Appointed for two major construction projects in the Netherlands
We have been appointed by the Dutch BNG Bank to act as the technical adviser on two major building projects in the Netherlands, which the bank is financing.
We will be working closely with BNG Bank on a public-private partnership (PPP) project for a new town hall for the Municipal Council of Westland – the first partnership of its kind in the Netherlands. In an advisory role, we will also provide a comprehensive financial risk assessment for the development of student accommodation at the Delft University of Technology.
We will play a crucial part in the design and execution of the financing structure to support the build and maintainance of the Westland Town Hall over a 25-year period. This will also include monitoring performance over the duration of the project.
Under the construction plans, the town hall will consist of two significant buildings - covering approximately 6,000m2 each - and house services including a civic centre and archives. The work is due to be completed in 2017.
The Delft University campus project, which starts at the end of the year, consists of a two-phase, 36,000m2 development. The initial phase will comprise the redevelopment of various existing buildings into student apartments and a supermarket, bar and restaurant, coffee corner and medical centre. The second phase will be the development of 565 high-rise student apartments.
Niels Donkervoort, Consultant for Turner & Townsend, said:
“Turner & Townsend is honoured to be supporting the first municipal PPP town hall project in the country and to be providing in-depth, independent technical advice and insight for a development on the largest and oldest Dutch public technical university.
“Using our knowledge and expertise as technical advisors, we aim to support lenders to navigate the risks associated with these kinds of capital investment projects across Europe.”
Ferry Pankras, Specialist Infrastructure / PPP from for BNG Bank, added:
“As a long-term investor in PPP projects, we value the PPP and commercial transaction expertise Turner & Townsend will bring to the table. Their extensive and professional technical knowledge will provide a vital component of our internal credit proposals.
“Turner & Townsend has a clear picture of what a financier needs to know about the technical aspects of building, road or other public infrastructural work, including the associated maintenance and facility management. We like their pragmatic view and we believe our clients appreciate this approach as well.’’