- Caledonian Economics were financial advisers to West Dunbartonshire Council on their “Building our Future” schools Public Private Partnership, which was formally signed with BAM PPP on 21 January 2008. The Project will deliver approximately £100 million of investment in the schools’ estate, providing three new schools. Construction started early in 2008 with the first schools expected to be completed in summer 2010.
The project encompasses:
Clydebank Non-denominational CLC, a secondary school built for 1,500 pupils located on the existing Clydebank High School site. It will incorporate sporting and social facilities, and will be available for community use out of school hours.
Clydebank Denominational CLC, a secondary school built for 1,500 pupils located on the existing St Columba’s Secondary site, together with a co-located but physically separate St Eunan’s Primary and Early Education and Childcare Centre. The CLC will also incorporate sporting and social facilities, and be available for community use out of school hours
Vale of Leven Academy non denominational CLC, a secondary school built for 1,100 pupils located on the existing Vale of Leven Academy site. The existing Language and Communication Base facility in the current Vale of Leven Academy will be relocated to custom built facilities within the new CLC. Among the sporting and social facilities, capable of out of school hours community use, will be synthetic, floodlit, all-weather football and hockey pitches, a fitness suite and flexible social space incorporating theatre provision.
- Caledonian Economics were financial advisers to Dumfries & Galloway Council on their “Smarter Schools” Public Private Partnership, which was formally signed with e4d&g on 8 January 2008. The Project will deliver over £100 million of investment in the region’s schools’ estate, providing nine new schools and one refurbishment and extension project. Construction is due to start early in 2008 with the first new school expected to be completed in 2009.
E4d&g is led by Amey, one of the leading integrated support service providers in the UK, and includes Cyril Sweett, an international construction and property consultancy. The project funding is being provided by HSBC Bank PLC and the European Investment Bank.
The schools will all be new build, with the exception of Stranraer Academy which will be extended and refurbished. The new schools are Wallace Hall Primary and Secondary in Thornhill; Castle Douglas Primary; Kirkcudbright Primary; Moffat All-Through School; Lockerbie Primary and Secondary; and two new Primaries in Dumfries: Heathhall and the replacement of St Andrew’s RC.
- Caledonian Economics were financial advisers to Aberdeen City Council on their first education Public Private Partnership. The project was signed on 21 December 2007 between the Council and NYOP Education (Aberdeen) Ltd. for the design, construction, financing and operation of the ten schools and other facilities comprising the 3Rs Project.
Work is already underway on the construction of the new Cults Academy and Bucksburn Community Campus - and work will begin early in 2008 on the development of new schools at Airyhall, Heathryburn and Mile End.
- We are pleased to announce that, on Monday 5th November, we moved into our new offices at
1 St Colme Street Edinburgh. These offices are centrally located at the West end of Queen Street within easy walking distance of Waverley Station and with on-street parking close by.
- Our Technical Briefing entitled Issues in Operational Projects was held on October 4th, 2007 in the Teacher Building in Glasgow. Over forty delegates attended, hearing our speakers discuss approaches being taken to address a wide range of issues that have emerged on operations partnership projects. Delegates’ comments included “ruthless clarity”, “good speakers - informative presentations”, “Short, sharp, kept attention”.
- On 31 July 2007, a deal was signed under which the entire shareholding was purchased by a group led by Martin Finnigan and Vivienne Cockburn. This exciting move represents a major step forward in the firm's development under which Martin and Vivienne will continue the firms focus on client service in our core sectors, building on the solid platform established to date.
We are looking forward to continuing our strategy of managed growth built on providing a highly personalised service to our clients and close working relationships with advisers in other disciplines. Our focus will continue to be the provision of services in the relation to business planning, value for money assessment, and procurement across the public sector.
- Caledonian Economics were financial advisers to Angus Council on their first education Public Private Partnership. The project was signed in November 2006 between the Council and a consortium of Robertons and Quayle Munro.
The project will see new schools in Carnoustie completed at Thomas Street and Woodlands by winter 2007 with Carlogie being rebuilt by autumn 2008. The new teaching facility at Carnoustie High School will also be available towards the end of 2008.
In Forfar the project will see new schools completed at Kirkriggs and Whitehills in winter 2007 with Langlands being available by early 2009.
- Caledonian Economics were financial advisers to The Highland Council on the second Highland Education Public Private Partnership. The project was signed on 30 March 2006 between the Council and Alpha Schools (Highland) Ltd, a consortium of Morrison plc and Noble Fund Managers.
The initiative encompasses new secondary schools to replace Dingwall Academy, Kinlochleven High School, Millburn Academy (Inverness) and Portree High School, which will include a swimming pool, community library and learning centre. Also in the programme is the replacement of a school for pupils with additional support needs in Inverness; the new primary school at Inshes (Inverness), and a Gaelic Medium school in Inverness; and primary schools at Kinlochleven, Resolis, Culbokie and Cawdor.
The project is being funded through a package of bond finance and wrapped bank debt provided by the European Investment Bank. It is only the second schools PFI in the UK to utilise bond finance. The use of bond finance and the involvement of the EIB have been central to reducing the overall costs of the project.
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