£16M redevelopment of Townlands Community Hospital reaches financial close
Amber Solutions for Care (“ASC”), a leading healthcare infrastructure asset manager, has reached financial close to start transforming the existing Townlands Community Hospital site into a state-of-the-art health campus.
ASC is sponsoring and arranging a £16m financing agreement with NHS Property Services Ltd. to redevelop the 2.36 hectare site currently owned by NHS Property Services. In partnership with VINCI Construction UK, ASC will upgrade and maintain the hospital site, and design and construct the adjacent 64-bed care home, to be owned and operated by Oxfordshire Country Council and a charitable trust provider.
The third element of the health campus consists of the design and construction of 32 assisted-living and 12 key-worker dwellings on the site’s surplus land.
ASC has delivered a flexible financing structure to create the integrated, sustainable, and cost-efficient health campus in the centre of Henley-on-Thames. The costs related to the delivery of the new hospital have been offset with ASC’s use of land receipts associated with the project. The development will improve the NHS’ long-term care provision for the local community. The hospital will remain operational throughout the two-year construction period, with works scheduled to start in May 2014.
This is the third healthcare project ASC has sponsored recently, following the award of contracts by other health entities to deliver similar PPP projects in Ludlow, Shropshire and Clevedon, Somerset.
Mike Leto, Project Director for Amber Solutions for Care said: “We are delighted to help secure the future for Townlands Community Hospital in providing a higher quality healthcare facility for the residents of Henley-on-Thames. This is an exciting stage in the innovation of Amber’s financing solutions for healthcare infrastructure, maximising the potential of NHS real estate by upgrading existing services or creating additional care facilities. We look forward to delivering the same value-for-money estate solution to other NHS organisations across the UK.”
James Wakeham, South Regional Director at NHS Property Services said: “It is extremely pleasing to deliver this milestone achievement to the people and patients of Henley-on-Thames and to signal that the redevelopment of the site can now get underway. We will continue to work closely with all partners involved to ensure that the hospital is delivered on time, to specification, and is able to deliver first-class healthcare for the local community.”
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Ed Berry/Mitch Barltrop +44 (0)20 3727 1046/1039
Notes to Editors:
About Townlands Community Hospital redevelopment:
The existing Townlands hospital comprises an 18-bed inpatient ward, a minor injury unit and a range of ambulatory care facilities. The redevelopment of the hospital site will introduce an 18 sub-acute inpatient ward, a 12-bed palliative care facility, improved outpatient and ambulatory care, x-ray facilities, and a podiatry, physiotherapy and dentistry department.
About Amber Solutions for Care:
Amber Solutions for Care provides whole life asset management solutions to existing hospital projects and actively develops new healthcare projects through long-term partnerships and partnering frameworks. Amber Solutions for Care forms part of Amber Infrastructure Group (Amber), a leading international infrastructure specialist, providing asset management and investment advisory services in respect of over £5 billion of assets in the UK, Europe, Australia and North America. Amber’s core business focuses on sourcing, developing, advising on, investing in and managing infrastructure assets within the utilities, PPP, transport, renewable energy and regeneration sectors.
Amber provides investment advisory services to FTSE 250 listed infrastructure investment company, International Public Partnerships Limited as well as private investment funds, specialising in urban regeneration and energy efficiency. Amber is headquartered in London with offices in Munich, Sydney, Melbourne and San Francisco and employs approximately 70 people, making it one of the largest international infrastructure specialists.
About VINCI Construction UK:
VINCI is a world leader in concessions and construction. The VINCI name symbolises the best in innovation, creativity and technological mastery, befitting for a Group that harnesses a culture of innovation to deliver technical expertise in tackling the most complex of projects. The combination of financial strength, market-leading positions and a commitment to sustainability give VINCI its competitive edge. VINCI companies in the UK turnover in the region of £1.9 billion per annum and employ circa 9000 employees. This is the second largest geographic operating sector outside France and represents 5.8% of VINCI’s €39 billion turnover. VINCI employs around 193,000 people in 100 countries around the world. VINCI Construction UK is a national construction and facilities company and is the largest British subsidiary of VINCI. VINCI Construction UK has strong relationships with other VINCI companies and subsidiaries and, as a result, can leverage ideas, skills and entrepreneurial flair to deliver top-quality work in all sectors.