RNS Number : 1459X
BBGI Global Infrastructure S.A.
30 April 2021
30 April 2021
BBGI Global Infrastructure S.A.
("BBGI" or the "Company")
Completion of a social infrastructure investment in London,
BBGI Global Infrastructure S.A. (LSE ticker: BBGI), the global
infrastructure investment company, has completed the acquisition of
a 100% interest in a social infrastructure investment consisting of
two recreation facilities and 100 affordable residential units
across two sites in the London Borough of Tower Hamlets, UK.
The public-private partnership project originally consisted of
the design, construction, financing, operation, maintenance and
rehabilitation of separate buildings: the major regeneration and
refurbishment of the derelict Poplar Baths building into a modern
first-class community leisure centre and the construction of the
Haileybury Community Centre, Randall House (60 affordable
residential units), Dame Colet Court (25 affordable residential
units) and Baltonsborough Court (15 affordable residential
Construction was completed in 2016 and the concession runs until
2051. The asset is classified as availability-based under the
investment policy of the Company. Availability payments are
received from the London Borough of Tower Hamlets.
The historic Poplar Baths building, on East India Dock Road in
London, was first redeveloped and opened in 1934 and remained a
much-loved local landmark until its closure in 1988. The
refurbished and restored facility now includes a 25m swimming pool,
a learner pool, 'vapour baths', a Sports England standard sports
hall, two studios for exercise classes, a gym and a rooftop multi
use games area, whilst the historic features of this Grade II
listed building have been protected and restored.
The Haileybury Community Centre, now a focal point for the local
community, consists of a sports hall, a public viewing gallery,
fitness & dance studio, rooms for art, IT, music and meetings,
and a commercial grade kitchen to support 'food tech' training. It
also features a new rooftop with a state-of-the-art multi-use games
area and a new multi-purpose rooftop pitch.
The residential housing units were designed and built in
compliance with best practices to ensure excellence in design
quality, amenities and sustainability, including the Code for
Sustainable Homes Level 4, the London Housing Design Guide,
Lifetime Homes and Secure by Design.
London Borough of Tower Hamlets is responsible for the operation
of the leisure centre and the affordable housing units. BBGI is not
responsible for letting risk or responsibilities within the
residential units or the community centre.
As per the arrangements between the parties, the specific
purchase price is confidential but is between GBP 20 million and
GBP 30 million. The consideration for the interest acquired has
been funded from drawing upon the Company's corporate revolving
Following this acquisition, BBGI now owns a globally diversified
portfolio of 51 infrastructure investments in the transport,
healthcare, education, blue light and other services sectors which
are geographically located in Australia, Canada, Continental
Europe, the UK and the US. The Company seeks to limit and reduce
investment risk where possible, with the current portfolio
benefitting from 100% availability-based assets of which 99% are
operational. The Company also maintains a diversified supply chain
in regard to facilities management and operational and maintenance
Commenting, Co-CEOs Duncan Ball and Frank Schramm said:
"We are delighted to complete this high-quality
availability-based social infrastructure investment with strong ESG
credentials. Our strategy is to remain disciplined and selective in
our approach to acquisition opportunities by only investing in
availability-based assets that also align with our ESG principles,
and not in higher risk infrastructure asset classes."
FOR FURTHER INFORMATION, PLEASE CONTACT:
BBGI Management Team +352 263 479-1
adviser) +44(0) 20 7379 5151
James Benjamin / Jason Ochere BBGIfirstname.lastname@example.org
/ Rhys Jones
BBGI Global Infrastructure (BBGI) is a responsible
infrastructure investment company and a constituent of the FTSE 250
that invests in and actively manages for the long-term a globally
diversified, low-risk portfolio of essential social infrastructure
BBGI is committed to delivering stable and predictable cash
flows with progressive long-term dividend growth and attractive,
sustainable, returns for shareholders. BBGI has a proactive
approach to preserving and enhancing the value of its investments,
and to delivering well maintained social infrastructure for
communities and end users, whilst serving society by supporting
All of BBGI's investments are availability-based and supported
by secure public sector-backed contracted revenues, with
inflation-protection characteristics, that is paid so long as the
assets are available for use.
BBGI's investment portfolio is over 99% operational with all its
investments located across highly rated investment grade countries
with stable, well developed operating environments.
BBGI's in-house management team is incentivised by shareholder
returns and consistently maintains low comparative ongoing charges
Further information about BBGI is available on its website at
The Company's LEI: 529900CV0RWCOP5YHK95
Any reference to the Company or BBGI refers also to its
subsidiaries (where applicable).
* Neither the Company's website nor the content of any website
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(or is deemed to be) incorporated into, or forms (or is deemed to
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(END) Dow Jones Newswires
April 30, 2021 02:00 ET (06:00 GMT)