Balfour secures £140m BSF scheme in north London

Balfour Beatty has beaten off two rivals to register victory on a £140m Building Schools for the Future (BSF) deal in north London.

Transform Schools, the contractor's education PPP concession arm, has emerged as preferred bidder for Islington council's eight-school project.

The news means expulsion for @One (Equion/John Laing) and Investors in the Community (Carillion/Mill Group).

The deal is expected to reach financial close around the end of this year and will be delivered in three phases.

Work on site will kick off in 2008, with delivery due within five years.

Transform Schools will enter into a local Education Partnership in joint venture with Islington and will be responsible for FM services.

Building work will be carried out by Balfour Beatty Construction and Balfour Kilpatrick.

The scheme includes rebuilding and revamping eight of the council's secondary schools, constructing two new pupil referral units and relocating one special-needs school.

Three schools will be delivered in the first phase of the project, estimated to be worth around £66m - Highbury Grove, Holloway and St Aloysius.

Each phase of the scheme will include one privately financed school, one design and build facility, and a voluntary aided school.