King Sturge drops school bid

King Sturge, which heads up consortia bidding for PFI schemes, has pulled out of a £23m schools deal in the Midlands.
The company has turned its back on Coventry City Council's project to build Caludon Castle School in Wyken.
A King Sturge source said: "We were worried that the scheme was not deliverable in its present form. There was a lack of response from the council and we decided to go no further."
King Sturge's partner in the scheme was collapsed contractor Ballast. But the source said the decision to withdraw was taken before Ballast's troubles started.
A council source said: "We're not bothered that one group has pulled out. We're still left with three very good bids."
The remaining bidders are Vinci, Wates and a jv between Galliford and Bilfinger Berger.
It is understood the council will miss out the best and final offer stage and go straight to appointing its preferred bidder early next year.
A start on site is expected by the middle of 2004. The build period will be two years, followed by a 30-year operation and maintenance concession.