Trillium to manage part of EUR 747m schools programme

Land Securities Trillium has been appointed to manage the rebuilding and refurbishment of 10 schools as part of a £600 mln (EUR 747 mln) programme in South East England.

Trillium is the outsourcing arm of Land Securities, the largest UK real estate investment trust (REIT). The company plans to spin off Trillium as part of the wider reorganisation of Land Securities into separate listed entities covering retail and London offices. However, the credit crunch has delayed the break-up.

The company will lead a consortium of partners that will completely rebuild or refurbish the first 10 schools. Trillium said that Kent's extensive BSF programme is a 'major milestone' for the county's drive to combine state-of-the-art buildings and ICT facilities, with a bold educational vision 'putting schools at the heart of their community'.

Approximately £200 mln will be invested in transforming and maintaining the first 10 schools. Three schools will be delivered through PFI (private finance initiative), with Trillium contributing £6 mln of capital by the end of the PFI construction phase.