Concessio Canonical ID
GB11P0000015
Registry Preview
Overview
Capital value
£60.1m
HMT 2025
Expiry
2040
14 years remaining
Unitary charge
£16.33m
FY 2026-27
Deep Scan
Investment ThesisLocked
Carlisle Northern Development Route is an operational Private Finance Initiative toll road concession in the United Kingdom, with 14 years remaining to the 2040 contract end — grantor Cumberland Council, operated by Connect Cndr Limited, a 2-holder equity registry on file (HMT 2025).
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Public Registry Fields
General Information
Display format
GB-11-P-000001-5
Country
United Kingdom (GB)
Sector
Toll Road (11)
Family
Transport
Structure
PFI/PF2 (P) · Private Finance Initiative
Grantor
Cumberland Council
Operator
Connect Cndr Limited
Financial close
15 Jul 2009
Operations start
10 Aug 2011
Contract end
10 Aug 2040
Capital value
£60.1m (HMT 2025)
Unitary charge (2026-27)
£16.33m
Equity holders (2025)Equitix — 75% · Balfour Beatty PLC — 25%
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Contract Economics
Financial Terms & ClausesLocked
| Term | Value | Price base | Period | As of |
|---|---|---|---|---|
| Unitary charge (annual) | £16.33m | Nominal · outturn | FY 2026-27 | HMT 2025 · verified |
| Indexation basis | ||||
| Availability deductions | ||||
| Performance deductions | ||||
| Market testing / benchmarking | ||||
| Termination compensation | ||||
| Change in law | ||||
| Handback provisions |
Contract clause library2 clauses on file
Force Majeure▪▪▪▪▪ extract + source cite
Change Of Control▪▪▪▪▪ extract + source cite
Locked rows show the standard UK PFI project agreement term set tracked by Concessio; extracted values render as they are verified against primary sources. Full clause text and citations are available in the app.
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Sector-Benchmarked
Operating KPIsLocked
| Metric | Latest | Period | Sector percentile | Coverage |
|---|---|---|---|---|
| Concession period (years) | 29 | — | 65th |
registry |
| Capital value | £60.1m | 2025 | 20th |
HMT annual · public |
| Availability (%) | ||||
| Deductions (% of UC) | ||||
| Lifecycle spend vs plan (%) |
Percentile bars show this concession's position against Toll Road benchmark cohorts in the registry (largest cohort n=2,704). Interquartile band shaded. Locked rows show the standard KPI set for this asset class — series and percentile placement unlock in the app.
Equity History
Ownership & TransactionsLocked
| Date | Event | Stake | Consideration | Implied EV | Counterparty |
|---|
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Counterparties
Parties & ContactsPartial
Grantor
Cumberland Council
Department for Transport (DfT) · United Kingdom
Operator / SPV
Connect Cndr Limited
Company No. 06566595
In the full profile
Management service co.
Hard FM provider
Senior lenders
Financial adviser
Legal adviser
Diligence Signals
Risk & CounterpartyLocked
Diligence signals
Grantor election exposure
Disputes & precedent
The full risk register covers counterparty credit, political cycle, regulatory determinations and dispute history for concessions in this class.
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Public Record
FAQs
Who is the grantor of this concession?
The grantor on file is Cumberland Council.
Who operates Carlisle Northern Development Route?
The operator on record is Connect Cndr Limited.
When does the concession expire?
The contract end on file is 10 Aug 2040 — 14 years remaining.
What is the unitary charge?
The unitary charge for FY 2026-27 is £16.33m per the HM Treasury 2025 return. The full indexed schedule is available in the platform.
What is the capital value?
£60.1m per the HM Treasury 2025 return.
Who holds the equity?
Per the HMT 2025 return: Equitix (75%), Balfour Beatty PLC (25%). Transaction history is available in the platform.
Transparency
Data & Sources
How this entry is verified
Reconciled against HM Treasury PFI/PF2 2025 summary data. View the gov.uk publication →
How Concessio sources data
Records are extracted from primary public sources — regulatory filings, government disclosures and official registries — and cross-checked before entering the platform. Every published datum carries its source citation in the app.