Investment in Police Headquarters near Frankfurt
INVESTMENT IN POLICE HEADQUARTERS PPP NEAR FRANKFURT
7 December 2017
International Public Partnerships Limited ('the Company', 'INPP'), the listed infrastructure investment company, is pleased to announce that it has entered into a binding commitment to acquire a stake in the new public private partnership police centre of South-East Hesse in Offenbach ('the Project').
INPP has committed to invest c.€8 million for a 45% shareholding in the Project.
The Project has been procured by the Federal State of Hesse, through the Department of Real Estate Management. It is anticipated that the Project will take 2.5 years to construct after which it will have a 30 year operational term.
The centre will provide a headquarters to the police in South-East Hesse in Offenbach which is approximately 5 km from Frankfurt. It includes office space, meeting areas, a cafeteria, police station, cells, nursery, multi-purpose hall, parking deck and outside facilities on a c. 37,000 sqm piece of land accommodating c. 800 staff. The gross floor of the Project is 67,472 sqm and includes 700 car parking facilities.
Subsidiaries affiliated with Goldbeck GmbH will act as construction contractor and will also assume responsibility for financing during the construction period. As such INPP's financial commitment will not come into effect until satisfactory construction completion, anticipated to occur in mid-2020. Goldbeck Public Partner GmbH will provide ongoing facilities management services to the Project.
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
FTI Consulting
Notes to Editors:
About International Public Partnerships:
International Public Partnerships ('INPP') is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships ('PPP'), regulated asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 127 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the UK, Europe, Australia and North America.
INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases typically of 25-40 year concessions.
Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists over 100 dedicated staff who manage, advise on and originate investments for INPP.
Visit the INPP website at www.internationalpublicpartnerships.com for more information.
This information is provided by RNS
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