“When the bids are returned at the end of April 2008..”

The Belfast Telegraph’s Noel McAdam reports that the Department of Finance and Personnel have confirmed that Northern Ireland’s biggest ever Private Finance Initiative (PFI), the WorkPlace 2010 plan, will go ahead – now that the legal challenge has been settled.

In a statement last night, the Department of Finance and Personnel made it clear that progress towards the final offer stage in the Workplace 2010 procurement for the Civil Service office estate has not halted.

“On 14 January invitations were issued to Land Securities Trillium and Telereal inviting them to submit their Best and Final Offers for the Workplace 2010 contract. When the bids are returned at the end of April 2008 the Department will begin a process of evaluation with a view to moving towards preferred bidder stage later in the year,” it said.

It shouldn’t come as a surprise, though. As the PFI plan is part of the Capital Realisation project which is, at least in part, funding the budget allocations. Provided the actual realisation matches the predicted one, that is..

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  • How GVA Grimley LLP Added Value
    In this major ongoing relationship, GVA Grimley LLP has added value in maximising return to Land Securities Trillium. While working on large portfolio pitches GVA Grimley LLP frequently shares risk with clients, or only charges minimal fees until previously set financial targets are met. An example of this practice was the rating of the DSS Estate, in which GVA secured a reduction of 15 percent in the rating bill and then took a share after a predetermined level of saving was achieved.”

    I suppose it might be worth looking at the business rates for Northern Ireland to see who’s not paying the expected whack now, never mind later.

    Sell cheaply now, pay a lot later?