Southern Renewal Partners, comprising Plenary Group, Webuild, Leighs Construction and Serco, has achieved financial close with the New Zealand Department of Corrections for the NZ$440 million (US$254.6 million) Christchurch Men’s Prison Redevelopment Project – Phase One in Templeton, west of Christchurch, New Zealand, where the consortium will finance, design, construct and maintain the upgraded correctional facility under a public-private partnership (PPP). 

The project entails the redevelopment and expansion of the existing Christchurch Men’s Prison, an operational minimum- to high-security correctional facility in Templeton, west of Christchurch city centre. It will deliver modern prison accommodation and supporting infrastructure designed to meet the New Zealand Department of Corrections' operational requirements, while providing a safer and more efficient environment for staff and inmates. The works represent the first stage of a four-phase master redevelopment programme, with each successive phase connected through a new perimeter layout that will progressively integrate the new facilities with the existing prison infrastructure.

The project is being delivered as a public-private partnership, with Southern Renewal Partners set to finance, design, construct, and maintain the facility for the construction period plus 25 years in partnership with the New Zealand Department of Corrections. Southern Renewal Partners consortium comprises

• Plenary Group as lead sponsor, 65% investor, financial and commercial adviser, and SPV manager
• Webuild as 25% investor and D&C joint venture lead
• Leighs Construction as 10% investor and D&C joint venture partner
• Serco as asset management and facilities maintenance contractor

The New Zealand Department of Corrections will continue to be responsible for all custodial operations and prison management. Project financing has been secured through debt facilities provided by a consortium of international lenders comprising ANZ, HSBC, ING, Intesa Sanpaolo and Westpac.