Lewisham Council and Regenter B3 enter Private Finance Initiative Partnership investing £165m into homes in Brockley
07 June 2007
Regenter B3 is set to commence a £165m (NPV) PFI project to refurbish and manage over 1,200 local authority homes in Brockley, Lewisham, South East London.
Regenter will carry out the project in two phases: a refurbishment phase being carried out by Higgins Construction Plc commencing in August 2007 with completion due in 2010; and then an operational phase with its delivery partners Pinnacle and Equipe, who will provide Neighbourhood and Estate Services, repairs, maintenance and life cycle replacement throughout the remaining 17 years of the concession period.
Deputy Mayor of Lewisham, Cllr Heidi Alexander, said: “We have chosen Regenter to carry out this vital project in Brockley, as they have a proven track record in delivering major PFI projects on time and budget. Through this partnership we will create high quality homes for our local residents.”
Regenter Bid Director, Vikki Everett, said: “We are delighted to have reached financial close on this exciting project and look forward to improving the quality of homes for the local residents in Brockley.
“This is a particularly interesting project, as Brockley has a large conservation area. The challenge for us will be to upgrade the homes to the Decent Homes Standard whilst preserving the style inherent in the conservation area.”
This is Regenter’s third project to reach financial close since its formation in 2004.