South Australian Schools PPP 2 Project

Aldinga & Angle Vale SA

TESA Education, a consortium of Tetris Capital, Sarah Constructions, ISS, DIF and ANZ reached financial close on the South Australian Schools PPP Project in December 2019. The consortium will finance, design, build and maintain two birth to year 12 public schools in the Adelaide suburbs of Aldinga and Angle Vale.

Construction of the schools will be undertaken by Sarah Constructions, with completion scheduled for the start of the 2022 academic year. ISS will maintain the schools under a 28 year operations period, with the Department of Education retaining all core educational functions.

Tetris Capital led the consortium, provided financial advisory services, is an equity co-investor and will provide ongoing asset management for the consortium.

Each school will initially accommodate 1,675 students, including 100 integrated special school students and a 75 place children’s centre, with provision for future expansion to 2,000 students.

LOCATION

Adelaide, South Australia

CLIENT

Government of South Australia

TOTAL VALUE 

$234m

OUR ROLE

Financial Advisor
Equity Co-Investor 
Asset Manager

BUILDER

Sarah Constructions

ARCHITECT

Swanbury Penglase
Perumal Pedavoli Architects

SERVICES CONTRACTOR

ISS

FINANCIAL CLOSE

2019

COMPLETION DATE

2022

CONTRACT TYPE

Design, build, finance, maintain (DBFM)

Melbourne

Level 44, Rialto Building
525 Collins Street 

Melbourne VIC 3000 

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Sydney  

Level 3 
10 Bond Street

Sydney NSW 2000

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