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.
Watch the Seven News story here.
Image courtesy of Sam Noonan
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)