Scheme covering 13 schools is third win for contractor's BSF vehicle
Balfour Beatty is the selected bidder for a £200m Building Schools for the Future programme in Southwark.
The project will involve the delivery of a major capital investment programme over three phases, covering 13 school projects across the London borough.
The development will be the third full BSF project for Transform Schools, Balfour Beatty's education sector PPP concession vehicle.
Commenting on the award, Ian Tyler, chief executive of Balfour Beatty, said: “We look forward to utilising our experience and creating first-class new learning environments in Southwark.”
All construction work on the project will be carried out by the UK-based contractor's subsidiaries Balfour Beatty Construction and Balfour Kilpatrick. Haden Building Management, another Balfour Beatty subsidiary, will undertake facilities management.
The development is aimed to incorporate renewable technologies to achieve a reduction in carbon dioxide in operation in excess of 60%.
Financial close is scheduled for the second quarter of 2009, with the first new schools opening in September 2010 and 2011. Balfour Beatty will invest £6m of equity in the programme.