Goldman Sachs International is leading a consortium which is to run theDepartment of Social Services 700-building portfolio.
The deal is the largest single private finance initiative yet to beconcluded. It will see around 18.30m sq ft (1.7m sq m) of offices and other buildings transferred to the privatesector. The contract is estimated to be valued at around £4 billionover its 20 year life.
Ministers have also decided to drop plans to refurbish the Treasury’sWhitehall offices with PFI cash and turn them into luxury flats. The schemewas considered inappropriate at a time of spending constraint.
- Financial Times 01/08/97 page 20
- The Daily Telegraph 01/08/97 page 31
- The Times 01/08/97 page 1, page 21 Commentary page 23
- The Independent 01/08/97 page 20
- The Guardian 01/08/97 page 8, page 19
