This phase of the Newcastle and North Tyneside (NNT) NHS LIFT Project reached financial close today.

The first phase has seen work already underway in Dudley, Shiremoor and Gosforth. This second phase involves the further development of a local authority building in Benwell.

LIFT stands for Local Improvement Finance Trust and is part of the Government scheme to increase both the number and the quality of modern buildings available in local communities for the delivery of health and social care services.

The NNT LIFT Company is a joint venture between Robertson Capital Projects, Partnership for Health and local public sector partners, the Newcastle and North Tyneside Primary Care Trusts and the Newcastle City and North Tyneside Councils.

Barclays Bank is providing a senior debt of £3.5 million.

Operis provided financial model due diligence services on behalf of Barclays Bank.

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