A consortium led by contractor Mowlem and project financer Innisfree has been named preferred bidder for a £20m PFI courts project in East Anglia.
The Modern Courts team beat Norwest Holst/McBaines Investment Management, which was named reserve bidder.

The Lord Chancellor's department will now negotiate exclusively with Modern Courts to finalise the deal. The deadline is 18 September The consortium will build and maintain four crown courts in Ipswich, and two crown courts and three county courts in Cambridge.

Sites have been bought for the nine courts which will be designed by Morden Courts' architect Austin-Smith:Lord.

The consortium expects to earn about £500,000 a year in facilities management revenue for the 25-year contract.

Morden Courts is also working on a £19m magistrates' court PFI project in Humberside. The construction phase of this project is nearing completion.

Mowlem and Innisfree are also part of the NewSchools Cornwall consortium that has reached financial close on a £200m PFI project to run 26 of the county's schools for the next 25 years.

  • The Ministry of Defence has drawn up a shortlist of four for the first phase of a £2.9bn PFI contract.

    Brey Utilities (led by Yorkshire Water), Diamond Alliance, Thames Water and CTC (led by Severn Trent) are bidding for a contract to maintain and operate water and wastewater assets at 1000 sites. A preferred bidder for the 25-year contract will be selected in 2003.