News on 09 April 2001
MIM, the PFI arm of project management company Tropus, has completed financial closure on a £30m PFI contract to design, build, finance and maintain a new traffic wing for the Nottinghamshire Police.
The new 2,500sq m (27,000sq ft) building, designed by Maber Associates, will be built on a three acre (1.2 hectares) site at Nottingham’s Riverside commercial estate. It will house approximately 140 Nottingham Traffic Wing officers and will be managed by Tropus FM over 25 years.
The deal, which was signed by the Police Authority and MIM’s Special Purpose Vehicle, Miven, was backed by The Royal Bank of Scotland. MIM says this project is the first of its kind and heralds a significant change in the country’s police force’s approach to premises and services.
Commenting on the deal, David Hudson, MIM Chief Executive said: “MIM are delighted to have reached financial closure on this ‘pathfinder’ development, which further demonstrates MIM’s and Tropus’ commitment to PFI as investors, procurers and managers. Negotiations have been long and intensive but all parties involved are extremely happy with the outcome which will be the biggest outsourcing contract that Nottinghamshire Police have ever been involved in.”
