HICL sells stake in UK university PFI

Credit: University of Sheffield

InfraRed’s HICL has exited the University of Sheffield’s PFI project.

The firm has sold its 50% share in the project for £18m.

The 4191-unit accommodation project, constructed by Lend Lease, became operational in 2009 and is currently in its 40-year concession period.

In 2013, the firm acquired a 50% equity and loan note share in the project from an InfraRed fund.

The move marks the 9th disposal of assets by HICL this year, including exiting the Bradford Building Schools for the Future 1 & 2 bundles.