HICL completes military investment acquisition

Investment infrastructure group, HICL, has bought a 50% equity and loan note interest in the Northwood Ministry of Defence HQ PFI Project for 30.6m pounds.

Investment infrastructure group, HICL, has bought a 50% equity and loan note interest in the Northwood Ministry of Defence HQ PFI Project for 30.6m pounds.

The deal with Carillion Private Finance was originally announced in November 2012 but the details of the purchase were not released due to confidentiality restrictions.

The company said the amount it had paid was line with the current valuations of similar UK PFI projects in the group's portfolio and took its total number of infrastructure investments to 79.

The Northwood project is a £198m scheme to design, construct and commission new-build facilities and associated site infrastructure on behalf of the Ministry of Defence in Northwood, Greater London.

It reached financial close in July 2006 and lasts for 25 years from that date.

Northwood is the MoD's strategic military command centre, covering the UK's three armed forces and is also a NATO establishment.

The contract provides fully serviced office accommodation along with improved single living accommodation for personnel stationed on the site.

Construction of the facilities was completed in July 2011 after a five year construction programme.

The group has also completed the acquisition of additional equity and loan note interests in Fife Schools from a subsidiary of Sodexo.

This takes HICL's total interests in this project to 50% and completes the acquisitions announced on August 28th 2012.

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021