Shadbolt LLP has advised Galliford Try as SPV on the £60m PFI project to develop the new Worcester Library and History Centre for Worcestershire County Council in partnership with the University of Worcester.
The project, which reached financial close on 29th January 2010, involves developing a fully integrated public and university library which will be the first of its kind in the UK. The scheme will also include the county archives and records office, history centre, archaeology service, multi-agency customer service centre in addition to commercial and retail space.
The building is set to become one of the world’s most sustainable buildings with a 50 per cent reduction in carbon emissions and will have a BREEAM rating of “Excellent”. Completion of the project is expected by January 2012.
The financial close of this deal comes at an exciting time for Shadbolt as their PFI team have today joined the team at Clyde & Co. The newly combined team will provide further strength for clients in key sectors such as regeneration, social infrastructure, transport and energy.
Commenting on the deal Greg Fitzgerald, Chief Executive, said:
“We are delighted to reach financial close on this significant project for Worcestershire County Council and the University of Worcester which will lead the way in sustainability for public buildings. This project brings together Galliford Try’s strength in delivering schemes through the Private Finance Initiative together with its investment and construction expertise.”
Liz Jenkins, Projects Partner at Clyde & Co added:
"Our team is delighted to have closed such an important project for Galliford Try. We look forward to increased strength and depth within the PFI arena at Clyde & Co."