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Carillion, in a 50-50 joint venture with Bank of Scotland Corporate (part of the Lloyds Banking Group), will finance the new landmark 800-bed acute hospital, for which it will also provide design, construction, maintenance and facilities management services. The new hospital forms a key part of the Bristol Health Service Plan, which will modernise health services and hospital facilities in Bristol, North Somerset and South Gloucestershrie.
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Carillion expects to invest up to £40 million of equity in the project and will also carry out the construction work, to a value of £430 million, and provide facilities management and maintenance services for the hospital over the 30-year concession period. The project is expected to have a total value of £1.6 billion over the concession period.
The new hospital, which also includes an integrated 28-bed community hospital, will concentrate acute services currently provided at Southmead and Frenchay hospitals on to a single site at Southmead. Carillion will also demolish the existing Southmead Hospital, while retaining some buildings of historic interest, which will be used as office accommodation, and construct two new multi-storey car parks.
Work is due to start in Summer 2009 with the hospital scheduled to open in 2013.
(CD/JM)
