M40: SPV Management
The M40 came 2nd in the Highways England Best Motorway Customer Survey in 2019-20. Vercity is currently assisting in planning the handback of the project in the most effective way possible.
Sector
Transport Infrastructure
Key Stakeholders
Highways England
The project
Vercity provides the management service agreement (MSA) to the project, with a particular focus on contract compliance to ensure the facilities management (FM) providers are delivering their contractual obligations in preparation for handing back the asset to the public sector. The M40 is a 30-year Design-Build-Finance-Operate (DBFO) private finance initiative (PFI) concession. The contract covers the management of the M40 motorway between junction 1 and junction 15 on behalf of the client, Highways England.
Approach
The area covers 123km of high speed, dual, two, three and four lane carriageways. It stretches across three counties, Buckinghamshire, Oxfordshire, and Warwickshire. The oldest part of the road dates to 1967, with the most modern being built in 1991. The DBFO was created in order to widen J1A – J3 to dual 4 lane, which was completed in 1998 using the PFI model. UK Highways, with Egis as its service provider, manages all assets (including lifecycle) between the boundary fences on either side.
Process
The project is now into the handback phase, as it comes to an end in early 2027. Vercity is currently assisting in planning the hand back in the most effective way possible. Through open dialogue and collaboration with the public sector, we aim to ensure that the asset meets all contractual obligations, whilst planning for its post-concession future.
The result
The M40 came 2nd in the Highways England Best Motorway Customer Survey 19-20. Vercity is currently working through its six-stage methodology to manage a successful handback. The approach is designed to support the requirements of the public sector as they plan for the future. In following our tried-and-tested process, we provide reassurance to Highways England that we can manage the transition, guide their strategic thinking and inform their decision making.
Project impact
Our award-winning collaborative working creates a positive impact for the public sector whilst maintaining investor returns. Our established consultancy services provide support to project teams internally, working closely to deliver a high-quality service to our clients. The M40 celebrated its 50-year anniversary in 2017. In implementing a robust reporting process, we help capture live data that leads to confident decision making. Our reports cover key operational and commercial considerations and include health & safety matters, operational structure, service efficiency, cashflows, and supply chain considerations.
Environmental Social Governance
Red Kites now thrive on the M40 Corridor having been extinct in England. Thirteen birds were released in 1990 near J5 to reintroduce the species. Great crested newts and slow worms are also some of the species that call the area surrounding the M40 their home.
Meet your contract obligations, deliver with confidence
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