John Laing announced preferred partner for Cambridge Biomedical Campus development
COMMERCE One of England's largest hospital trusts is to team up with an infrastructure investor and a private health provider to develop a £120m private hospital and hotel complex, it has announced.
John Laing has been selected as the Preferred Partner by Cambridge University Hospitals NHS Foundation Trust (CUH) to deliver the Forum development on the Cambridge Biomedical Campus (CBC).
In addition to the private hospital - which will be run Ramsay Health Care UK - and the hotel, the complex will also have a new car park, shops and restaurants. The postgraduate medical education centre will be managed by CUH.
The Forum, which will be designed by global architecture practice NBBJ, will bring together under one roof a post-graduate medical education centre, a 75-bed private hospital, a 200-room hotel and a 550-seat conference centre.
The funding for the £120 million infrastructure project will be arranged entirely by John Laing and no public capital will be used to fund the project. In the first major project of its kind in the National Health Service (NHS), CUH and John Laing will form a Joint Venture to develop the new building.
The final contractual details have still to be completed and will be subject to final approval by both the CUH board of directors and council of governors.
Commercial Close for the Forum is anticipated for summer 2013 with construction work planned to start in spring 2014. It is hoped that the Forum will open in summer 2016.
Source: John Laing
