Businesses get connected with York CORE network

CityFibre, a leading designer, builder, owner, and operator of fibre optic infrastructure in UK towns and cities, has announced its York CORE network reported a record month for new sales in June 2015.

Overall, CityFibre signed contracts covering 70 new connection during last month, which resulted in a total contract value of £527k.

The new connections span a wide range of sites, including public safety (school security and traffic enforcement CCTV), business and data centre connectivity, and landmark public sector amenities such as the York Theatre Royal and the York Eco Business Centre.

The latest connections added to the network bring the ever-growing total contract value added to the York project to £3.4m, an increase of 79% over the initial anchor contract.

In keeping with CityFibre’s financial return targets for business growth, TCV/capex coverage on these new connections is well in excess of 100%, with an average payback period of 24 months.

Greg Mesch, chief executive of CityFibre, said: “These latest sales figures from York are a great validation of the ongoing demand for fibre connectivity to every conceivable category of end user under our Gigabit City model. We started out under the York anchor contract with just 105 connected sites, and this latest set of connections will take us to 348 across the city, or roughly three connections per kilometer of network.

“This is well ahead of international benchmarks and underlines the strength of our shared infrastructure model. Moreover, the financial metrics of new business remain strong, in line with our long-term strategy of delivering high returns on incremental capital deployed.”