Lend Lease JV picked for Australian hospital PPP
Lend Lease is in the winning team to deliver the A$2bn (£1.32bn) Sunshine Coast University Hospital in Australia.
Queensland Health appointed the Exemplar Health consortium, made up of Lend Lease, Spotless Group, Capella Capital and Siemens, to build the hospital and maintain it for 25 years.
The consortium will work with Queensland Health to enter into a public private partnership arrangement to design, construct, maintain and finance the hospital.
Turner & Townsend has worked on the project as technical advisor over the last three years. “Turner & Townsend are pleased to have been able to assist Queensland Health in technical aspects of the project leading up to the announcement of the successful bidder,” said technical manager for the project Roger Simons.
The Exemplar Health consortium will deliver a 738 bed tertiary level hospital, with stage one scheduled for completion in late 2016 and further stages planned for commissioning in mid 2018 and mid 2021.
Lend Lease’s project management and construction business will perform the design and construction and Lend Lease’s infrastructure development business, Capella Capital, is acting as financial advisor to the consortium. Lend Lease will invest 50% of the equity in the Exemplar Heath project vehicle.
Lend Lease Group chief executive officer and managing director Steve McCann said the group was pleased to be working with Queensland Health on this significant project.
“Lend Lease has a strong track record of health infrastructure delivery in Queensland and this latest award confirms the experience and track record of our business in the health sector and the strength of Lend Lease’s integrated model being applied to the infrastructure sector,” he said.
Financial close on the project is expected by the end of this month followed by the start of construction.
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This article was published on 24/07/2012 (last updated on 24/07/2012).