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News archive - July/August 2011
New funding model behind Wirral Centre
ON TRACK for completion in 2013, St Catherine’s Health Centre in Wirral will deliver a broad range of services from an11,100 sqm, four-storey modern healthcare building.
The Procure 21 project, which replaces a range of former workhouse and sanatorium buildings from the 1800s, received the Partnerships Bulletin award for Best Healthcare Project in May, due to its thoughtful design and pioneering funding model. The team behind the development includes NHS Wirral, architects and funding partner Prime plc, along with contractor Integrated Health Projects - a joint venture between Vinci Construction UK and Sir Robert McAlpine.
The new finance model allows for NHS capital to be combined with private finance development funds on a shared ownership basis. The new Shared Investment Agreement enabled NHS Wirral to contribute 55% of the cost of the development, with the remaining 45% provided by Prime plc. Using this new form of property contract, which protects the assets of both parties, Prime secured funding from Aviva.
Designed by Prime’s design company, One Creative Environments, the building achieves BREEAM ‘excellent’ rating. St Catherine’s Church is central to the new development in recognition of its historical links with the original building, reflecting the desire to create a more community-centred environment through the new design.
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