Deal for Nottinghamshire County Council worth £123m for Balfour Beatty over 25 years.

Balfour Beatty has announced that its PFI arm has been appointed preferred bidder for the 25-year £123m Bassetlaw Schools PFI by Nottinghamshire County Council.

Balfour Beatty’s PFI arm Transform Schools will invest £8m of equity in the project, which will consist of five new secondary schools, a new special school and two new leisure centres in Retford, Worksop and Tuxford. There will also be two new centres for post-16 education.

Balfour Beatty chief executive Mike Welton said: “We are delighted to have been chosen to provide Bassetlaw with new facilities and support Nottinghamshire County Council’s objective of giving pupils and teachers an enhanced environment where learning can flourish."

Construction work will be carried out by Balfour Beatty subsidiaries Balfour Beatty Construction and Balfour Kilpatrick. Balfour Beatty subsidiary Haden Building Management will carry out the facilities management, which will be worth in excess of £100m.

Bassetlaw Schools PFI is Balfour Beatty’s fourth major schools PFI project through Transform Schools in partnership with joint investment firm Innisfree.