Posts tagged Official Journal of the European Union

Private finance to rebuild 46 schools

Private finance to fund rebuilding 46 schoolsThe Education Funding Agency (EFA) has announced that 46 schools will be rebuilt using private finance under the next steps of the Priority School Building Programme (PSBP) that will boost the trades and create jobs.  

46 schools in 5 batches will be rebuilt under the government’s new approach to public private partnerships, known as PF2. These schools have a total funding requirement of approximately £700 million.

The funding is set to be raised using an innovative new ‘aggregator’ model. The ‘aggregator’ will be able to access both the bank debt and capital markets in order to secure the best deals for the taxpayer.

The Hertfordshire, Luton and Reading batch will be launched at a bidder’s day due to be held by the EFA on 28 May 2013. A notice inviting bids from firms interested in constructing and maintaining the schools will be published in the Official Journal of the European Union in June.

The other batches, to be released over the next 12 months, will see the creation of more jobs in the building engineering industry as well as benefit from the future investment fund.

The announcement underlines the government’s commitment to using public private partnerships to deliver investment in new public infrastructure and assets.

Ministers are also announcing the allocation of a further £300 million of capital funding in the current spending review period to enable an early start for 27 further schools in the programme. These schools will be procured in 4 batches.

The investment is part of the government’s commitment to give children the best possible start in life and to make sure schools are a place where children can fulfil their aspirations.

The remaining schools in the programme are intended to be delivered using capital funding, subject to the next spending review settlement. The timetable for the remaining schools in the programme will be announced after the settlement is made in June.

Peter Lauener, Chief Executive of the EFA, said: “I am delighted we can confirm the schools to be rebuilt through private finance. The government’s new approach to public private partnerships provides a great opportunity for industry to step up to the mark and I am looking forward to seeing innovative and cost-effective proposals.”

“These 5 privately-financed batches, plus the additional 4 capital-funded batches also announced today, will help us overhaul the schools with the greatest need, ensuring young people can learn in buildings that are up to scratch.”

HS2 to recruit local land and property management firms to boost the trades

HS2 to recruit local land and property management firms to boost the trades

High Speed Two Ltd (HS2), the company planning and building Britain’s high-speed rail network is going to recruit local property management companies along the route between London and Leeds to boost the trades and create new jobs.

HS2 is seeking expressions of interest to provide both local as well as wider national expertise in valuation services; estate services; property management and in both urban regeneration and commercial development.

The aim of this is to spread the economic benefits of planning and building the new railway across the country from the earliest opportunity and boost the economy.

Local firms will be able to add to HS2’s knowledge and provide focused local expertise about the area in which they are based and boost confidence among local people.

Commenting, HS2 Ltd.’s Head of Land & Property, Liz Hirst, said: “We are looking for firms with local and national expertise who can help us with property management, surveying, valuation, development and regeneration services.

“We want to create opportunities for local and small business contractors and we are interested in learning more about both large and small companies with the skills that will be needed on HS2.”

An Official Journal of the European Union contract notice has been published inviting expressions of interest for the HS2 Ltd Land and Property Professional Services Framework.

 

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