The Northamptonshire Mental Health PFI project reached financial close on 31 October 2007.
The Investors in the Community (IIC) consortium, a joint venture between Mill Group, Balfour Beatty and Kier Managed Services, was awarded the £35 million contract to design, build and operate a range of mental healthcare facilities for the Northamptonshire Healthcare NHS Trust.
The proposed development will see two existing buildings demolished and replaced with a new 135-bed mental health facility and the associated infrastructure, including site roads and car parking. Construction will be staggered in two phases with phase one expected to be completed by December 2008 and phase two in May 2010.
Dexia are providing the £39 million senior debt over a term of 29 years.
Operis was appointed to review the financial model on behalf of Dexia and the Consortium.
