Investment of ?1.9m - Birmingham Dental Hospital

RNS Number : 9255L

HICL Infrastructure Company Ld

19 August 2013

 



19 August 2013

HICL Infrastructure Company Limited

Investment of £1.9m in the new Birmingham Dental Hospital & School of Dentistry

HICL Infrastructure Company Limited (the "Company", and together with its subsidiaries the "Group"), the listed infrastructure investment company, is pleased to announce an investment of £1.9m in the development of the new Birmingham Dental Hospital & School of Dentistry (the "Project").

The Project, to be developed by Birmingham Community Healthcare NHS Trust together with its partners the University of Birmingham, Birmingham and Solihull LIFT ("BaS LIFT") (in which the Group has an investment) and Calthorpe Estates, is the first integrated, stand-alone dental hospital and dental school to be built in the UK for almost 40 years. Construction of the Project, which will take place on the former BBC Pebble Mill studios site in central Birmingham, is seen as a key element of the new Edgbaston Medical Quarter as well as further enhancing the City's reputation as a hub of Medicine, Learning and Life Sciences.

The Project, which involves the construction of a new 15,465m² four-storey dental hospital and school of dentistry, will house a range of services for the public including walk-in emergency dental care, Restorative Dentistry, Oral Surgery, Oral Medicine, Orthodontics and Paediatric Dentistry. Construction of the new building will be undertaken by Galliford Try and is expected to be completed by Autumn 2015.

BaS LIFT is jointly owned by Prime LIFT Investments Ltd and Community Health Partnerships (Department of Health); Prime LIFT Investments Ltd is a joint venture between the Group and Prime plc.

The Project is the fifteenth new health facility to be developed and financed by BaS LIFT over the last nine years and is one of the largest facilities to have been developed under the NHS LIFT initiative (Local Improvement Finance Trusts).

The investment was funded from the Group's existing debt resources.

-ends-

Enquiries

InfraRed Capital Partners Limited                            [phone]

Tony Roper

Keith Pickard

Robin Hubbard

Tulchan Communications                                            [phone]

Martha Walsh

Rebecca Scott

Canaccord Genuity                                                          [phone]

Dominic Waters

Neil Brierley

Will Barnett

David Yovichic

HICL Infrastructure Company Limited

The Company is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. It currently owns a portfolio of 89 social and transportation infrastructure investments and is seeking further suitable investment opportunities which fit its stated Investment Strategy.

Further details of the Company can be found on its website www.hicl.com.

Investment Adviser

The Investment Adviser to the Company is InfraRed Capital Partners Limited, whose infrastructure investment team has successfully invested in infrastructure projects since 1997.

InfraRed Capital Partners Limited is authorised and regulated by the Financial Conduct Authority.

 

END

 

 

MSCGGURURUPWGCQ