Avon & Somerset Police PFI Project
Quayle Munro Project Finance advised a consortium of Bilfinger Project Investments and Miller Construction (“the Bluelight Partnerhsip”) on its successful bid for the Avon & Somerset Police PFI Project.
The project includes:
- A Somerset operations base at Express Park, Bridgwater, incorporating a custody and crime investigation centre, police station, specialist operations and local policing teams
- A custody and crime investigation centre and police station at 90 Gloucester Road, Patchway
- A custody and crime investigation centre at Ashmead Road, Keynsham; and
- A tri-force firearms training centre at Black Rock Quarry, Portishead – serving Avon and Somerset, Gloucestershire and Wiltshire Police.
Work has begun at Black Rock Quarry and Express Park and building will start at Gloucester Road and Ashmead Road early in 2013. The new buildings will open from early 2014.
The senior funding of £76m is being provided by Aviva Commercial Finance with total equity investment by the consortium members of c. £6m.
Quayle Munro Project Finance provided financial advice to the consortium, with White & Case giving legal counsel and Leigh Fisher acting as technical advisor. DLA Piper acted as lender’s legal advisor and PKF performed the model audit.
Moray Watt, Partner at Quayle Munro Project Finance said:
“Quayle Munro Project Finance is delighted to have been part of this transaction, assisting the consortium to achieve financial close on this project especially in a difficult funding environment.
Our experienced team is actively involved across the social infrastructure sector and this is just the latest in a long line of successful project closes.”
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