The required 拢700m funding will be raised using a new PF2 鈥榓ggregator鈥� model, able to access both the bank debt and capital markets to secure the best deal.
The Hertfordshire, Luton and Reading batch will be launched at a bidders day due to be held by the EFA on 28 May 2013. A notice inviting bids from firms interested in constructing and maintaining the schools will be published in the Official Journal of the European Union in June.
The other batches, to be released to the market over the next 12 months, are:
- the North East
- the North West
- Yorkshire
- the Midlands
The performance of the 鈥榓ggregator鈥� model will be assessed to inform future investment in the education estate which will be identified by the property data survey programme, due to report in October this year.
Ministers have also announced the allocation of a further 拢300m of capital funding in the current spending review period to enable an early start for 27 further schools in the programme. These schools will be procured in four batches.
The remaining schools in the programme are intended to be delivered using traditional capital funding, subject to the next spending review settlement. The timetable for the remaining schools in the programme will be announced after the settlement is made in June.
Peter Lauener, chief executive of the EFA, said: 鈥淚 am delighted we can confirm the schools to be rebuilt through private finance. The government鈥檚 new approach to public private partnerships provides a great opportunity for industry to step up to the mark and I am looking forward to seeing innovative and cost-effective proposals.
鈥淭hese five privately-financed batches, plus the additional four capital-funded batches also announced today, will help us overhaul the schools with the greatest need, ensuring young people can learn in buildings that are up to scratch.鈥�
The five PF2 batches are:
|
Batch |
Approx. no. of schools |
Approx. construction Value |
Local authorities |
|
Hertfordshire, Luton and Reading |
7 |
拢122尘 |
Durham, East Riding, Gateshead, Sheffield, Stockton-on-Tees, Sunderland |
|
North East |
12 |
拢94尘 |
Durham, Gateshead, North Tyneside, Northumberland, Redcar & Cleveland, Stockton-on-Tees, Sunderland |
|
North West |
12 |
拢93尘 |
Blackpool, Cheshire West and Chester, Halton, Manchester, Stockport, Wigan, Wirral |
|
Yorkshire |
7 |
拢97尘 |
Bradford, Kirklees, North Yorkshire |
|
Midlands |
8 |
拢122尘 |
Birmingham, Coventry, Derbyshire, Nottingham, Sandwell |
There are twelve batches of schools in the PSBP being funded using capital grant. These will be delivered using the DfE鈥檚 Contractors鈥� Framework.
These batches are:
|
Batch |
Approx no. of schools |
Approx. construction Value |
Local authorities |
|
North East 1 |
9 |
拢57尘 |
Durham, East Riding, Gateshead, Sheffield, Stockton-on-Tees, Sunderland |
|
Midlands1 |
6 |
拢38尘 |
Coventry |
|
London |
7 |
拢75尘 |
Barnet, Bromley, Camden, Greenwich, Lambeth, Newham, Waltham Forest |
|
North West 1 |
8 |
拢47尘 |
Blackpool, Cheshire West and Chester, Halton, Manchester, Tameside |
|
South |
7 |
拢30尘 |
Bristol, Devon, Isle of Wight, Poole, Southampton, Wiltshire |
|
East of England 1 |
6 |
拢33尘 |
Cambridgeshire, Essex, Herts, Kent |
|
Midlands 2 |
4 |
拢28尘 |
Birmingham, Derby, Notts |
|
North West 2 |
4 |
拢21尘 |
Liverpool, St Helens, Wirral |
|
West Midlands |
8 |
拢39尘 |
Birmingham, Sandwell, Staffordshire, Wolverhampton |
|
North East 2 |
7 |
拢63尘 |
Hartlepool, Redcar & Cleveland, Stockton-on-Tees, Sunderland, |
|
East of England 2 |
6 |
拢60尘 |
Essex, Herts, Suffolk, Peterborough |
|
North West 3 |
6 |
拢48尘 |
Bury, Manchester, Oldham, Salford, Tameside |
Got a story? Email news@theconstructionindex.co.uk
