilities provided include GP surgeries, dental clinics, occupational therapy, a credit union, a library, minor operation suites, physiotherapy and many other services. Hard FM Services are provided by Miller FM.
Financial Close has been Reached on the £65 million Student Accommodation Project for University of Essex
The Uliving Consortium, made up of Bouygues Development, Equitix and housing provider Derwent Living, has reached financial close of the £65 million student accommodation scheme for the University of Essex. Bouygues Development, Equitix and Derwent Living are the equity providers for the scheme and Aviva Commercial Finance is the senior lender. The scheme comprises the construction of 648 new student units - and the transfer of 766 existing units, for which Uliving will provide the University a capital receipt. Uliving will manage the entire 1,414 dwellings over a period of 50 years, starting from 2013 when the entire student complex will open.
The new build part of the scheme - known as The Meadows - was designed by Lewis & Hickey architects and comprises 12-bed town houses accommodating 228 students and a further 420 en-suite study bedrooms in clusters, along with 'The Hub' an eye-catching pavilion that will house a student common room, a launderette and a 'grab-and-go' retail facility.
Bouygues UK is the design and build contractor and construction has commenced on the site adjoining Boundary Road which forms part of the University's major Knowledge Gateway development. The Meadows will be the first development on the site, which has been created so that small businesses and blue chip companies can benefit from close links with the academic community and research facilities. Derwent is the Facilities Management contractor and will start delivering services in July 2013.
Demand for good quality campus residences remains high and The Meadows will add to student choice, with the town houses ideal for groups who wish to share accommodation. The social pavilion will enhance the sense of community for residents of this new development and University Quays. The combination of Bouygues Development’s extensive building and project management experience and Derwent Living’s track record of managing accommodation will ensure The Meadows meets the needs of our students.
Director of University of Essex Campus Services Peter Church
Alliance Community Partnerships appointed Preferred Bidder for the South West Territory Hub Programme
The South West Territory Programme Board in conjunction with the Scottish Futures Trust (SFT) have appointed Alliance Community Partnerships, comprising of Equitix Holdings Ltd, Kier Project Investments Ltd, Galliford Try Investments Ltd and John Graham Holdings Ltd as the preferred bidder to deliver over £500m of public sector infrastructure projects for South West Scotland’s 18 hub participants.
SFT is managing the Scotland-wide hub programme which is delivering high-quality sustainable public buildings for joint occupation by public bodies including, health, social work and local authorities to help support the delivery of community services. The co-location of public services all under one roof will aid the on-going drive to improve services for local communities as well as deliver operational savings and improved property asset management.
The South West hub covers all areas throughout Ayrshire, Dumfries & Galloway and Lanarkshire and the infrastructure projects across this territory will be delivered through a joint venture company (hubCo), to be formed between the 18 public sector bodies and Alliance Community Partnerships.
Work will now start in earnest to further develop a number of outline projects within the £500m investment programme which is to be delivered over the next ten years and includes a range of health, education and regeneration projects. Local employment within the construction industry will be enhanced as the flexibility of the hub supply chain provides many opportunities for local SMEs to become involved in constructing high-quality public buildings in their local areas.
This is an excellent outcome and we are very much looking forward to working with Alliance Community Partnerships on some very important community projects...
Craig Marriott - South West hub Territory Programme Board
Craig Marriott who chairs the South West hub Territory Programme Board explained: "This is an excellent outcome and we are very much looking forward to working with Alliance Community Partnerships on some very important community projects over the coming years. The South West hub provides an opportunity for integrated service delivery, asset management and regeneration as well as the delivery of community benefits. In such times like these, there has never been a better time for collaborative working across public sector agencies, with hub acting as the catalyst."
Nick Parker, Chief Operating Officer of Equitix representing Alliance Community Partnerships commented that: "The Alliance Consortium is delighted to have been appointed as the South West Territory’s Preferred Partner. We look forward to a successful partnership with all the participants in focussing on delivering much needed projects for local communities and providing opportunities for local companies. This will maximise the benefits realised from this substantial investment across the region."
