Phase 1b of the Birmingham Building Schools for Future Programme reached financial close on 16 August 2011.
The current phase involves the complete redevelopment and ongoing maintenance for the Waverley School. Construction is expected to be completed by April 2013, with the project concession running until April 2038.
The project involves around £32 million of debt provided by Aviva, with Lendlease the only private sector investor.
Operis has previously worked on the Phase 1 of Birmingham BSF. On this occasion Operis provided financial model auditing services and a tax and accounting review on behalf of the lender and the project sponsor.
