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Thu April 09 2020

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Interserve Kajima JV lands £100m Herts schools deal

15 Apr 14 The joint venture of Interserve and Kajima Partnerships is the Education Funding Agency's preferred bidder for the first batch of schools to be funded using the new PF2 private finance route.

With an estimated capital value of more than £100m, the Priority School Building Programme contract comprises new buildings at seven secondary schools across Hertfordshire, Luton and Reading.

Interserve Kajima will be responsible for the design and construction of the school buildings as well as the provision of maintenance and lifecycle services over a 25-year period.

The secondary schools included in this batch 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.

Interserve Kajima will now spend the next six months nailing down details with the EFA and the schools to reach financial close. Construction is due to start from November 2014 through to March 2015, with planned completions due in August 2016.

This is the 19th privately-financed, education project in which Interserve has invested.

“We are delighted to have put forward a winning solution that underlines the group's ability to create an integrated, whole-life proposition that will significantly contribute to improved educational outcomes for thousands of students in Hertfordshire, Luton and Reading,” said Interserve Developments managing director Chris Field.

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