13th October 2021, 19:24
Works on the new Governor's Meadow and Bishop Fitzgerald Schools at Europort Avenue will begin immediately. This follows a deal with the TNG Global Foundation, who have purchased the site of the current schools at Bayside Road from Government for its own development for just over £21 million.
The former Bayside School and St Anne's Sites in the North District are currently, and temporarily home to Bishop Fitzgerald and Governor's Meadow schools. These schools will, however, move to purpose built new facilities in Europort Avenue.
The Bayside and St Anne's Sites were opened out for expressions of interest, and the winning bidder was the TNG Global Foundation, recently established in Gibraltar by Tuan Tran, the ultimate beneficial owner of Trusted Novus Bank.
The site has been purchased for twenty one million, two hundred thousand pounds. This, says the Government was the highest bid by far.
Development of the site will be subject to approval by the Development and Planning Commission. They won't be able to take over the site until the schools have moved to their new home which TNG will be responsible for building.
The construction of the new schools will cost just under £30 million, with the Government paying for the difference. TNG has already engaged Casais for the works and construction will start immediately, in a way which does not cause disruption to the nearby St Martin's School.
The specs for the new schools are identical to St Anne's and Notre Dame. Any money saved by TNG in the construction of the schools will be disclosed by the Foundation on a good faith, open book basis.
The Government says it's worked hard to ensure that it finds the best deal for the taxpayer. It says the Bayside and St Anne's site has specific planning limitations because of its proximity to the airport, and says it must be developed sensitively to ensure that it compliments the whole area, with a mix of residential, leisure, commercial and hotel opportunities.