Carillion reaches financial close on £700m PPP hospital in Oxford

The Carillion/Royal Bank of Scotland consortium has reached financial close on the new John Radcliffe Hospital in Oxford.

The project has a capital value of £135m, while the on-going maintenance and facilities management services are estimated to be worth around £560m over the life of the 33-year concession.

The PPP deal will completely reconfigure the existing hospital services in Oxfordshire. The new facilities will include 288 beds and will be built alongside the existing John Radcliffe Hospital. A new purpose-built children's hospital will also be built.

Carillion will invest some £6.7m of equity in the project over the next few years.

The Oxford scheme is Carillion's fifth PPP hospital project. It has a further three PPP hospitals at preferred bidder stage, as well as the Birmingham & Solihull LIFT project.