Trillium pulls out of PFI

PFI and property firm Trillium is pulling out of the PFI market in the face of the banking crisis and rising PFI costs.

The move will see the firm withdraw from the £450m Somerset Building Schools for the Future (BSF) deal, which it is shortlisted for, alongside BAM and Sir Robert McAlpine.

However Trillium chairman Ian Ellis insists the firm is still fully committed to bidding for the £1.2bn Birmingham BSF scheme.

It is competing with Catalyst on the scheme and a preferred bidder is to be announced next week.

Trillium, which Land Securities sold this month to rival property developer Telereal, will concentrate on its existing PFI portfolio and its real estate interests.