Hendon Hub Financial Advisor
London Borough of Barnet · London
Key facts
- Contract value
- £6,325,000
- Contract starts
- 16 Aug 2021
- Buyer type
- Local government
Awarded to
| Supplier | Value |
|---|---|
| Pre-contract award supplier | £6,325,000 |
Description
Establish a financial advisor to develop a private placement (PP) funding route for the Hendon Hub. The project is a development of 3 primary sites: 1) The RFC building (lecture and Student Accommodation for Middlesex University) and new Civic Library 2) The Meritage Centre - 4 Student Accommodation Blocks with some community space 3) Building 9 & Renovation of existing library, new business school and administration block
LBB intends to lease the assets to Middlesex University (“MU”) for 40+ years with each building having a different lease start date (based on the phased completion dates). The lease term is expected to be 40 years plus the remainder of the overall construction period such that all leases are co-terminus.
LBB will to finance the development by entering into a 40 year debt or lease arrangement with a long term capital provider. It is likely this will be done through a special purpose vehicle (SPV) set up for this project