PSBP North East Batch, UK

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Finance, construct, operate, and maintain six primary and six secondary schools for the Secretary of State for Education

The Priority Schools Building Programme ("PSBP") North East Batch project is a 26 year project, and is part of the PSBP Private Finance programme for procuring the financing, construction, operation and maintenance of 46 new schools in five geographic areas ('batches') across England. The North East Batch is the first project to close under this new model and, once constructed, will comprise six new-build secondary schools and six new- build primary schools. The client is the Secretary of State for Education.

Each privately financed batch will be procured under the Private Finance - model 2 (PF2) framework.

Through the wider programme, 260 schools will be rebuilt or have their condition-needs met by the Education Funding Agency (EFA).

The project reached financial close in March 2015. The construction works are being undertaken by a subsidiary of Galliford Try Plc over a period of 18 months from financial close and comprise the demolition of redundant buildings and the construction of the new schools. Capital expenditure is expected to be £103 million.

Hard FM services will be provided by a subsidiary of Galliford Try Plc over a 25 year period under a concession contract.