Balfour Beatty achieves financial close for the £46 million NHS Ayrshire & Arran Community Development project
23 June 2014
Balfour Beatty, the international infrastructure group, announces today that it has reached financial close for the £46 million NHS Ayrshire & Arran Acute Mental Health and Community Development project.
Located on a 6.5 hectare site at Ayrshire Central Hospital in Irvine, the new integrated mental health and community development will bring together a comprehensive range of outpatient and in-patient facilities. The development includes 206 single en-suite bedrooms, in a primarily single storey building, covering a total floor area of circa 16,000m2. When complete the project will achieve a BREEAM Very Good rating.
The project is being funded using the Scottish Government’s Non-Profit Distributing (NPD) Model. The NHS Ayrshire & Arran Acute Mental Health and Community development project has been the fastest NPD project of the current tranche of NPD projects to achieve financial close.
Balfour Beatty will finance, design and construct the project and operate the concession for 25 years. Construction work will commence in July 2014, with the new facility expected to be operational in summer 2016.
Derek Lindsay, NHS Ayrshire & Arran’s Director for Finance and Senior Responsible Officer for the project, said: “Having the right facilities in the right place is important to the people of Ayrshire and Arran so I am delighted work will start next month. During the process of reaching financial close we have worked closely with Balfour Beatty and we are confident that together we will deliver the best facility possible.”
Balfour Beatty Investments’ Scotland Director, Stephen Gordon said: “We are delighted to bring this project to financial close, enabling construction to get underway. Balfour Beatty has extensive experience in the PPP health sector and we look forward to working with NHS Ayrshire & Arran to provide a high-quality healthcare facility for the local community.”
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Notes to editors:
1. Balfour Beatty has a strong Scottish heritage. The company was founded in 1909 by George Balfour, a Scots mechanical engineer, and Andrew Beatty, an English chartered accountant. The company's first contract was for a new tramway system in Dunfermline in Fife. Today Balfour Beatty continues to have a significant presence in Scotland where it currently delivers an average of 100+ projects per year.
2. Balfour Beatty (www.balfourbeatty.com) is an international infrastructure group that delivers world class services essential to the development, creation and care of infrastructure assets; from finance and development, through design and project management to construction and maintenance.
Our businesses draw on more than 100 years of experience to deliver the highest levels of quality, safety and technical expertise to our clients principally in the UK and the USA, with developing businesses in Australia, Canada, the Middle East, South Africa and South East Asia.
With proven expertise in delivering infrastructure critical to support communities and society today and in the future, our key market sectors focus on infrastructure - transportation (roads, rail and aviation), power and energy, water and complex buildings (both commercial and social).
Balfour Beatty employs 40,000 people around the world.