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Costain Secures Financial Close On Lewisham BSF Contract

18 August 2010

Costain has been appointed by Lewisham Council to rebuild Deptford Green School after financial close was reached on the £28.6 million Building Schools for the Future ('BSF') project. The school is to be delivered under the Private Finance Initiative by Learning21, a consortium that includes Costain, Babcock International and Building Schools for the Future Investments LLP. Funding is to be provided by Aviva Commercial Finance Limited.

Thirteen hundred pupils, teachers and staff will move into their new school in September 2012, and local residents and community organisations will be able to access the brand new sports and conference facilities outside normal school hours. This means that the new building, like other schools in the borough, will become a key resource for the local community.

This latest contract is an integral part of Lewisham Council's Building Schools for the Future (BSF) programme, which has already delivered two new schools, has another school under construction and a number of new and refurbished schools progressing towards financial close.

Commenting on the award, Andrew Wyllie, the Chief Executive of Costain, said:

"We are delighted to be involved in this BSF contract and our continued involvement with Lewisham Council which, through our Local Education Partnership, aims to further improve education provision in the Lewisham area."