The GRAHAM Group is delighted to announce that, together with its consortium partners in the East Down and Lisburn Education Partnerships, it has reached financial close on the East Down and Lisburn Institutes’ Public Private Partnership (PPP) projects. This significant milestone marks the end of the negotiation phase and the start of a 3-year construction period, which will be followed by a 25-year operational period.

The projects, with a £60m capital value, will replace existing accommodation which fails to meet modern requirements and has been in urgent need of repair for some time. The new accommodation will be provided at the newly-merged South Eastern Regional College at its Downpatrick, Newcastle and Ballynahinch campuses (the former East Down Institute) and at Lisburn.

GRAHAM Investment Projects will invest equity in the projects, which will provide a return over the 25-year operational period.

GRAHAM Facilities Management will provide a full range of FM services including building and grounds maintenance, cleaning, security and catering. The scale of the projects is such that dedicated site-based management teams will be required at both Lisburn and Downpatrick.

Construction has already commenced, with the Newcastle campus and phase 1 at Downpatrick due for service commencement in June 2009. Lisburn will reach service commencement in April 2010, which will be followed in February 2011 with the Ballynahinch campus and phase 2 at Downpatrick.