Client Agency:
NSW Department of Education and Communities (DEC) (Formerly NSW Department of Education and Training DET)
Project Description:
The project involved:
- design, construction and financing of nine new public schools in Sydney, Wollongong, Shell Harbour and on the Central Coast;
- provision of cleaning, maintenance, repair, security, safety and related services for these schools' buildings, furniture, fittings, equipment and grounds in return for performance-based monthly payments by the DEC during the operation phase of the project.
Private Sector Partners:
Axiom Education consortium comprising of Royal Bank of Scotland-Asset Manager, Industry Funds Management (IFM) Infrastructure Funds- Equity Investor, St Hilliers Pty Limited and Hansen Yuncken Pty Limited - Construction Contractors and Spotless Group Limited - Facilities Management Operator.
Project Details:
Contract value: $131.4 million (Estimated net present value at the time of the contract award)
Contract term: Mar-2003 to Dec-2032
Operation began: 5 schools opened 2004 and 4 schools opened 2005
Related Documents:
Contract Summary
Auditor General's Performance Audit
New Schools Privately Financed Project Post Implementation Review
