The buyer was a subsidiary of HICL Infrastructure Company.
The Salford Hospital PFI Project is a 35 year concession, procured by the Salford Royal NHS Foundation Trust, to design, construct and commission new-build hospital facilities. The project reached financial close in 2007 and construction of the new facilities was completed by Balfour Beatty in 2012. Balfour Beatty WorkPlace is providing hard facilities management services to the project.
Balfour Beatty has now sold £80.5m of PFI assets so far this year, netting £44.9m of gains.
Chief executive Andrew McNaughton said: "It is pleasing to see that our strategy of regular asset disposals to release some of the accumulated value in our portfolio continues to deliver additional income and cash to the group.”
HICL has now made four PFI acquisitions in recent days for a total of £107.9m. As well as Balfour Beatty’s Salford Hospital stake ad Morgan Sindall’s third share of the Miles Platting PFI housing scheme in Manchester (reported here last week), it has also bought a 75% equity and loan note interest in the Gloucester Fire & Rescue PFI Project from Kier, Cardon Croft and Capita, as well as a 12.5% share of the Allenby & Connaught MoD project from Carillion.
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