Land Securities Trillium forms joint venture with PPP specialist Mill Group to bid for £250m Building Schools for the Future project.
Land Securities Trillium has formed a joint venture to bid for Leeds council’s £250m Building Schools for the Future (BSF) project.
The property outsourcing business has teamed up with the privately-held PPP specialist Mill Group to form Investors in the Community Group (IIC). Both parties have a 50% stake.
Mill Group already runs a programme named Investors in the Community, which is shortlisted for £350m of BSF projects in addition to its plans for Leeds.
It has already completed around 30 facilities and manages a £140m portfolio of ten secondary and six primary schools, as well as 18 local authority and healthcare facilities with a value of more than £280m.
Land Securities Trillium, which will pay around £20m for a 20% stake in Mill Group’s current fund management business, hopes that it will be able to cash in on Mill Group’s reputation and potential contracts in the community PPP and BSF markets.
Under the agreement, Mill Group will bring procurement and scheme management to the venture.
Land Securities Trillium chief executive Ian Ellis said that the venture would “accelerate our strategic move into the BSF marketplace and substantially increase the potential scope of projects that both organisations can now target.”
Mill Group and IIC chief executive David Toplas said: “We are looking forward to working together to offer a really strong proposition to local authorities and others investing in education or community renewal.”