Interserve and Prime sign 25-year deal with University Hospital Southampton NHS Foundation Trust

Published: 23-Jun-2014

Joint venture will help to secure funding for new development projects

University Hospital Southampton NHS Foundation Trust (UHS) has selected Interserve as its long-term commercial estates development partner in a joint venture.

The partnership, which is for up to 25 years and worth in the region of £150m in total, will see Interserve and UHS working with health and social care property company, Prime, to secure funding for new development projects.

The initial programme of projects includes the construction of a new main entrance, a welcome centre, shops and a multi-storey car park, as well as an on-site hotel capable of accommodating at least 24 private patients undergoing tests or treatment.

The partnership will design, build, finance and operate new facilities required by UHS, as well as providing the trust with a spectrum of estates and support services.

UHS will receive an annual income from partnership activities and a share of the profits over the contract’s term, which will go towards supporting and enhancing the delivery of NHS care at UHS.

Adrian Ringrose, Interserve chief executive, said: “We are excited to be working with UHS in this important partnership, which will help deliver top-quality, sustainable public infrastructure and services for the people of Southampton, Hampshire and the surrounding area. Our partnership with Prime will benefit UHS patients and the staff who care for them as well as generating important additional income for the trust.”

Fiona Dalton, chief executive of UHS, added: “We are delighted to have reached this key milestone in our project to improve the patient, visitor and staff experience and form the Commercial Estate Development Partnership (CEDP) joint venture with Interserve. This is an innovative and ground-breaking partnership which will see both organisations combining their capabilities and capacity to contribute towards the trust's 2020 Vision. We are looking forward to the CEDP successfully delivering its first scheme, the redevelopment of our main entrance.”

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