Consultant advisor on phase one of £180mn scheme
Consultant Davis Langdon’s team in Scotland has helped deliver the first phase of a Building Schools for the Future (BSF) scheme in Newcastle. The firm carried out due diligence in terms of risk on both the project and financing of the £180mn project.
Funded partly through the private finance initiative and the BSF programme, the project represents the biggest ever investment in schools in the city. Set to provide seven privately financed schools (two secondary, four primary and one SEN) the scheme has reached financial close.
Kevin Bradley, partner in Davis Langdon’s Glasgow office, said: “This is an extremely important scheme for the area and one which allowed us to utilise our breadth of experience in the sector. We look forward to the challenge of helping to deliver the next phase.”
Sir Robert McAlpine consortium Aura, made up of Sir Robert McAlpine, Scottish-based development company, Robertson Capital Projects, Ryder architects and Parsons Brinckerhoff, formed a PPP with Newcastle City Council and BSF delivery vehicle, Partnerships for Schools to manage the project.
Part two will comprise a further eight schools expected to reach financial close during 2007.
Currently, the Scotland team is working on £1.5bn of PFI/PPP projects across Scotland including Gartnavel Hospital, North and East Ayrshire Schools, Clackmannanshire Schools, Clackmannanshire Community Health, West Dunbartonshire Schools and St Andrews Primary Care, Forfar & Carnoustie Schools PPP and Dundee Schools PPP.