Approval has been given by Department of Health and HM Treasury for the construction of the new £237m Alder Hey Children's Hospital in Liverpool.
The Acorn consortium of John Laing, Laing O'Rourke and Interserve, with architect BDP, was formally announced as the preferred bidder for the hospital project on Thursday.
The new hospital will be built in Springfield Park, next door to the current site, which is nearly 100 years old. Once the building is constructed the existing Alder Hey will be demolished and turned into a replacement park.
The majority of the scheme will be funded by cash surpluses generated by Alder Hey and from the NHS trust's charity using long-term savings powers enabled by being a Foundation Trust. Borrowing of around £104m will be funded through private finance initiative.
John Laing and Laing O'Rourke each hold 40% of the total investment equity in the project with Interserve holding 20%. Laing O'Rourke Construction will build the new hospital and Interserve will provide the hard facilities management services. The project is expected to achieve financial close in winter 2012 and the official opening of the new hospital is planned for summer 2015.
The new hospital will have a floor area of 644,000 sq ft and will have 270 beds, including 48 critical care beds. There will be six standard wards with 32 beds. Each ward will have two four bed bays and 24 single rooms on each ward. The majority of children will have their own room with en-suite facilities, improving patient and family privacy. The majority of bedrooms will have park views and patients will have easy access to play areas on and outside their ward. There will also be 16 operating theatres, four for day-case surgery and 12 inpatient theatres. The new development will also include a multi-storey car park with 1,200 spaces, 200 more than the current site.
David Powell, programme director at Alder Hey, said: "Moving next door to Springfield Park will mean the building can blend into its surroundings and become a hospital in the park. The development will also give the local community a new and better park than what they have now. Along with much better facilities for our patients, there will also be better facilities for parents and families including more parents' rooms, plenty of gardens and a 150 seat restaurant facility."
Alder Hey provides 275,000 episodes of care to children and young people every year. Great Ormond Street Hospital in London provides 192,000.