Interserve preferred bidder on 100m pound contract
Interserve, the international support services and construction group, said it was preferred bidder on a seven year residential and corporate property contract.
Interserve, the international support services and construction group, said it was preferred bidder on a seven year residential and corporate property contract.
The contract with the East Thames Group charity could be worth up to £100m over the initial seven year term, Interserve said, and included a option to extend it to fifteen years.
The repairs and maintenance contract will cover 13,000 properties across East London and Essex.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The contract covers repairs to residential housing and corporate buildings, estate services to the local areas, project works across the property portfolio, and building refurbishment between lettings.
Interserve will also provide a strategic asset management service, advising the charity on the most effective maintenance investments across its portfolio.
"This opportunity with East Thames Group broadens our residential maintenance portfolio," said Bruce Melizan, Executive Director at Interserve.
"[It] will allow us to support the charity in regenerating East London and Essex to create communities where people want to live."
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Could your family be at risk of an unexpected tax bill? How to keep your loved ones in the loop
Many families are out of the loop when it comes to planning the financial aspects of both retirement and inheritance
-
Rightmove: Glut of homes for sale in southern England drives asking price drop
Asking prices are 0.1% lower than a year ago, according to the property website, driven by challenges in affordability-stretched London and the south