Balfour Beatty seals £200m schools partnership deal

A £200m partnership agreement between Balfour Beatty, Southwark council, Partnerships for Schools and Building Schools for the Future Investments (BSFI) has reached financial close today.

Southwark council, Balfour Beatty (trading as Transform Schools) and BSFI, signed off the deal after a 20-month procurement process.

Transform Schools beat two other bidders in November 2008 and has been working alongside the Southwark Schools for the Future Team with support from Southwark schools and Partnerships for Schools.

The Southwark local education partnership (LEP) is better known as "4 Futures", and will now aim to deliver seven secondary school rebuilds, two brand new schools and four building refurbishments across Southwark, funded under the national BSF programme.

Commenting today, Ian Tyler, Balfour Beatty chief executive said:

“We look forward to using our experience of working on eight major PPP education projects to create first-class new learning environments in Southwark.”

Tim Byles, chief executive of Partnerships for Schools, the government agency responsible for delivering the BSF programme, said:

“With 58 BSF schools now open across the country the national programme to rebuild and renew secondary schools is gaining momentum. Building Schools for the Future is not just about bricks and mortar; new and refurbished schools make a positive difference to the lives of young people and to their communities. Since the Outline Business Case in 2007 Southwark has hit every milestone and has brought innovation to the process. I look forward to following the Southwark BSF project as it progresses.”