Financial Close reached on Scottish school project

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Financial Close reached on Scottish school project

Scottish Borders Council and  Hub South East Scotland, the partnership which will develop the Kelso High School project with Morrison Construction, have reached financial close for an amount of £21.4 million (US$30 million).

Therefore, construction works on the new secondary school in Kelso is finally start in the next few weeks, after a considerable delay, according to the local authority.

It was one of a number of projects put on hold following a European ruling over funding that consider projects using the Scottish NPD model to be treated as a public investment. The issue was eventually resolved in November 2015.

NordLB has financed the project.

The school project will be build by Morrison Construction, a subsidiary of London-based Galliford Try Group, and it is expected to be opened in Autumn 2017.

Galliford Try's Facilities Management business will also provide operation and maintenance over the 25-year lifecycle.

The school at Nethershot on Angraflat Road will include new grass and synthetic sports fields as well as community facilities.

Councillor Sandy Aitchison said:

"The reaching of financial close is the final hurdle for this long-awaited school project. The existing school building has served generations of pupils in Kelso and the surrounding area well, but the need for a state-of-the-art facility for the community is apparent. I look forward to seeing the first sod cut to mark the official start of construction of the new Kelso High School."

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