News on 9 November 2000

Close Asset Management, part of merchant banking group Close Brothers, and its joint venture partner Ashwell Group have been appointed preferred bidder for a new defence housing PFI scheme worth £40m.

The contract is to build 250 new homes near the Wattisham air base in Suffolk for the Defence Housing Executive. Close Asset Management is investing £4m as equity partner.

The other consortium members are Bank of Scotland, which is providing debt facilities, contractor Persimmon and Flagship Housing Association, providing facilities management over the 25-year period of the lease.