For further information on the hub programme and Scottish Futures Trust, please visit www.scottishfuturestrust.org.uk
For further information, please contact Jonathan Murray, Communications Manager at Scottish Futures Trust on 0131 510 0805, 07590 230645 or at email@example.com
Equitix Selected to Manage UK Government Fund Established to Invest in Energy Saving Schemes
Equitix is delighted to announce that it has been appointed by UK Green Investments (UKGI) the unit within the Department for Business Innovation and Skills (BIS), to operate and manage a Fund of £50 million to be specifically invested into energy saving and carbon reduction schemes. The investments will be match funded with co-investments made by leading institutional investors therefore maximising the money available to inject into suitable projects. The investments will be made into the non-domestic energy efficiency sector and will include energy performance contracting and biomass-to-heat schemes, helping to target the government’s carbon reduction commitments as well as contributing to the UK in meeting the EU’s 20:20:20 goals.
...we see this appointment as a sign of confidence in the track record of our team and our ability to deliver for both our investors and the public sector as a whole
Geoff Jackson - Chief Executive Officer of Equitix
Geoff Jackson, Chief Executive Officer of Equitix has commented that "Equitix are very pleased to be chosen to source, invest in and manage these investments on behalf of UKGI and there is a dedicated team in place to support UKGI’s non-domestic energy efficiency investment strategy. This area of investment is a good fit with our wider long term fund management philosophy; we see this appointment as a sign of confidence in the track record of our team and our ability to deliver for both our investors and the public sector as a whole."
Notes to Editors
Equitix is a UK based specialist Infrastructure Investor, Manager and Developer, focused on investments ill core infrastructure. Working in partnership with UK government entities, Equitix aims to make socially responsible, sustainable investments in communities. Equitix sources deals from its own development arm alongside the wider market, where it partners with construction companies, service companies and funders. Equitix is valued as an independent partner by its government clients and plans to hold investments for the long term. The team typically invest in projects in sectors including healthcare, education, social housing, highways, street lighting, offshore transmission and waste. Equitix Fund I closed in March 2010 on £104 million, which is invested across 26 U.K. projects diversified by sector. Equitix Fund II closed in May 2012 on £333 million and is currently investing in a number of projects. Equitix employs a team of 32 and is headquartered in London. For further information, please see www.equitix.co.uk.
UK Green Investments (UKGI)
The Government is investing as UK Green Investments (UKGI) in green infrastructure projects focusing on five priority sectors as a precursor to the UK Green Investment Bank. UKGI will accelerate private sector investment in the UK’s transition to a green economy. Offshore wind power generation, commercial and industrial waste processing and recycling, energy from waste generation, non-domestic energy efficiency and support for the Green Deal will be the first priority sectors.
The Government is committed to setting the UK firmly on course towards a green and growing economy. The transition to a green economy presents significant growth opportunities for UK-based businesses, both at home and abroad. This progression requires unprecedented investment in key green sectors. An estimated investment of up to £200 billion in the energy system alone is needed over the period to 2020.
Financial Close Achieved for the 25 Year Sheffield Highways Project
Sheffield’s £2bn Streets Ahead Project has reached financial close. Equitix is an equal shareholder alongside Amey Ventures Asset Holdings Limited and Uberior Infrastructure Investments in the new consortium for the project.
The contract includes improving and maintaining the city’s highway assets as well as providing street cleaning and grounds and tree maintenance and carrying out all winter maintenance duties. There will be a significant investment in the first 5 years known as the core investment period when the majority of the improvements works will be carried out. This work will involve improving roads and pavements, replacing street lighting columns and upgrading them and traffic signals with the latest LED technology, strengthening and repairing bridges and structures, improving flood prone drainage and replacing highway trees where necessary.
