NHS LIFT Financial Close
Galliford Try PLC
09 December 2004
GALLIFORD TRY ACHIEVES FINANCIAL CLOSE ON £87 MILLION
OF PROJECTS IN COVENTRY
Galliford Try plc, the construction and housebuilding group, today announces
that it has achieved financial close on the £42 million Coventry NHS Local
Improvement Finance Trust (LIFT) and on the £45 million Education PFI project at
Caludon Castle School, also in Coventry.
Galliford Try is part of the gbconsortium that will be working with Coventry
Teaching Primary Care Trust and Partnerships for Health in the LIFT. The first
tranche of the 20 year construction framework partnering agreement has a
contract value of £42 million over a period of three years, with the first two
projects to construct medical centres at Keresley and Longford. There is the
potential to significantly increase the number of schemes in further phases.
At Caludon Castle School and Community College, Galliford Try is in consortium
with Bilfinger Berger. The project has an overall value of £45 million,
encompassing £21 million for the construction over a two year period of a new
state of the art school with facilities for 1,400 students, including child care
facilities and a library; as well as facilities management for 30 years.
Commenting on the projects David Calverley, Chief Executive of Galliford Try,
said:
'We are delighted to have reached financial close on both these projects. This
again demonstrates the strength of our partnership approach and our focus and
commitment to both the health and education sectors.'
Enquiries to:
David Calverley, Chief Executive Galliford Try 01895 855219
Frank Nelson, Finance Director Galliford Try 01895 855226
Ann marie Wilkinson Bell Pottinger Financial 020 7861 3232
07730 623 815
Notes to Editors:
1. LIFTs (Local Improvement Finance Trusts) are the
Government's vehicle for attracting private sector finance and expertise
to developing primary care centres. 42 LIFT companies will be set up
across the country as joint ventures between Primary Care Trusts (20%),
the private sector (60%) and Partnerships for Health (20%) a Government
backed organisation leading the roll out of LIFT projects.
2. The gbconsortium comprises Bilfinger Berger, BHE Holdings, Sapphire
Primary Care Developments and Galliford Try.
3. The Coventry care Partnership comprises gbconsortium (60%), Coventry
Teaching Primary Care Trust (20%) and Partnerships for Health (20%).
This information is provided by RNS
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