We would like to congratulate NHS Grampian on achieving Financial Close (on 5 December 2016) with hub North Scotland Ltd on the project to build new health centres in Inverurie and Foresterhill (Aberdeen) using the hub/DBFM/PPP structure.
The total construction cost of around £22 million will be funded by institutional debt from Aviva, and subordinated debt from Currie & Brown Equitix, Galliford Try Investments, NHS Grampian, the Scottish Government and the Hub Charitable Foundation.
We advised NHS Grampian throughout the procurement up to and including financial close. Our responsibilities included assessing the financial submissions from the private sector partner, confirming levels of private sector returns, margins and fees, payment mechanism calibration, and support of commercial negotiations.
The Foresterhill Health Centre is being built within the site of Aberdeen General Hospital, adjacent to the Anchor Cancer Care Centre. It proximity will allow excellent liaison between Primary care and specialist services.
Inverurie Health Centre is home to the largest single General Practitioner practice in Scotland with around 21,000 registered patients, projected to rise to 30,000 by 2021. The new health centre will be a major improvement on the existing facility. At around 3,500 square metres, it will have space to incorporate community health services such as dental and community maternity provision. There will also be an energy centre as part of the development.