This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

Financial close on £208m BSF contract in Nottingham

18 June 2008

Carillion and its joint venture partners, the Local Education Partnership (LEP), have achieved financial close on the £208m Nottingham Building Schools for the Future programme.

The LEP will deliver eight secondary schools in the current wave of the BSF programme, primarily through new build with some refurbishment and remodelling. In addition, there is potential to provide three new-build Academies as part of this project, two of which are currently being developed by the LEP.

Carillion will provide a fully integrated solution for the new schools. This will include investing around £4m of equity in the project, carrying out the construction work, valued at £180m, and providing facilities management services for three of the new schools, worth approximately £28 million over the 25-year concession period.

Building work on the new schools will begin this month and will be completed in 2010. The LEP will deliver further new schools for Nottingham City Council in subsequent waves of the BSF programme and may deliver other community and regeneration projects, subject to receiving the necessary approvals.

Commenting, Carillion chief executive, John McDonough, said: “We are delighted to have achieved financial close on our second project under the BSF programme, which we expect to be a strong growth area for the Group. We have built an excellent partnership with Nottingham City Council and now look forward to helping them deliver their education vision of sustainable and state-of-the-art community focused schools.”

The Local Education Partnership comprises Nottingham City Council, Partnerships for Schools and Carillion. Nottingham City Council and Partnerships for Schools will each provide 10% of the equity, with the remaining 80% being provided by Carillion.

Building Schools for the Future (BSF) is the largest single schools capital investment programme for over 50 years. BSF will provide world-class teaching and learning environments for all pupils, teachers and communities in England.

Carillion’s education portfolio includes the South Tyneside and Gateshead BSF project, which reached financial close in December 2007 and Tameside BSF, which achieved preferred bidder status in April 2008, along with 39 other schools provided under Public Private Partnership projects

Contact Details and Archive...

Print this page | E-mail this page


View more articles
Article image

Why the Law Says You Need a Nappy Bin Disposal Service

At home, parents are used to disposing of their babies’ used nappies the same way they do any other domestic waste - bagging it up and sticking it in the r...
Article image

PFM Partnership Awards 2021 winners

Last night saw the first live presentation of the PFM Partnership Awards since 2019 and the evening was hailed as a great success....
Article image

Zero carbon increasingly influencing contractual agreements

With the UK continuing to increase its efforts to achieve net zero carbon emissions by 2050, these efforts can be seen to be increasing their influence on ...
Article image

Global standard for reporting of carbon emissions in buildings published

Launch of the International Cost Management Standard (ICMS3) universal standard for the reporting of carbon emissions resulting from the construction and l...
Article image

Duty of care for home workers update issued by HSE

Employees working from home are entitled to the same duty of care from employers as they would be if working from a company-owned or run facility, says the...

Benchmarking maintenance

BSRIA has just published this year's operation and maintenance benchmarking report as a guide for building operators to evaluate their performance against ...