Contractor will provide property specialist Mapeley with management services worth £50m a year for next 15 years.

Contractor Alfred McAlpine has signed its largest ever contract, worth £50m a year for the next 15 years.

The contract, with property investment and outsourcing specialist Mapeley, will see McAlpine provide Mapeley with management services across an extensive portfolio of UK properties.

The contract is one of the two major long term facilities management contracts referred to in the trading statement issued by Alfred McAlpine on 10 January 2006. It will run until spring 2021 and has a value of approximately £50m a year once all the services are being provided.

Over two years starting from 1 May the contract will be expanded to cover the provision of a total facilities management service, including health and safety compliance, across the portfolio.

Ian Grice, chief executive of Alfred McAlpine commented: "The size and nature of the contract represents a tremendous opportunity for Alfred McAlpine and confirms our position as one of the UK's leading providers of support services to both the public and private sector."

"Winning a contract of this length and complexity, which is our largest ever, is testament to our reputation for service delivery, innovation and continuous improvement. It is also a clear example of our strategy to build long term, sustainable earnings. We look forward to a long and successful relationship with Mapeley."