Sisk team reaches financial close on €120m Irish housing PPP
March 22, 2019 – Financial close has been reached on a €120m (£104m) public-private partnership (PPP) project to build social housing in Ireland.
Comhar Housing, a consortium comprising Macquarie Capital (Macquarie), John Sisk & Son and Choice Housing Ireland will carry out social housing bundle 1 (SHB1) of the PPP project.
The €120m project encompasses the financing, design, construction and maintenance of six social housing development sites located in and around Dublin, creating over 530 new homes and apartments. SHB1 forms part of the Irish government’s wider €300m commitment to deliver a total of 1,500 of social housing units and associated services via PPP.
Comhar Housing was appointed preferred tenderer on 18 September 2018 by Ireland’s National Development Finance Agency and with Macquarie and Sisk acting as equity provider, Sisk as design and build subcontractor and of Choice as facilities management subcontractor. Oaklee Housing, a subsidiary of Choice, will undertake tenancy management.