The Teesside office of international project and cost consultants, Faithful+Gould is celebrating the start on site of building work on a £220 million cancer centre which has been funded using ground breaking funding arrangements.
The Oncology Wing at St James University Hospital is the first project in the UK which has been funded utilising HM Treasury’s Credit Guarantee Facility in which the Department of Health (DoH), has provided the senior debt for the project. Different from past methods of funding, the Government has put up the money rather than banks financing the schemes, although banks do provide a facility guaranteeing repayment of the debt to the DoH.
With a build time of three years, once completed, the new oncology wing will provide specialist services to the 2.6 million catchment area, making the Leeds Teaching Hospital NHS Trust one of the largest trusts in the UK.
David Nicholson, regional director, commented on the scheme: "The manner in which this project has been funded is being heralded as the way forward for larger Private Finance Initiative schemes and we were delighted to provide our expertise on the first project of its kind in the UK."
The finalised wing will comprise 12 linear accelerator bunkers, four surgical operating theatres, ICU / HDU facilities, new wards, new haematology and histopathology laboratories, as well as provision for outpatients.
Faithful+Gould has been appointed the bank’s technical advisor. The appointment incorporates an operational monitoring role of the finished Wing which will be carried out over the 30 year operating period.
The Oncology Wing will pursue advances to aid the development and delivery of new cancer treatments as well as improving the overall quality of patient care in the Yorkshire area. It will also house a research environment for undergraduate and postgraduate education in the field of oncology.
Graham Johnson, general manager of Catalyst Healthcare Management (Leeds), said: "The Oncology Wing is the largest regional cancer centre in the UK, it has provided exciting challenges both architecturally and technically and we are looking forward to the opening of the centre in early 2008."