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Town & Country set for 35-year PFI deal with Uni
00:00 04 Jul 2001
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Town & Country Housing/Rydon is preferred bidder for a
£7.5m project which includes one of the longest concession
periods in the history of privately financed schemes.
The 35-year design, build, finance and operate deal is for student accommodation at the Northbrook College campus in Worthing, West Sussex.
A spokesman for Chesterton Consulting, the scheme's project manager, said: "A shorter concession wouldn't provide firms with any incentive to bid as they wouldn't be able to make a reasonable profit from rents after the loan pay-back period."
Work will start on site during mid-September. with the build period lasting for a year.
Other runners for the project were Worthing Homes Housing Association, Quintain Estates, and Adelphi Hotels.
The 35-year design, build, finance and operate deal is for student accommodation at the Northbrook College campus in Worthing, West Sussex.
A spokesman for Chesterton Consulting, the scheme's project manager, said: "A shorter concession wouldn't provide firms with any incentive to bid as they wouldn't be able to make a reasonable profit from rents after the loan pay-back period."
Work will start on site during mid-September. with the build period lasting for a year.
Other runners for the project were Worthing Homes Housing Association, Quintain Estates, and Adelphi Hotels.
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