Interserve Kajima closes £135m schools deal

A joint venture between Interserve and Kajima has reached financial close on a £135m deal to design and build seven secondary schools across Hertfordshire, Luton and Reading.

The scheme was procured under the Priority School Building Programme and is one of the first batches of schools to be funded using the government’s PF2 private finance model. It will provide secondary facilities for more than 8,900 pupils and create almost 900 additional places.

Interserve Kajima, which was appointed preferred bidder by the Education Funding Agency in April 2014, will be responsible for the design and construction of the schools as well as all maintenance services over 25 years.

Dougie Sutherland, executive director at Interserve, said: “This is the 20th privately financed education project in which the group has invested and underlines our support for the government’s investment in education. As well as providing some 900 new schools places, we will commit to take on more than 50 young people to work on the projects under NVQs, apprenticeships and work placements.”

The secondary schools included in this tranche are Bishop’s Hatfield Girls’ School, Hatfield; Goffs School, near Cheshunt; Kings Langley School, Kings Langley; Longdean School, Hemel Hempstead; Reading Girls’ School, Reading; Stopsley High School, Luton; and Westfield Academy, Watford.

Construction started on all the schemes last month with the first due for completion in August 2016. All of the schools are set to open by November 2016.