The project was to build three brand new schools and community facilities in Slough. The three schools are Penn Wood Primary School on its existing site and Arbour Vale and Beechwood School which are co-located on the current Beechwood site. Beechwood School also provides new leisure and community facilities including a swimming pool and sports halls with Arbor Vale featuring a residential unit for young people with autism.
Capital Value: £45m
Whole Life Value: £158m
Facilities Created:The project consists of 3 new schools accommodating over 1500 students:
|There was a long list of unresolved legacy issues when Pario took over as the SPV management of the project. Through our professional approach we have now reduced them within manageable limits.|
|We have improved the relationships with the Authority/Schools with increased levels of communications between all parties.|
|Several new processes were introduced to manage Small Works and Variations to the satisfaction of all parties.|
|Managed variations through advance planning to ensure that deadlines were met.|
|Attendance at Authority/FM review meetings|
|Commercial dispute resolution|
|Management & Board reporting|
|Financial administration, including raising unitary invoices, processing sub-contractor payments and maintenance of accounting records|
|Loan administration, compliance & reporting|
|Financial model updates|
|Variation costing and financing support|
|Liaison with tax advisors and auditors|
|Insurance procurement and claims processing|
|Financial advice on contractual issues|
|Attendance at client meetings.|
|Negotiations with the client over implementation of the project agreement and impact of variations to output specification;|
|Discussion with the commissioning client regarding robust project implementation;|
|Recovery of the cost of variations in order to maintain project returns and IRR;|
|Management of sub-contractors to deliver in accordance with relevant agreements;|
|Subcontractor negotiations on variations;|
|Negotiations with sub-contractors over variations and commercial disputes;|
|Endeavour to obtain best value insurance premiums, either through negotiation or obtaining competitor broker quotes; and|
|Efficient financial management to minimize projects costs|
|Preparation of documentation: We prepare the agenda, meeting pack and any additional materials to ensure that each Director is fully briefed and therefore can engage in the discussion and reach informed decisions during the meeting.|
|Decisions and deliverables: After each meeting we accurately complete the meeting minutes, detail any action points and their owners and distribute to all parties in a timely manner.|
We maintain the following statutory registers:
|Secretaries||Directors’ interests in the company|
In addition to this we also maintain:
|Statutory books||Complete and file annual returns|
|Complete all other general corporate administrative duties|
We provide advice on corporate governance when required. This includes advising the Board of Directors of the provisions of the Shareholder Agreement and Articles of Association.
We also ensure the directors are alerted when any legal regulation requires the consideration of the board and if any actions are necessary. For example, changes to the Health and Safety laws, Bribery and Anti-Corruption Policy.
We help guide the nominated Director in Health and Safety matters by ensuring it is given the proper regard; all actions are recorded and minuted; that obligations passed through to the subcontractors are appropriately discharged; and where required, give specific and accurate advice.
We also assist in the compilation of a bespoke Health and Safety policy and discharge periodic audits of the subcontractor’s Health and Safety arrangements to ensure the obligations are appropriately discharged.
We ensure that the FM provider plans all lifecycle work adequately such that the project gets value for money. Furthermore, all works are monitored to ensure that it is being undertaken to the highest standard and quality.
We also ensure that there are formal processes in place to accept and sign off any lifecycle works.
We manage all variations to ensure that they are cost effective, fall within the scope of variations as detailed in the Project Agreement (PA) and any future impact to lifecycle is taken into account and increased costs are appropriately applied.