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Carillion closes on £208m deal for schools in Nottingham
19 June, 2008Construction company Carillion has announced it has closed a deal with Nottingham City Council which will give the company the rights to construction and maintenance work on eight secondary schools.
Construction company Carillion has announced it has closed a deal with Nottingham City Council which will give the company the rights to construction and maintenance work on eight secondary schools.
The contract, which will include around £180 million of construction work and £28 million of management, will last for 25 years.
The company said it will be providing eight secondary schools through either new builds or refurbishments.
John McDonough, chief executive of Carillion, said: "We are delighted to have achieved financial close on our second project under the BSF [Building Schools for the Future] programme, which we expect to be a strong growth area for the group.
"We have built an excellent partnership with Nottingham city council and now look forward to helping them deliver their education vision of sustainable and state-of-the-art community-focused schools."
Construction will begin this month, it has been reported, and will finish in 2010.
Banks will be asking potential buyers of new and newly renovated properties what incentives they were offered by the housebuilders, in an attempt to understand more and more about their mortgage customers, it has been reported.
The housing correction has until now been seen as a disaster for all concerned but, with banks refusing to ease up their lending criteria owners are now finding ways to earn from the lack of buyers.
Total mortgage lending for 2008 will fall by 19.3 per cent year-on-year, it has been predicted by Datamonitor.
Homeowners in no rush to sell their homes are turning their properties over to the rental market to avoid selling at a low price during the housing correction, it has been found.
Recent research has found that the housing market is beginning to stabilise, it has been reported, as many factors connected to the buying process are now showing less symptoms of decline.