Oldham Library and Lifelong Learning Centre PFI
Equity Solutions & Partners’ wholly owned consultancy arm North Consulting provided lead, technical, legal and financial advisory services to Oldham Metropolitan Borough Council in the full procurement of the £21m Library and Lifelong Learning Centre project.
Financial close was achieved with private sector special purpose company (SPC) Information Resources in May 2004 and construction was completed in January 2006.
The project was advertised in April 2003, commercial close was reached in March 2004 and financial close in May 2004, making this one of the most efficient PFI projects ever procured.
The facility is a 6,500 sq.m state-of-the-art library and lifelong learning centre and comprises the second phase of the Council’s Cultural Quarter redevelopment, joining onto the existing Gallery Oldham with a shared reception area.
The project included the provision of ICT services for the whole life of the contract. North Consulting negotiated a specification and payment mechanism with the successful bidder that provides the Council with best value and incentivises the SPC to provide high quality and up-to-date ICT services throughout the contract term.
The project reached financial close within the Council’s affordability parameters. There being no increases in the project cost from appointment of preferred bidder to financial close.
The centre is one of the North West’s largest lifelong learning centres. The building has first class teaching accommodation, dedicated IT training suites and a skills-for-life centre.
