Following Lend Lease’s appointment as preferred bidder in June 2010, planning permission was secured in December 2010.
Work is expected to start next month with Southfields complete by the end of 2013 and Burntwood by early 2014.
Lend Lease Group chief executive officer, Steve McCann, said achieving financial close is an important milestone in the strategic partnership established between Lend Lease and Wandsworth Borough Council.
“These projects add to our infrastructure pipeline in the UK and the partnership has the potential to deliver additional infrastructure schemes over its ten year tenure.”
The Southfields project involves refurbishing and extending the existing blocks along with two new teaching blocks.
All of Burntwood’s existing buildings are to be demolished with the exception of the assembly hall, gymnasium and swimming pool to make way for six new buildings at a cost of £40m.
These will include a new performing arts facility and a business skills centre which will be open to the wider community as well as Burntwood pupils. The scheme will increase the school’s capacity by more than 250 students.