Re Contract

RNS Number : 0963H

Galliford Try PLC

11 March 2015

 



GALLIFORD TRY REACHES CLOSE ON £186 MILLION IN EDUCATION CONTRACTS

Galliford Try plc, the housebuilding and construction group, announces it has reached financial close with the Education Funding Agency (EFA) over the Priority School Building Programme (PSBP) batch for North East England and with Flintshire Council for the Holywell Learning Campus in North Wales.

The £160 million PSBP contract represents a considerable milestone for Galliford Try and the EFA, becoming the first batch funded by the Government's new Private Finance - model 2 (PF2) aggregator model to reach financial close in the country.

The construction contract is worth over £103 million, with a further £56.6 million coming through a 25-year maintenance and lifecycle contract for Galliford Try's Facilities Management business. The programme will provide new, purpose-built facilities which will benefit more than 8,350 pupils across the region, as well as providing 188 nursery places.  A total of six new secondary schools will be constructed along with six primary schools.  In line with our PPP strategy Galliford Try Investments will retain an equity stake in the project. 

The project is part of the wider PSBP, a centrally managed programme set up to address the needs of the schools most in need of urgent repair. Through the programme, 260 schools will be rebuilt or have their condition needs met by the Education Funding Agency (EFA).

In addition, Galliford Try's Building business has signed contracts with Flintshire Council to build the Holywell Learning Campus in North Wales, as part of the Welsh Government's 21st Century Schools programme.

The £26 million project was procured through the North Wales Schools and Public Buildings Contractor Framework and creates new primary and secondary schools, with the single storey primary school offering 315 pupil places, replacing the current local infants and junior schools.  The three storey secondary school will offer 600 places and replace the existing High School on the site. 

Galliford Try Executive Chairman Greg Fitzgerald commented: "It is tremendous news for our business to have reached financial close on these two significant education contracts. Our ability to conclude the contract with the EFA successfully demonstrates the strength of our Investments business in offering innovative solutions to unlock projects, while the Holywell contract is proof of our excellent construction offering in education and our growing prominence in the North Wales market."

For further enquiries:

Galliford Try -                   Greg Fitzgerald, Executive Chairman                   01895 855001

                                       Graham Prothero, Finance Director

Notes to Editors

Galliford Try plc is a leading UK housebuilding and construction group. It is listed on the London Stock Exchange and a member of the FTSE 250. The housebuilding business - through its Linden Homes brand - sells distinctive homes to the public and affordable homes to housing associations and local authority providers.  The construction business carries out building and infrastructure work across the UK with clients ranging from major Government departments through to regulated utilities and private sector companies. At the end of the last financial year to 30 June 2014, the Group generated revenues of £1.8 billion.

 

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