Balfour Beatty’s interests in the Aberdeen Western Peripheral Route (33%), Woodland View Hospital in Ayrshire (100%) and North West Fire & Rescue (100%) to BBGI Global Infrastructure.
The price is undisclosed at this stage but it is higher than Balfour Beatty’s valuation in its end-of-year accounts last December, the company said.
Balfour Beatty said that the sale of assets from its the infrastructure investment portfolio with in line with its strategy to optimise value and recycle the return by investing in new equity opportunities.
The Aberdeen Western Peripheral Route encompasses the design, construction, financing, operations and maintenance of 12 km of the existing and upgraded roadway as well as 47 km of new dual carriageway. The final section of the road opened in 2019 at a cost of £1.2bn, more than twice the original budget
The Woodland View Hospital consists of the design, construction, financing and maintenance of a 206-bed acute mental health facility and community hospital in Irvine, North Ayrshire, Scotland. The hospital became operational in 2016.
The North West Fire & Rescue project consists of the design, construction, financing, and maintenance of 16 new community fire stations in the North West of England. The facilities became fully operational in 2013.
Balfour Beatty remains the maintenance contractor on these projects, but no longer the owner.
Last month Balfour Beatty announced the sale of its 70% interest in the British Columbia
Children's & Women's Hospital Redevelopment Project Phase 2 - Teck Acute Care Centre, in Vancouver, Canada. The disposal proceeds of £20, also in excess of the directors' valuation, represented a pre-tax profit on disposal of £7m. That was Balfour Beatty’s first PFI asset disposal since 2019.