14 December 2020
Cityheart / Graham Joint Venture secures place on £47bn national Pagabo framework
A joint venture partnership between Cityheart and Graham has successfully been awarded a place on the £47bn Pagabo National Framework for Developer Led Projects.
The JV was appointed to all nine lots of the national framework, which is based on a four-year arrangement, with the option to extend for a further 16 months to April 2026.
The lots were divided into a range of financing models, UK wide geographic regions and value bands.
The financing models comprise Special Purpose Vehicles, Long Lease and Lease Back, and Single Site Development Agreements.
The value bands extend from £0 up to £40m, £40m up to £100m, and £100m+.
Pagabo is acting on behalf of Cumbria, Northumberland, Tyne and Wear NHS Foundation Trust.
GRAHAM is a leading development and investment projects company, operating across the UK and Ireland.
Cityheart is an established property development and investment business specialising in Public Private Partnerships.
The collective expertise of the two organisations will provide a full suite of development services for public sector bodies, including schools, universities, local authorities, police, health and social care providers, housing associations and government departments, to tap into.
Commenting on this achievement, Mark McNamee, Cityheart Managing Director, said: “As with partners GRAHAM, we are excited to be included on this national framework. Through the framework we hope to deliver high quality, value for money projects for the Public Sector in all its guises, designed to make a difference in re-purposing many of our towns, cities and other partners.
“We look forward to working with GRAHAM and Pagobo in the near future, in this exciting time for our industry and our many partners.”
John McDonald, GRAHAM Group Corporate Director, added: “On behalf of the GRAHAM Cityheart Joint Venture, we are delighted to have secured our place on this unique developer led Pagabo framework. We have a long track record in successfully delivering best in class developments with Cityheart, and we are looking forward to harnessing this collective development expertise to help local authorities and other public bodies, across the UK, to release value from their land, buildings and assets.
“The national framework provides exciting opportunities for regeneration, to influence and promote the residential agenda and to fund public works through private finance. Social value is also at the heart of this framework and we are committed to delivering lasting impact within the local communities where we will operate through job creation, supply chain partnership and development, and training and skills provision.”
Jason Stapley, managing director at Pagabo, said: “With all our frameworks we aim to simplify the whole procurement process, ensure flexibility and provide greater choice for clients, all packaged up with OJEU compliance – our developer-led framework is no different in that respect. It will allow developers the ability to procure works through a compliant and simple to use framework and help the public sector with vital expansion plans, creating an overall more robust sector.
“We’ve been absolutely blown away by the response we’ve had in this tender process and are really pleased to be bringing a unique procurement offering to market with such a strong set of companies.”
ENDS
Notes to Editors:
CITYHEART
For more information and details relating to Cityheart Limited please contact:
Anna de la Perrelle – anna@delapr.com / 07876528773
