Firm will continue to provide facilities management to projects

Contractor Kier has sold its stake in two PFI schemes for a total of £5.4m.

The firm sold its stake in the Bournemouth Library to infrastructure management firm Equitix Education 2 and its share of the Greenwich Neighbourhood Resource Centres project to co-investor the Sanctuary Housing Association.

The contractor built both projects and will continue to provide facilities management services for 20 years and 22 years to the Bournemouth and Greenwich projects respectively.

Paul Sheffield, chief executive of Kier Group, said: “Both of these projects are good examples of Kier providing a comprehensive and fully-integrated service to clients, with both our construction and facilities management businesses working well together.

“The sales continue our strategy of selectively realising the value of our PFI portfolio for subsequent re-investment in the group.”