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Client Name: NHS East Lancashire

Client Details: NHS Primary Care Trust

This is one of a number of the East Lancashire LIFT phases where we have advised the PCT.

This particular phase is for a health facility including GP premises, ambulance depot and pharmacy with a build value of over £10 million.

The scheme involved the demolition of a former mill and existing health centre for the provision of a health campus including a birthing centre and ambulance depot as well as community health services.  Planning obligations resulted in a significant contribution to public art and additional benefits to the Rawtenstall community.

Novel features of this phase are that there is no bank involvement to contribute the capital funding, the PCT is contributing the capital costs and also the ownership of the facility reverts to the PCT on the expiry of the Lease Plus Agreement.  This entailed detailed amendments to the standard documentation and altered the transactional dynamics, notably around key performance indicators and lifecycle costs.

We enabled the project to reach financial close within tight pre-agreed timescales by working closely with the PCT, with its financial advisors and through our constructive and effective relationship with the professionals representing LIFTco.

This project, which was completed in November 2008, shows the potential for innovation within the LIFT model of PPP in the primary healthcare sector initially around funding options.  It also supports the view that the LIFTCo model is a flexible one that may work outside the primary healthcare setting.

 

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