Lenders emerge for Welsh healthcare PPP in Cardiff

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Velindre Cancer Centre has confirmed to have 6 lenders for the Welsh healthcare Public-Private Partnership (PPP) project in Cardiff, Wales.

The backers for Velindre Cancer Centre circa GBP300 million (US$371.9 million) PPP are Aviva Investors, Caixa Bank, Mizuho, NordLB, Siemens and SMTB. The split will be around 70% debt and 30% equity. Acorn was announced to be the preferred bidder in July 2022, the consortium is made up of Sacyr, Kajima, abrdn and Sacyr Building in a JV with Andrew Scott

The project involves the design, build, financing and maintainence (DBFM) of Velindre Cancer Centre and intends to replace the existing 60 years old facilities. The procuring body Velindre University NHS Trust is to provide soft facility management services and whilst Acorn will provide hard facility management services. The project is being procured under the Welsh mutual investment model (MIM) process, in which the government retains an equity share of up to 15%. The financial close is expected by April 2023.


Share this update