The selection of a consortium of VINCI PLC and St Modwen Properties PLC as Preferred Bidder for Project MoDEL (MoD Estate in London) was announced today by Defence Minister Don Touhig.
Project MoDEL will initially invest over £150 million in the re-development of RAF Northolt to create MoD‘s first integrated core site in London providing Service Personnel with brand new living, working and messing accommodation plus sports, social, health and welfare facilities.
The financial advisor for VINCI PLC and St Modwen Properties PLC is Operis.
Project MoDEL’s Contract Award is scheduled for July 2006 after which the appointed Prime Plus Contractor will fund and project manage the delivery of the construction requirements, primarily at RAF Northolt, the relocation of units, and the disposal of sites rendered surplus through the consolidation activity.
Consolidation of the London Estate will lead to the release of over 250 acres of land for redevelopment, on six sites. Their receipts will be directly recycled into the development of RAF Northolt.
1. RAF Uxbridge
2. RAF Bentley Priory
3. RAF Eastcote
4. RAF West Ruislip
5. Inglis Barracks, Mill Hill
6. Victoria House Woolwich
