The Sapphire consortium, led by Eric Wright Group, was chosen in January by Stoke-on-Trent City Council to finance and build three retirement villages.
Eric Wright Õ¥Ö¼§ and Seddon Õ¥Ö¼§ will work together to build 390 extra care apartments in villages at three sites in Burton, Abbey Hulton and Chell in Stoke-on-Trent. Completion is scheduled for 2016. Eric Wright will be responsible for maintenance of the facilities once they are completed.
The council has entered into a project agreement for 25 years with the Sapphire Consortium which also includes Your Housing Group and Kajima Partnerships.
Aviva, funding its first housing PFI project, provided £65m senior debt facility. Sapphire’s legal adviser was Pinsent Masons.
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