This PPP project consisted of the refurbishment and management of eight existing care homes by Shaw Healthcare (de Montfort) Ltd contracted on behalf of Northamptonshire County Council. The project results in both an improvement in the quality of the accommodation and cost-effectiveness of the care going forward.
The improvements involve building three new homes, replacing four older properties, refurbishment of two existing homes and the management of two remaining homes.
During the operating phase, Shaw will maintain the homes and provide care services. Nationwide’s facilities will be fully repaid two years before the concession ends in line with the amortisation schedule agreed in the financial model.
Experienced construction company Kier have been engaged in the refurbishment and building work, with Nationwide providing senior debt in this £25m project.
Operis provided both financial advice to the funder and financial due diligence services leading to financial close on 23 May 2006.
