What is HISCo’s objective?
HISCo will provide a ‘design-build-finance’ service for onsite housing estate infrastructure, on fully commercial terms, to developers and landowners.
What type of infrastructure will HISCo deliver?
The type of infrastructure that HISCo will typically deliver includes estate roads, footpaths, cycle lanes, water and wastewater facilities, (mains and connections), amenity areas, utilities, public lighting, etc.
Who are the clients that HISCo are targeting?
HISCo’s business model is ideally suited to deliver infrastructure across sites in multiple ownerships and to single-owner sites of scale.
What geographical areas will HISCo cover?
HISCo will operate in Cork initially with the intention to scale nationally over time. The Company welcomes and encourages enquiries from all parts of Ireland
What type of developments will HISCo consider?
- Projects to be considered must be predominantly residential however there is a recognition that most schemes will contain retail and/or commercial elements
- HISCo aims to support the delivery of schemes that contain a mix of accommodation types and tenures
What is unique about HISCo?
The unique advantage of engaging HISCo is that repayment of the capital investment will only be required at a stage when the developer starts to realise income from the sale, or first occupation, of units, thereby reducing the pressure to tie up funding during the initial construction stages.
The release of such funding can open up the opportunity to finance other elements of the project such as, for example, development contributions and bonding.
How will repayments be calculated?
HISCo has developed a Financial Model which calculates a fee per square metre based on the cost of designing, managing and constructing the infrastructure. The fee will include a competitive rate of return for the investment by HISCo.
The fee per square metre will allow us to calculate a fee for each residential and retail/commercial unit.
The unit fee is then payable on the sale, or first lease, of each individual unit.
Who are HISCo’s Shareholders?
Cork County Council and the Ireland Strategic Investment Fund
How will the relationship between developers and HISCo be governed?
The contractual relationship between the Developer and HISCo will be governed by an Infrastructure Agreement which will clearly lay out the legal and financial responsibilities for both parties.
How can I express an interest?
At the initial stages you are encouraged to discuss your project with HISCo’s CEO.
For an initial discussion please call or email Niall Morrissey, CEO, Housing Infrastructure Services Company
00 353 87 8537000