Regeneration partnership
January 27 2004 - 2:00AM
UK Regulatory
RNS Number:6530U
Connaught PLC
27 January 2004
CONNAUGHT PLC
#100 MILLION REGENERATION PARTNERSHIP WITH SOUTH SOMERSET HOMES
Connaught plc ("Connaught" or the "Company"), provider of property related
support services to the public and private sector, is delighted to announce a
ten-year regeneration partnership, worth a combined #100 million, with South
Somerset Homes ("SSH"), for the supply of planned maintenance, central heating
installation programme, gas servicing and capital works.
The creation of this partnership further extends the Company's relationship with
SSH, which started with a #800,000 pilot-partnering project in 2000.
Based in Yeovil, SSH is a not-for-profit organisation, which provides affordable
rented accommodation. Originally formed by South Somerset District Council, it
took over the ownership and management of 8,800 homes previously owned by the
local authority in March 1999. In addition, the Company also took over rented
garages, shared ownership properties and hostels.
Connaught is a leading provider of integrated services to the social housing
market, which continues to benefit from the Government's Decent Homes Standard,
whose objective is to overcome a #20 billion backlog in repair and maintenance
in the next decade.
Mark Tincknell, Chief Executive, Connaught said:
"In three years we have grown a single project worth less than a million pounds
to a #100 million relationship. This is a perfect example of the way Connaught
works in true partnership with clients, and demonstrates the real value of being
able to provide consistent, quality delivery."
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For further information, please contact:
Mark Tincknell, Chief Executive
Connaught plc Tel: 01392 444546
Anne-Marie Wilkinson / Robin Tozer
Bell Pottinger Financial Tel: 0207 861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
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