Infrastructure firm lines up £26m mounties hq deal

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HICL Infrastructure intends to buy a 99.9% interest in the Royal Canadian Mounted Police headquarters in British Columbia for C$53 million (£26 million).

Canada’s national police force, based in the 775,000 sq ft building, is responsible for enforcing federal laws including drug trafficking, counterfeiting and organised crime.

The seller is InfraRed Infrastructure Fund III, and the property was originally procured by the Queen in the Right of Canada. The group’s third investment in the country, it is set to join Barnet Hospital in north London in the HICL fold. Chairman Graham Picken said it “helps diversify the current portfolio further by geography”.

HICL agreed to snap up a 50% interest in the Southmead Hospital project in Bristol from Carillion for £87.8 million earlier this month. 

A meeting will be held on August 12 to vote on the Canada purchase. The shares today dipped 0.3% to 153.1p.

Source Article from http://www.standard.co.uk/business/business-news/horse-play-infrastructure-firm-lines-up-26m-mounties-hq-deal-10396401.html

July 18, 2015 |
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