Following Carillion's announcement on 2 May 2013 that it had been selected as the preferred bidder for the new Liverpool city centre hospital, the contractor said it had finished financial negotiations on the deal.
Carillion will invest £15.5m of equity in the project, alongside Scottish Widows Investment Partnership, which will invest a similar amount. Carillion said it expects to generate approximately £200m of revenue from its investment over the 30-year life of the concession contract. Carillion will also build the new hospital for the Royal Liverpool & Broadgreen University Hospitals NHS Trust at a capital cost of £335m and deliver non-clinical support services that are expected to be worth approximately £100m over the concession period.
Work on site is due to start early in 2014, with completion scheduled for 2017. The new hospital will be built next to the existing hospital, which will be demolished once services have been transferred. The new hospital will be the largest all single-bed hospital in the country with 646 beds, including a 40-bed Critical Care Unit, 18 operating theatres and one of the largest emergency departments in the North West.
The consortium led by Carillion includes architects NBBJ and HKS, engineer Capita and TPS Consult, and mechanical and electrical contractor Crown House.