Colleges have been handed £50m to carry out vital renovation work over the next 12 months.

Vince Cable has announced the 149 colleges which will be given a chunk of a £50m central government fund for building work and renovation.

The Business Secretary announced that 149 colleges will receive up to £225,000 each, though some will receive up to £1m. The colleges will then have to more than match the funding by raising money from private sources, meaning that over £100m will be spent on college building work in England over the next year.

Business Secretary Vince Cable said: “Back in May the coalition announced £50m of investment in college building programmes which will now benefit more than a hundred colleges across the country.

“In allocating this £50 million funding, we have seen some impressive bids come in for ambitious and innovative projects from colleges that are planning for the future.

“Helping colleges modernise their facilities will give them a much-needed boost at a time when education could not be more important, and I am glad we have been able to provide them with this support.”

Building will start immediately on most projects, which are all due to be finished by September 2011.

The full list of eligible colleges is available here.