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ISP G.Network Seek £200m to Boost Urban UK Full Fibre Rollout

Monday, March 9th, 2020 (7:21 am) - Score 2,755
gnetwork_fibre_works_in_street_london

UK ISP G.Network, which is currently deploying a new gigabit-capable (10Gbps) Fibre-to-the-Premises (FTTP) based broadband network to homes and businesses across parts of central London, is reportedly seeking an investment boost of around £200 million in order to accelerate their future roll-out plans.

The provider, which has already hoovered up around £65m of private investment between 2017 and 2018 (here), first started their civil engineering work on King Street (St James / W1 postcodes) in January 2019 and since then they’ve begun FTTP builds around parts of Mayfair, Camden, Marylebone, Tower Hamlets, Kensington & Chelsea, Hackney and Bayswater etc.

NOTE: G.Network is partly owned by Luxembourg-based Cube Infrastructure Managers.

We last spoke with G.Network about the progress of their build last month and at that time they had covered 75,000 premises (up from 40,000 in September 2019) and thus it won’t be too long before they pass the key milestone of 100,000 premises (the aim of their initial build is to complete 120,000 premises passed). The current build rate is c.10,000 premises per month.

Naturally the operator will want to continue their work and that requires money. According to Sky News, the provider has hired investment bankers from Rothschild to help find around £200m from the sale of new shares and private debt markets. The strength of their existing build suggests that it shouldn’t be too challenging for them to find the funding they want.

Residential packages tend to start from £28 inc. VAT per month for an unlimited 150Mbps (50Mbps upload) service that includes a free wireless router and there’s a £50 connection charge (free with a voucher). There’s no mention of a minimum contract term for this plan so we believe it’s a 30 day arrangement.

By comparison the top package costs £57 per month (currently reduced to £48) for a symmetric 1Gbps speed, which is said to be available in either 1 or 2 year contracts.

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By Mark Jackson
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on Twitter, , Facebook and Linkedin.
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10 Responses
  1. CarlT says:

    Well done them. Great to see alternative networks that are building at pace.

  2. A_Builder says:

    Oddly I just keyed an address that I know they have passed in Bayswater and it came back as not covered.

    I know because I saw their teams doing the civils last autumn.

    1. Mark Jackson says:

      It’s not uncommon for there to be a lengthy time-lag between some builds taking place and the service itself going live, although the pressure to secure a first mover advantage usually ensures that such windows are as small as possible. If you share the street name then I can always ask G.Network directly?

    2. GT says:

      I have such an address. It’s Gloucester Terrace, Bayswater and it’s G.Network. Can you look into it, Mark?

  3. Altnet fan says:

    This is great news G. NETWORKS seem to be doing well. Of course this could be a glimpse into the not too distant future. If you try and get around half of London you seem to hit roads closed or partially closed because of G. Networks digging.
    Much of the UK is about to be churned up with all this fibre build.
    Should be fun for us all 🙂

  4. whatwhatinthewhat says:

    UK ISP?

    Try london only ISP …

    1. Mark Jackson says:

      London is in the UK and G.Network may well go beyond London.

  5. Tony Hall says:

    Hi. ‘There’s no mention of a minimum contract term for this plan so we believe it’s a 30 day arrangement.’ It’s a two year contract. A one year contract is £30 a month for residential. They are laying cables in my street, so I’m checking them out. Thanks for your very useful web site.

    1. Mark Jackson says:

      Interesting, they should probably put that in their residential T&Cs as I can’t find it mentioned anywhere.

    2. NE555 says:

      The residential T&Cs say: “You are required to purchase the Services (and We will provide the Services) for the Committed Term stated in the Order Form”

      So it depends on what the service you buy defines.

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