Kajima Partnerships Limited and its joint venture partner Interserve plc have reached financial close on the project to design and build seven secondary schools across Hertfordshire, Luton and Reading. This is one of the first group of schools to be funded using the Government’s new PF2 private finance model.

The scheme, which was procured under the Priority School Building Programme, has a capital value in excess of £135 million. More than 8,900 pupils across the South East region will benefit from this investment, with nearly 900 additional places for 11-18 years old to be created in modern, purpose-built buildings.

Interserve Kajima, which was appointed preferred bidder by the Education Funding Agency (EFA) in March 2014, will be responsible for the design and construction of the new schools as well as all maintenance services over the 25-year contract term.

Julian Rudd-Jones, Managing Director at Kajima Partnerships said:

“We are delighted to have been able to support Interserve plc and the Education Funding Agency in getting this project to a successful close. We are committed to delivering and managing these new facilities to the highest standard. Much of the schools estate is however still in need of modernisation and we hope that what we have learnt on this project can be put to use again.”

The secondary schools included in this tranche are Bishop’s Hatfield Girls’ School, Hatfield; Goffs School, near Cheshunt; Kings Langley School, Kings Langley; Longdean School, Hemel Hempstead; Reading Girls’ School, Reading; Stopsley High School, Luton; and Westfield Academy, Watford.

Construction started on all the schemes last month with the first due for completion in August 2016. All of the new schools will be open by November 2016.