Article date: 20 January 2014
Aviva Commercial Finance has provided a 25 year, £50 million loan to Inspired Spaces Wolverhampton to build and maintain two new secondary schools for the city, Deansfield Community School and Health Park School.
The schools are some of the last to be built under the £270 million Building Schools for the Future investment programme (BSF), which has been replaced by the Priority Schools Building Programme.
As leading lenders in the private finance initiative (PFI) market, Aviva Commercial Finance will continue to lend on educational projects in addition to a variety of other infrastructure schemes across the UK including medical centres, hospitals, student accommodation, fire and police stations.
Toni Miller, head of new business at Aviva Commercial Finance, said: “We’re delighted that we’ve been able to finance this BSF project, working together with Inspired Spaces to provide two new schools. This deal represents a good long term investment for Aviva and for our annuity customers, and it will benefit the local community in Wolverhampton greatly.
“Aviva will actively be looking to help finance the next generation of schools through the new Priority Schools Building Programme.”
Carillon Services is the facilities management provider on the properties.
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