Release date: 13 June 2003
Promoter – Financial Intermediary
Barts and The London National Health Service Trust (the “Trust”)Location
Description
The Project comprises the reconfiguration and modernisation of the Royal London Hospital, Whitechapel and St Bartholomew’s Hospital, Smithfield. It includes new building, refurbishment of existing buildings and equipment provision.
Objectives
The Project is a key component of a ten year Government plan to modernise health services in East London and the City. The investment will enhance significantly the operational effectiveness of the hospital by eliminating unsuitable and poor quality estate. The provision of both general and specialist acute hospital services will be improved. The redevelopment will also support the hospital’s research and teaching functions. The Project will contribute to the regeneration of East London as a whole, and Tower Hamlets in particular.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to GBP 250 million (EUR 356 million)
Total cost (Approximate amount)
Approximately GBP 735 million capital cost (EUR 1 047 million)
Environmental aspects
The project will significantly enhance the built environment within which staff work and patients receive care. Located in an urban area, the new buildings will substitute for obsolete existing ones dedicated to the same activity. During appraisal, the Bank will verify whether the development is covered by EU Directive 97/11/EC.
Procurement
The project was advertised in the Official Journal in February 2002, and the selection of the preferred partner is on-going.
Status
Signed - 20/04/2006
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).