The new Hylton Castle Primary school is part of the £150 million North East batch of the Education Funding Agency's (EFA) Priority School Building Programme (PSBP).
The new two-form entry school consists of two-storey building with associated external works.
Demolition and clearance of the old school building site will now take place to create new playing field areas for the school.
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The project was the first of the EFA's privately financed PF2 batches of schools to achieve financial close in March last year
Galliford stated the eleven remaining North East batch of schools are expected to be completed before September 2016.
Investments Managing Director Mark Baxter said: "It's a great achievement for our business that we have been able to deliver another first for the EFA. The strength of the Galliford Try group is our collaborative approach both inside and outside our organisation, which has enabled us to make this project such a success to date.
"We look forward now to completing the remaining schools in the batch, providing both high quality learning environments for local children and a first class facilities management service in the future."
(LM/CD)
