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Bevan Brittan takes top spot on new £229m hospital PFI in Kent

 



Bevan Brittan has underlined its heavyweight credentials in the projects sector by taking a headline role on a groundbreaking £229m Private Finance Initiative (PFI) to build a new state-of-the-art, 512-bed hospital in Kent.

The firm acted for existing client Maidstone and Tunbridge Wells NHS Trust on the deal, which will see the construction at Pembury of the UK’s
first acute hospital to offer every patient a single room.

Bevan Brittan originally won the appointment to advise the NHS Trust after a competitive tender process back in 2001.


The deal, which closed last week (26 March),
marks one of the UK’s largest-ever health PFI deals to use debt finance after the original bond finance package was abandoned earlier this year in the wake of the impact of the global credit crunch on bond markets.

Construction of the new 65,000 sq ft hospital, which will include a dedicated women and children’s zone and emergency surgery facilities, began today (31st March) and is expected to be completed by 2010.

Bevan Brittan fielded a heavyweight team led by projects partner Sharon Renouf and also including fellow projects partner Chris Jarman and assistant Lucinda Billson.

Commenting on the deal, Sharon said: “This is likely to be the only health PFI deal to be signed in 2008 and our involvement in it is further testament to the strength and depth of Bevan Brittan’s national projects practice.”

She added: “After seven years of hard graft, it is wonderful to see construction of this landmark new healthcare facility finally begin.”

Laurence Bunnett, Project Director at Maidstone and Tunbridge Wells NHS Trust, commented: “The Trust is delighted to have concluded the lengthy procurement process. The project has faced a number of challenges, including a change in EU procurement procedures and NHS capacity reviews. The new hospital will provide a long-awaited replacement facility for the people of Kent and Sussex and, with the innovative single room approach, a new model of care in the NHS.”

Graham Goddard, Estates Development Director, added: “The Bevan Brittan team was instrumental in ensuring the project team met the deadline for financial close, despite last-minute changes to the funding route.”

Denton Wilde Sapte acted for a consortium comprising John Laing, Interserve and the Commonwealth Bank of Australia, which will oversee the project, while US firm K&L Gates is advising principal constructors Laing O’Rourke.

Meanwhile, CMS Cameron McKenna acted for HBOS, which provided the debt package for the scheme.
 

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