BNG Bank has appointed Turner & Townsend as technical advisor on two major building projects that the bank is financing in the Netherlands.
The consultancy will be working closely with BNG Bank on a public-private partnership (PPP) project for a new town hall for the Municipal Council of Westland – the first partnership of its kind in the Netherlands. In an advisory role, Turner & Townsend will also provide financial risk assessment for the development of student accommodation at the Delft University of Technology.
The financing structure the Westland Town Hall will support the build and maintainance of the building over 25-year period. This will also include monitoring performance over the duration of the project. Under the construction plans, the town hall will consist of two buildings – covering approximately 6,000m2 each – and house services including a civic centre and archives. The work is due to be completed in 2017.
The Delft University campus project, which starts at the end of the year, consists of a two-phase, 36,000m2 development. The initial phase will comprise the redevelopment of various existing buildings into student apartments and a supermarket, bar and restaurant, coffee corner and medical centre. The second phase will be the development of 565 high-rise student apartments.
Ferry Pankras of BNG Bank said: “As a long-term investor in PPP projects, we value the PPP and commercial transaction expertise Turner & Townsend will bring to the table. Their extensive and professional technical knowledge will provide a vital component of our internal credit proposals.
“Turner & Townsend has a clear picture of what a financier needs to know about the technical aspects of building, road or other public infrastructural work, including the associated maintenance and facility management. We like their pragmatic view and we believe our clients appreciate this approach as well.’’
Source and Link: The Construction Index