Amey will be responsible for delivering one of the biggest highways projects in the country to bring Sheffield’s highway network up to a high standard within the first 5 years of the contract and then maintaining that standard for the remaining 20 years of the contract. It is anticipated that the contract will begin in mid-August 2012.
For the latest update about the Streets Ahead and reaching this important milestone in the project, see here: https://www.sheffield.gov.uk/roads/works/schemes/streetsaheadproject/latest.html
Equitix Fund II Announces the Acquisition of the Community Solutions Portfolio of LIFT Assets
Equitix is pleased to announce the acquisition of 100% of Community Solutions Investment Partners Limited, (CSIP) the portfolio company from Morgan Sindall Investments and Barclays European Infrastructure Fund II. CSIP holds investments in 8 LIFT (Local Improvement Finance Trust) companies comprising 16 Fundco subsidiaries. The portfolio includes 36 buildings with a capital value in excess of £150m in the Barnsley, Doncaster, Bury Tameside & Glossop, Camden & Islington, Solent, and Plymouth areas, together with investments in Bradford & Airedale and West Sussex LIFTCos.
Equitix will continue to work with Morgan Sindall in respect of new opportunities in the LIFTCo areas through CSIP. Hugh Crossley, Chief Investment Officer at Equitix commented: "This acquisition further enhances Equitix’s position as a significant Partner in this specialist sector which fits very well into the wider portfolio we have built up over recent years".
Equitix’s Scottish Portfolio Grows
Equitix have acquired 60% of the Inverclyde Schools Project which comprises two primary schools and two secondary schools to the West of Glasgow city. Equitix Fund II have attained Sweett Group’s 19% share holding and Millers 41% share of the project leaving FES and Semperian with the remaining stake in the assets. The purchase of Inverclyde Schools is Equitix’s second acquisition in the Scottish market which Equitix are delighted to be investing in.
The new schools in total accommodate up to 2724 pupils in the Greenock area and have seen the amalgamation of a number of different primary schools and nurseries into two primary schools and four secondary schools into two sites. Construction was completed by Miller and FM will continue to be provided by FES FM Limited.
Greater Nottingham LIFT Company – Bulwell Riverside Wins an Award
The Greater Nottingham LIFT Company, Bulwell Riverside project, part of Equitix Fund II LIFT, last night won the award for being the ‘Best Community Project’ at the Partnership Bulletin Awards Dinner in London.
Bulwell Riverside is a brand new £23 million joint service centre that brings together services delivered by Nottingham City Council, NHS Nottingham City and Nottingham City Homes. Construction work started in 2009 and was completed in November 2011, with the centre opening to the public in January 2012.
Bulwell Riverside is third and largest joint service centre delivered by the Greater Nottingham LIFT Company and is at the hub of the community, offering a convenient single point of customer access to services including housing, welfare rights, youth and play facilities and GP practices.
Financial Close Reached for West Yorkshire Police PFI Project
The consortium appointed Preferred Bidder in January 2012 for West Yorkshire Police PFI, led by Interserve and Equitix; will design, build, finance and service the three Facilities for the West Yorkshire Force for the next 27 years. Funding will be provided by Aviva Public Private Finance Limited.
The Facilities include; new divisional headquarters and custody facilities at Elland Road in Leeds (within the City and Holbeck Division) and Havertop Lane at Normanton (within the Wakefield Division). They will provide a modern, flexible working environment and importantly, support West Yorkshire Police’s drive to modernise police services that are provided to local communities. Each of the buildings has a community facility designed within to enable to connect these buildings with the communities they serve. A new Specialist Operational training centre will also be built which will be located next to the Force’s Operational Support Division at Carr Gate in Wakefield and will include state of the art firearms training ranges, public order and driver training accommodation.
These fantastic facilities will enable us to deliver an even better service which is flexible and responsive to the needs of local people...
