On 30 September, Community Solutions for Primary Care (CSPC) achieved financial close on the Doncaster NHS LIFT (Local Improvement Finance Trust) project.
CSPC is a joint venture between Morgan Sindall Investments, Apollo Medical Partners and Barclays European Infrastructure Fund. The PPP company (“LIFTCo”), which was formed between CSPC, Doncaster Metropolitan Borough Council, Partnerships for Health and 3 local Primary Care Trusts; signed a 20 year strategic partnering agreement to build and maintain a network of new health and social care premises in the Doncaster Area. The structuring and financing of the LIFT project was conventional using project finance facilities from Barclays. Operis financially advised CSPC during the bid, negotiation and close phases.
Subcontractors to the LIFTCo include Bluestone, the Morgan Sindall construction business. The value of construction works is anticipated to be in the order of £50 million over the first 5 years of the agreement.