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Land Securities
Annual Report 2008

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Land Securities Trillium review

New business

Property partnerships

  • Defence Training Review
    Having won preferred bidder status in January 2007, Metrix - our 50:50 joint venture with QinetiQ - continues to work with the Ministry of Defence to create a new defence training academy at St Athan, South Wales. This is one of the UK’s largest PPP projects.
  • Workplace 2010
    This is a 20-year contract to provide a full range of property outsourcing services for the Northern Ireland Civil Service. Workplace 2010 includes a major five-to-seven-year programme to transform the Northern Ireland Civil Service’s office estate, improve working environments for staff and facilitate new ways of working, with the aim of delivering greater value for the taxpayer. We are one of two final short-listed bidders.

PPP

  • Education
    With Northgate Information Solutions, we were announced as Kent County Council’s preferred bidder for the first phase of its £1.8bn BSF programme. Through this, we will enter into a new £600m public private partnership with Kent County Council and Partnerships for Schools to refurbish or rebuild secondary schools and help transform education in the Gravesham, Swale and Thanet districts by 2014. Our success in Kent builds on our work across the UK, where we now own or manage 197 schools with 174,000 pupils. This year we were also named as one of the two fi nal short-listed bidders for the Birmingham BSF programme, with a fi nal decision expected in September 2008; and in April 2008 e4i (Education for Inverclyde) - a consortium comprising Trillium, Miller Construction, Cyril Sweett and FES - was named preferred bidder for the £80m Inverclyde Schools PPP project.
  • Waste
    This year we secured our first major success in the fast-growing waste sector. Working in partnership with Norfolk Environmental Waste Services and Cyril Sweett Investments, we became preferred bidder for Norfolk Waste Management Contract A, a 25 year project to build and operate an Advanced Mechanical Biological Treatment (AMBT) facility to treat and recycle solid waste. AMBT facilities are considered effective and environment-friendly, and we are now demonstrating to other local authorities that our solution in Norfolk can help them meet pressing EU environment and waste targets.
  • Thornton Hall Prison
    Working in partnership with Global Solutions Limited, in the Leargas consortium with McNamara and Barclays Private Equity, we have been named preferred bidder for Thornton Hall, a €500m PFI prison near Dublin, Republic of Ireland.

Chart 40

History of Trillium

History of Trillium
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Chart 41

The Trillium business model

The Trillium business model
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Table 42
Trillium financial results Year


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Education

This year, ‘Investment in school facilities and PFI – do they play a role in educational outcomes?’, an independent KPMG report, stated that new PFI schools are improving pupil performance.