Parkwood wins role in Hamlets

12 April 2012

THE Department of Education has given the go-ahead for a £55m construction and maintenance Private Finance Initiative project for Tower Hamlets' top-performing secondary school.

While privately owned Miller Construction, backed by the Bank of Scotland, is to construct a building for the Mulberry School in the borough, the deal gives quoted PFI specialist Parkwood a £16m contract over 27 years to manage the new building plus the school's leisure facilities, which will also be open to the public.

Parkwood, which has carved itself a niche managing local council leisure facilities and parks, said that the deal strengthened its forward orders book while current trading remains in line with brokers' expectations.

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