Eddisons, the property advisory and transactional services division of Begbies Traynor, has announced a 50% increase in the funding secured for clients from the Department of Education’s Condition Improvement Fund (“CIF”).
Under the CIF, applicants in the education sector can bid for capital funding on an annual basis.
The funding may be used to improve their buildings, and keep their facilities “safe, secure and in good condition”. It can also be used for expansion projects.
Begbies Traynor said that whilst the decision on the funding was delayed due to the ongoing pandemic, it was “delighted” to have increased the secured funding to £28m, up by 50% against the year prior.
The firm confirmed that the related projects will begin shortly, with project management and consultancy fees for the group recorded at £2.2m, against £1.3m last year.
Anthony Spencer, managing partner of Eddisons, said: “Our success in accessing funding for our clients through this CIF funding round is great news for pupils and teachers who will benefit from improvements in their local schools and reinforces our reputation as one of the leading advisors in the education sector.
“This leaves us well placed to assist schools and colleges to plan and manage their capital investment programmes following the recent announcement from the prime minister regarding commitments to government funding for school enhancements.”