This Cheshire Extra Care Homes PFI Project reached financial close on 10 October 2007.
The £65 million project in the UK involves the design, build, financing and operation of 5 extra-care villages in Crewe, Winsford, Ellesmere Port, Middlewich and Handforth.
Extra-care housing involves specialist facilities such as 24 hour on-site support to promote health and independence and to create an environment that enables ‘active aging’. Under this scheme, 433 houses will be built, with construction due to be completed by early 2010.
The preferred bidder, Avantage Consortium, a joint venture between Gleeson, Harvest Housing Group and Nationwide Building Society, will lead and manage the project for 30 years. Senior debt is also being provided by Nationwide Building Society.
Operis provided financial model due diligence services on behalf of Nationwide and the Avantage Consortium.