Nationwide backs Liverpool Library PFI
THE commercial arm of Nationwide Building Society – led by respected North West banker Bryce Glover- is funding half the £54m redevelopment of Liverpool Library.
The PFI deal, is the Nationwide’s most high profile in the region since Mr Glover – formerly with Alliance & Leicester Commercial Bank and the Co-operative Bank – joined the mutal last year.
Nationwide has provided £27m to help secure the future of the 150 -year-old building with the remaning sum beign provided by German bank Helaba.
The contract to redevelop the 150-year old library was signed by council leaders and the Inspire Partnership last month. Work will begin this autumn.
The Inspire Partnership is a joint venture between Amber Infrastructure and Shepherd Construction.
Mr Glover said: “Nationwide is delighted to have been able to support Amber Infrastructure in securing the future of Liverpool Library, one of the most celebrated of its kind in the UK.
“This further underlines our commitment to delivering tailored PFI packages which directly meet the needs of our clients.”
Nationwide Commercial has recently supported other projects, refinancing four separate projects comprising 48 schools in Liverpool, Kirklees, Salford and Wigan.
