Neptune Developments has recently signed a contract for the construction and provision of serviced civic offices for Denbighshire County Council under the Private Finance Initiative.
Welsh local authority Denbighshire County Council is to use the Private Finance Initiative to create purpose-built, high specification council offices and restore its historic town hall, in 13th Century castle town Ruthin. It is believed to be the first time that PFI has been used to build civic accommodation in the country.
Brian Meharg, Neptune Developments Finance Director who ran the project said: “We were introduced to Bird & Bird by a contact who has worked with them on other PFI projects and we are very pleased with the outcome.”
Bird & Bird, led by partners Jonathan Baker and Andrew Stobbart advised Neptune Developments on the project which will be financed by Barclays Bank. Commenting on the deal Jonathan Baker said: “We were delighted to be involved with this very interesting project and look forward to working with Neptune Developments on other projects in the future.”
Denbighshire Council was represented by Nabarro Nathanson (Ray Ambrose) and Barclays Bank by DLA (Graeme Walton).
For more information, please contact Jonathan Baker on +44 (0) 20 7415 6000 or Larry Cattle, Director of Marketing, on +44 (0) 20 7415 6156.