Galliford Try has been named as preferred bidder by Kent County Council for a £38m housing contract, which will rise to more than £70m over the lifetime of the private finance initiative deal.
Kent County Council has named the firm for its Excellent Homes for All scheme, which will see Galliford provide seven schemes of supported housing across the county.
Approximately 240 homes are expected to be built by Galliford Try’s Partnerships business in extra care schemes to provide supported living for vulnerable adults across Kent under the contract, as well as communal facilities.
The project will involve the creation of a special-purpose vehicle managed by Galliford Try Investments to develop social housing for vulnerable people within Kent.
The value of the index-linked investment to be made by Galliford Try over the 25-year course of the contract is in excess of £4m.
Galliford Try’s Facilities Management business will provide ongoing hard and soft facilities maintenance and lifecycle management services in operating the scheme accommodation.
The FM contract is expected to be worth more than £36m, providing approximately £1.5m of additional index-linked income per annum to the group.
Housing management services for the project will be provided by Galliford Try’s partner, the West Kent Housing Association.
Galliford Try chief executive Greg Fitzgerald said: “We are delighted to have been selected for this significant contract by Kent County Council.
“We continue to demonstrate our expertise in providing high-quality facilities for vulnerable people.
“The multi-faceted nature of this contract provides further evidence that our diverse business allows us to offer clients integrated solutions to solve their problems.”