Sir Norman Bettison Chief Constable for West Yorkshire Police
Sir Norman Bettison Chief Constable for West Yorkshire Police said: "These fantastic facilities will enable us to deliver an even better service which is flexible and responsive to the needs of local people, supporting the drive to continue to improve public confidence and user satisfaction.
I recognise that many people are concerned about the impact of current funding cuts on the police and we are constantly looking at where efficiencies can be made, that minimise impact upon frontline services. By attracting central government funding, and through our ongoing work to rationalise the overall size of our older estate these new facilities will ultimately save the force scarce resources."
Nick Parker, Chief Operating Officer for Equitix, said: "This is an exciting opportunity for the consortium not only to build 21st century police facilities but also to work in partnership with the Force to deliver opportunities for apprenticeships, local suppliers, and to manage the facilities management services for the buildings for the next 25 years."
Equitix Fund II Closes at £333 million
Equitix is delighted to report the final close of its second fund, Equitix Fund II. Having originally targeted £150m Equitix has raised £333m over the course of the last 17 months. Whilst raising funds Equitix has continued to make investments and over 40% of Equitix Fund II has been invested into UK infrastructure projects and a further 20%+ is committed to preferred bidder positions which Equitix expects to close over the next six months, including Greater Gabbard OFTO and West Yorkshire Police PFI. Equitix is co-operating with Treasury through their PPP consultation process and continues to be focused on Core UK infrastructure.
Equitix is investing on behalf of 15 UK corporate and local authority pension funds delivering long term inflation linked income to match against the long term pension liabilities.
Evercore acted as Equitix’s placement agent for Equitix Fund I & II.
Sandwell LIFT Co - Portway Lifestyle Centre
Equitix are pleased to announce that the Sandwell LIFT Co, Portway Lifestyle Centre project has achieved financial close. The new £12 million facility will offer sport, leisure, social care and health facilities including a GP surgery and is planned for completion in August 2013.
Once completed the new Portway Lifestyle Centre in Oldbury will be a major asset to the local community and in addition to the new GP facilities, will have a four-court sports hall, hydrotherapy pool for rehabilitation and other therapeutic purposes, a climbing wall, dance studio, fitness suite and full-sized all-weather pitch.
This project is a real example of the vision and commitment of both the Public and Private sectors. Sandwell Metropolitan Borough Council and Sandwell Leisure Trust, which will run the centre, have been working closely alongside Sandwell Primary Care Trust and Sandwell LIFT Co to reach financial close. The scheme has also benefitted from significant investment by Sport England to help create an outstanding community facility.
Equitix Acquires Cleadon Park Health and Community Centre
Equitix is pleased to announce it has acquired 100% of Cleadon Park Health Centre, South Shields, from Carillion Private Finance and State Street Global Advisors. The project comprises two GP practices, primary care teams, therapy services, a minor operating suite, social care accommodation, a pharmacy, a community library, multi-purpose community facilities and a ‘one-stop’ approach to housing, social and health care. It has been fully operational since 2010, with Carillion Facilities Management providing Hard FM Services.
Equitix Fund II Exceeds £300 million
Equitix is delighted to announce it has raised further capital and Equitix Fund II now exceeds £300m GBP of commitments, primarily from UK public and private pension fund investors. Equitix is working with 3 additional investors with a view to calling a final close at the end of April and is hoping to reach its revised hard cap of £350m GBP.
The Fund invests in UK public infrastructure and is now circa 50% committed to projects. Equitix expects to commit the remaining capital over the course of 2012/13.
Equitix is active in both primary and secondary markets. The team are Preferred Bidder of West Yorkshire Police PFI with Interserve, actively bidding the OFTO program with Balfour Beatty Capital and in the process of closing a small healthcare secondary acquisition.
