Belfast Metropolitan College PPP CompletesNovember 13, 2009
This £44m PPP reached commercial close in April 2009 and once constructed will see the college facilities at College Square East and Brunswick Street replaced and relocated to Titanic Quarter.
Planning approval was issued for the college in February 2009 and Ivywood Colleges moved onto the site together with their sub-contractor Pattons to commence construction in April 2009. The college expected to be fully operational for September 2011. On its completion the college will be one of the largest in the UK and Ireland, having some 53,000 full time and part time students
Cleaver Fulton Rankin advised the SPV, Ivywood Colleges, from bid stage right through to close on all manner of issues including facility management agreements, building contracts, appointments, warranties, funding agreements, VAT and the land and basement car park transactions which both fell outside the PPP.
Members of the consortium include Ulster Bank, Patton Group, Cleaver Fulton Rankin, Harvey Group and Todd Architects. Cleaver Fulton Rankin continue to advise the client as the construction continues and will advise on facility management issues in the future.
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A legal alliance Matheson Ormsby Prentice, Dublin & Cleaver Fulton Rankin, Belfast