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Balfour Beatty and Thomas Vale/Wates JV close £250m Stoke BSF deals

Balfour Beatty and a joint venture of Thomas Vale and Wates have reached financial close on the £250 million Stoke-on-Trent Building Schools for the Future scheme.

It is the final project from Wave One of the £55 billion BSF programme to reach financial close, and work on the first two schools – Haywood Engineering and Trent Vale – can now get underway.

City council leader Councillor Ross Irving said: “This project is challenging in many respects and the level of professionalism shown on both sides to make this happen in such a tight timeframe is commendable.”

Balfour Beatty and Thomas Vale/Wates were awarded the deals in August 2009 – three years and eight months after they were originally advertised.

A procurement notice for the work was published in OJEU in December 2005, but the contract award was held up by years of political wrangling.

The council’s final plans involved 14 secondary schools being rebuilt or refurbished in the city between 2011 and 2014. Five of these will be academies, and three voluntary aided schools.

Both teams are expected to start work on site in autumn 2010.