Science Laboratory Nears Completion at Endana School in Kenya
Following the decision to build a science laboratory at Endana Secondary School in Kenya, construction went underway in December 2011 using the money raised from the School for Africa drinks in December 2010 to fund the build. It is now near to complete, having achieved phase 1 of the project including the completion of the roofing and plastering. Phase 2 involves electrical fittings and the installation of laboratory equipment. The school hope to finish this work in the near future and the money that was raised from the charity drinks in December 2011 will help to complete this work, including allowing the school to fully furnish the laboratory.
Thanks again to all those who have helped us support Endana School through our charity events. We have raised over £40,000 for the school and this money is making a real difference to a lot of people.
Equitix acquires North Lanarkshire Schools
Equitix Limited is pleased to have acquired a 50% stake in the North Lanarkshire Education 2010 PPP Project from Balfour Beatty. The project consists of a portfolio of twenty-one schools and 3 educational facilities spread across seventeen sites including Coatbridge and Airdrie in Scotland. The schools include a mixture of primary and secondary schools and range from Catholic to Non-denominational. As of October 2008, the facilities have been fully operational and the FM services will continue to be provided by Balfour Beatty WorkPlace.
Phase I of Cambridgeshire Schools Now Complete
Thomas Clarkson Community College in Cambridgeshire has opened to students today as Phase 1 of its £33.5 million re-development is complete. The new state of the art building, which has taken 16 months to complete is spread across three ‘learning communities’, a kitchen and restaurant area, a sports wing including sports hall, gym and changing facilities, a redeveloped administration wing and an impressive central "Eden" space which forms the heart of the college and includes social areas, a climbing wall and a green wall.
The successful and timely completion of Thomas Clarkson Community College is an excellent achievement for all involved.
Nick Parker - Chief Operating Officer of Equitix
Work on Phase 2, which includes the development of a new community theatre and other performing arts accommodation, the new car park and external landscaping, as well as demolition of the college’s existing buildings will start next week. The whole project is due to be completed by the end of 2012.
Nick Parker, Chief Operating Officer of Equitix has commented that "The successful and timely completion of Thomas Clarkson Community College is an excellent achievement for all involved. The new school will allow the students and staff alike, the opportunity to study and work in some of the best and most exciting educational facilities in the UK. We look forward to continuing this good work in partnership with the local schools and Cambridgeshire County Council in the coming years."
Thomas Clarkson Community College is the second school in the Fenland Building Schools for the Future (BSF) programme to occupy part of its new accommodation. Phase 1 at Neale-Wade Community College in March was handed over on time in August 2011 and work started last summer at three other schools in the programme – Cromwell Community College in Chatteris, Sir Harry Smith Community College in Whittlesey and Meadowgate School in Wisbech.
West Yorkshire Police
West Yorkshire Police Authority and West Yorkshire Police have been granted permission by the Home Office and HM Treasury to appoint a preferred bidder to deliver two new divisional headquarters (DHQs), custody suites and a specialist operational training facility to improve the service it delivers to the public.
Following a competitive procurement and design development process the Interserve-Equitix Consortium has been identified as the successful bidder to move forward to the next stage. Their appointment as preferred bidder is anticipated in the near future. The successful consortium will design, build, finance and operate the new facilities. Having reviewed the West Yorkshire Police Authority’s Final Business Case, an allocation of over £100million of PFI Credits will be made by HM Treasury in order to deliver an ambitious programme of investment.
The new DHQs and custody facilities will be located at Elland Road in Leeds (within City and Holbeck Division) and Havertop Lane at Normanton (within Wakefield Division). These schemes will provide a modern, flexible working environment and importantly, support West Yorkshire Police’s drive to modernise services that are provided to local communities. The new Specialist Operational training centre will be located on a site adjacent to the Force’s Operational Support Division at Carr Gate in Wakefield and will include state of the art firearms training ranges, driver and public order training facilities.
Planning Applications for each of the three proposed developments will be submitted over the coming weeks. Financial close (at which point the contract is signed) will take place in May / June 2012 Construction will commence on each of the sites in the Summer 2012, to be completed in 2014. The Interserve-Equitix consortium will then be responsible for the delivery of facilities management services (including cleaning, maintenance and energy management) once the buildings are completed.
