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Cumbernauld Academy and Cumbernauld Theatre hub Project

hub South West Scotland Limited

Date
June 2017

Sector
Infrastructure

Transaction
Cumbernauld Academy and Cumbernauld Theatre hub Project

Value
£37m

Role
Financial Advice to North Lanarkshire Council

QMPF provided financial advice in support of reaching financial close on the hub South West Scotland Limited Cumbernauld Academy and Theatre project.

Our engagement, for the provision of advice to North Lanarkshire Council as both project Participant and customer, supported the agreement of a £37m design, build, finance and maintain contract using the hub structure. The QMPF team advice assisted the Council in understanding the financial model developed for the transaction, finalising discussions with the hubco, the funder (NordLB), Scottish Futures Trust and relevant advisers, and ensuring that the financial model appropriately reflected the agreed costs, financial inputs, indexation of the annual unitary charge and payment phasing.

The project will build on the Council’s track record of delivering their schools estate investment programme by providing both a new school building offering high-quality learning facilities that promote the educational environment of all learners, as well as a new Arts Centre. The Arts Centre will include a theatre, cinema and bistro with superb facilities for drama, dance, music and film which will enable Cumbernauld Theatre to present a wider range of performances, bringing great experiences for audiences and world-class facilities for classes, workshops and community participation.

For further information contact

Moray Watt

Partner

+44 (0)131 222 2623

Graeme Tough

Director

0131 222 2607

QMPF LLP, Excel House, 30 Semple Street, Edinburgh EH3 8BL
+44 (0)131 222 2600
info@qmpf.co.uk

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