UK: Financial Close On Phase 2 Of The Bradford Building Schools For The Future Scheme
Last Updated: 25 September 2009

Shadbolt LLP has advised the Ferrovial-Agroman UK Ltd - Costain Ltd Joint Venture on the second phase of the Bradford BSF programme. 

The £177 million deal under the Government's BSF programme will involve the build of new schools for Grange Technology College, Beckfoot School, Hanson and Greenhead School, with new secondary special schools being co-located on the same site.  This is in addition to three new primary special schools signed in November 2008, which are co-located on the sites of mainstream schools: Delius in Bradford, Moor co-located with Chellow at Heaton and Phoenix at Guardhouse Keighley and a new primary school at Guardhouse.  Work commenced in May 2009 under an Early Works Contract, and the new schools should open in 2010/2011.

The deal is a collaboration with Bradford Metropolitan District Council and the Integrated Bradford Local Education Partnership (comprising Amey and Costain) who were appointed the preferred bidder for the project in January 2006. Phase 1 reached financial close in December 2006, with Shadbolt advising the same joint venture.

Commenting on the deal Daniel Tain, Partner at Shadbolt, said: "We are delighted to have closed this interesting and complex project, involving a club of commercial banks and EIB, which will see seven new schools built in Bradford."

Luis Amorim, CEO of Educo, the construction JV between Costain Ltd and Ferrovial-Agroman UK Ltd, added "I am looking forward to building on the strong relationship with Bradford Metropolitan District Council and the LEP, and through our strong partnering ethos delivering state of the art education facilities in Bradford."

Notes to editors:

Addleshaw Goddard acted for Bradford Metropolitan District Council. DLA acted for the SPV, Integrated Bradford LEP.

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