...the Home Office and Treasury have recognised the strength of these proposals and the value for money they will deliver...
Councillor Mark Burns-Williamson - Chair of West Yorkshire Police Authority
Chair of West Yorkshire Police Authority, Councillor Mark Burns-Williamson, said: "This has been a tremendously competitive process, and with this approval, the delivery of the long awaited new facilities moves an important step closer. I am delighted that in approving the business case, the Home Office and Treasury have recognised the strength of these proposals and the value for money they will deliver. We have been impressed with the proposals developed by the Interserve design team which will deliver flexible, sustainable, innovative facilities fit for the 21st Century. The successful bidder has also made firm commitments to maximise the positive impact on the local economy during the construction process and beyond, providing many construction jobs including commitments to provide 85 apprenticeships."
"The project has been subject to external scrutiny throughout the procurement process and it is testament to the quality of the proposals that at every stage feedback has been positive.” Vice Chair of West Yorkshire Police Authority, Councillor Les Carter said: “The coalition Government clearly recognises the importance of these proposals in providing West Yorkshire Police with the facilities they need in order to meet the needs of the communities they serve. This much needed investment will deliver an important part of the wider programme of estate re-organisation and rationalisation which will leave a lasting legacy for the delivery of police services in West Yorkshire".
Nigel Brook Assistant Chief Officer (Finance and Business Services) said "A combined team made up of West Yorkshire Police officers, staff, secondees from Leeds City Council's Public Private Partnership Unit and advisers have worked extremely hard for three years to bring this project to this key point. I am delighted that the delivery of the new buildings is now so close".
Equitix Fund II reaches £235 million
Specialist infrastructure manager Equitix has closed on £235 million for its second PPP social infrastructure fund, and has a further £15 million reserved by investors to be funded in January 2012. This brings the total amount committed to £250 million, reaching the Fund’s initial hard-cap.
Current Fund II LPs recently agreed to raise the Fund’s hard-cap to £350 million given the strong pipeline of attractive investment opportunities and allowing further investors to join during the first quarter of 2012.
Investors in Equitix Fund II see continuing opportunities to invest in good quality, low-risk UK PPP assets, which are attractive in the current environment. Equitix has been active in the market, having already committed nearly 60% of funds raised to primary and secondary UK PPP projects.
Equitix is supporting the Treasury's initiatives to consider new PPP project models that might deliver better value for money whilst ensuring pension fund investors receive an attractive return for the project risk profile.
Evercore Private Funds Group is acting as sole global placement agent for the Fund.
School for Africa and Help for Heroes
Equitix, Deloitte, CMS and Evercore would like to thank everyone who attended or supported them to raise money at their second annual charity drinks evening at Good Enough College in December. Due to an astounding effort by all, we have raised over £25,500 which has been split equally between the two charities so a HUGE thank you to you all!
School for Africa
Every penny of the £27,000 raised at our inaugural charity event in December 2010 has been committed to building a science laboratory at the Endana school in Africa which when complete will allow the pupils of Endana to study towards sitting the national examinations. Ol Pejeta conservancy are sourcing constructors through a competitive tendering process to ensure that they a) get best value for money and b) get a quality build. A decision should be imminent and they continue to keep us up-to-date with the progress made. Building the laboratory will go a long way to assisting with the education of the children at Endana. However, more help is always needed. The school continues to grow taking in pupils from the surrounding communities and has increased in volume from 146 to 206 students in the last year.
Help for Heroes
Alongside supporting Endana secondary school, we were also fund raising for Help for Heroes at the event in December 2011. H4H was set up in 2007 to do something practical to help the men and women of our Armed Forces who are injured while serving our country. Now 4 years old, they have raised over 110 million pounds in support of the country’s wounded and we are very grateful to have been able to support them to raise more.
Key information on all our assets
Introducing the people behind Equitix