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Tuesday, January 16, 2024

Financial close on 76m PPP Scottish education scheme

A consortium comprising Cyril Sweett Holdings Ltd, Carillion & HBOS has achieved financial close on the 30 year, 76m South Ayrshire PPP Schools Scheme.

Under the contract the consortium will design, construct, finance and operate three new primary schools at Barassie, Alloway and Monkton; two new secondary schools at Belmont and Prestwick and also construct a new annexe to the Kyle Academy. The first school will be delivered by the end of the year, with all schools being completed by the end of 2008.

Ken Gill, Director of Cyril Sweett Holdings Ltd said: "The consortium has, in partnership with South Ayrshire Council, developed original, flexible, robust proposals that will create an educational legacy of which we can all be proud. We are delighted to have reached financial close on this project and are now looking forward to delivering first class facilities for the local communities."

To date Cyril Sweett has provided bid management services, whole life cost advice, building surveying and due diligence services for HBOS. Going forward Cyril Sweett will provide due diligence through the construction and concession period, act as Employer's Agent and undertake operational monitoring.

Councillor Gibson T. Macdonald, Leader of South Ayrshire Council added: "Now that the final agreements have been signed, it is a case of 'full steam ahead' for the building work to begin. I offer my sincere congratulations to all concerned with what has already been achieved. There is no doubt about it, 2007 is going to be an exciting one for South Ayrshire."