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.
Subscribe to 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."
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Saba Capital and Boaz Weinstein respond to investment trusts
As investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
By Dan McEvoy Published
-
How to find top-quality companies with growing dividends
Ian Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
By Ian Mortimer Published