NewSchools is an education project owned jointly by Innisfree and Prudential M&G, comprising the administration of nine PFI school projects across the UK.
NewSchools reached financial close on the Clacton Schools PFI Project in November 2003. A contract variation has recently been agreed upon, including further capital works.
As part of Nationwide’s due diligence process before advancing further debt to fund the additional capital works, Operis conducted a formal model audit on the revised financial model. The variation was agreed upon and funded in early 2008.
