Carillion, an integrated support services company with a large portfolio of Public Private Partnership projects and extensive construction capabilities, revealed on Monday that as the preferred bidder for the GBP335m new Royal Liverpool University Hospital, it has achieved financial close on the project.
According to the company, it will invest around GBP15.5m of equity in the project and a similar amount will be invested by Scottish Widows Investment Partnership. Carillion said its investment is expected to result in approximately GBP200m of revenue over the 30-year life of the concession contract.
The new hospital for the Royal Liverpool and Broadgreen University Hospitals NHS Trust will also be built by Carillion at a capital cost of around GBP335m. Work will commence on the new hospital early in 2014 and it will be built next to the existing hospital, which will be demolished once services have been transferred. The project is scheduled to be completed in 2017.
Non-clinical support services will be provided by the new hospital and these services are expected to be worth approximately GBP100m over the concession period. This new Royal Liverpool University Hospital will also be the largest all single-bed hospital in the UK. It will have 646 beds, including a 40-bed Critical Care Unit and 18 operating theatres, along with one of the largest emergency departments in the North West. An underground car park for patients and visitors will also be provided, while access to the hospital will be improved with a bus service to the site.
In addition the hospital will reportedly be one of the ‘greenest’ sites in the UK, with a dedicated cycle centre and ten electric car charging points, along with renewable energy systems, low carbon technology, water meters and leak detection systems.
The local economy will benefit from the construction of the new hospital, which is expected to contribute approximately GBP240m to the local economy, with a commitment to source at least 60% of materials locally. There will be around 750 full-time jobs created during the construction period and 60% of these vacancies are expected to be filled by local people. The company said that 15% of the workforce will come from priority Council Wards in the City and 100 apprenticeships will also be created.
Carillion added that a world class Liverpool BioCampus will be sited where the current hospital stands. This is expected to play a key part in transforming the area and regenerating the Knowledge Quarter of the City.