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Media Releases
2007

03 April
2007

Winning team completes PPP hat-trick

Leading UK law firm Shepherd and Wedderburn has concluded its third Schools PPP in as many months. The most recent deal, to deliver schools for City of Edinburgh Council, is the largest, with a capital value of £180 million.

The project involves the design, build, finance and operation of eight new schools in the capital over a 30 year period.

This further highlights the firm’s strength in the PFI/PPP sector - particularly in the education field - which has seen Shepherd and Wedderburn advise on key public sector projects with a total capital value of £344 million.

In February the team concluded the Dundee City Council Schools PPP Project, with a capital value of almost £90 million, for eight new schools in the City over a 30 year term.  In January, the £74 million Scottish Borders Council Education project was completed, to deliver three new schools in the Borders area over a 30 year period.

Shepherd and Wedderburn’s team, led by Projects partner Rhona Harper, delivered legal and strategic advice for all of these projects, including deal structure, planning issues and project management.

Rhona Harper said:" We are delighted to have helped our clients to a successful close in challenging timescales.  We continue to be the advisors of choice and maintain a strong reputation in the PPP education field, as we are consistently completing significant deals.  A great deal of work needs to be undertaken to negotiate the detailed and highly specialist public/private sector contracts which these projects demand, and our strong experience ensures that we are well placed to deliver.”

Schools PPP deals completed in 2006:

  • Acting on behalf of the Sir Robert McAlpine sponsored consortium to complete the Gateshead Schools PFI scheme which has a capital value of £55 million
  • Acting for Amec Group Limited in its capacity as design and build contractor and facilities management contractor in South Lanarkshire Council's £352.2 million schools PFI project
  • Advising North Lanarkshire Council in the extension of its £160 million capital project to include an additional school at Wishaw with a capital value of £6.9 million.  This change demonstrates the ability of a bond financed scheme to retain sufficient flexibility to accommodate capital works post financial close
  • Advising Argyll & Bute Council in the extension of its NPDO schools project to include a further secondary school in Helensburgh which will be re-provided on a greenfield site in the town.  This involved the NPDO vehicle raising an additional £29 million of capital from the existing funders of the project, the Royal Bank of Scotland and the European Investment Bank
  • Advising North Ayrshire Council in connection with its £100 million capital project for the development of new school premises in the area
  • Advising Midlothian Council in its second schools PFI project with a capital value of £60 million


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