24th Dec 2015 07:59
LONDON (Alliance News) - Ashley House PLC on Thursday said it has completed two deals with Funding Affordable Homes and has offloaded its liabilities on its UK National Health Service LIFT joint ventures.
The company said it has now signed a funding and partnering agreement with Funding Affordable Homes which will cover the full funding for the design and construction, plus long-term investment funding, for Ashley House's extra care developments in Harwich and Walton on the Naze.
The two schemes are expected to generate revenue of around GBP21.0 million, and Ashley House has drawn down GBP2.6 million to repay short-term debt it had taken on to fund the early stages of the developments.
Ashley House also said it has agreed to shift its liabilities on seven NHS LIFT joint ventures to MAMG Ltd, a major provider in the operational management service agreement segment of the NHS. The LIFT ventures are a project in the NHS to partner with private companies to deliver new, modern healthcare facilities.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
ASH.L