Financial Close achieved for Birmingham dental hospital PFI
Contracts have been signed on the first integrated, stand-alone dental hospital and dental school to be built in the UK for almost 40 years and work will start on site in the next days.
Project investors raised £50 million in debt from Aviva for the project and achieved financial close. Equity will be provided by Prime, HICL Infrastructure Company and Community Health Partnerships
The contract length will be 25 years.
Lead contractor Galliford Try is expected to start on site early September 2013 and it is anticipated the building will open to staff, students and the public in time for the beginning of the 2015 autumn term.
Led by Birmingham Community Healthcare NHS Trust, the Edgbaston centre will offer services for the public, as well as house a campus for the University Of Birmingham's School of Dentistry.
The development of the 1.23-hectare (3.05-acre) site will see a new four-storey dental hospital and school of dentistry constructed, with a build cost of £34m. Totalling 15,465 sqm, it will house a range of services for the public including walk-in emergency dental care, Restorative, Oral Surgery, Oral Medicine, Orthodontics and Paediatric Dentistry.
Dr Sarah Raper, Community Health Partnerships Executive Director said:
Source: Bas LIFT"The new Birmingham Dental Hospital is one of the largest and most exciting LIFT projects in the country. When it opens, I am certain that the project will be valued by both patients and the health care professionals who will work and study there."
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