Grant thornton's gia team assist in the two counties police investigation centres pfi project
Grant Thornton UK LLP's Government Infrastructure and Advisory (GIA) team provided full financial advisory support to Justice Support Services (JSS), Norfolk & Suffolk, contributing to the financial close on the Two Counties Police Investigation Centres PFI project with Norfolk and Suffolk Police Authorities, announced yesterday, 23rd February 2010.
Advisors at Grant Thornton provided a range of a advisory support, which included assembling a club of experienced lenders, financial modelling, tax and accountancy support. This helped enable JSS (Norfolk & Suffolk) Ltd, a consortium comprising Reliance Secure Task Management Ltd– Kier Project Investment - Uberior Infrastructure Investments (No 4) part of the Lloyds Banking Group, to reach financial close on the Two Counties Police Investigation Centres PFI project with Norfolk and Suffolk Police Authorities.
This is a unique project for the police sector with the Norfolk and Suffolk Police Authorities working collaboratively together and with the private sector to deliver six ‘Top of the Range’ facilities across their two counties, enabling them to address the challenges and opportunities of modern policing.
The construction value is £60m and will be undertaken by Kier Eastern (part of the Kier Group) from their offices at Wisbech, Norwich and Witham. Construction will commence immediately. The Centres will be completed in a phased handover to the Authorities, with full operations being achieved within two years. The facilities are located at Aylsham, Wymondham, Kings Lynn, Ipswich, Bury St Edmunds and Great Yarmouth.
The facilities management services will be provided by Reliance Secure Task Management Ltd with an annual contract valued at £1.5m and will provide the full range of services including contract management, estates and facilities management, grounds maintenance, utilities and energy management, catering, cleaning, waste management, the provision of detainee consumables and laundry service. They will also provide planned and reactive maintenance services and have lifecycle responsibilities.
Neil Rutledge, Director within the GIA team at Grant Thornton, said: "This project was conceived in times when funding markets were more benign. We are delighted to have supported the consortium in generating an attractive funding package for this project working in conjunction with the public sector and its advisory team over an extended period of market uncertainty."
Phil Townsend, a Director of Justice Support Services said, “We are delighted to have reached this important milestone in this exciting project and look forward to delivering the facilities and services on time and to budget. These Investigation Centres will enhance Norfolk and Suffolk Police Authorities’ ability to deliver efficient and effective services to the public, improve the working conditions for staff, and allow them to optimise operational practices and procedures. We look forward to working with the project team and Authorities over the months and years ahead.”
For further information, please contact: Stephanie Aneto, Grant Thornton Press Office: on 020 7728 2940 or firstname.lastname@example.org