Acquisition of primary care facility Blackpool-Whitegate
HICL Infrastructure Company Limited (together with its subsidiaries, the Group) is pleased to announce the acquisition by the joint venture holding company (in which the Group has a 75% shareholding) which it owns with Kajima Partnerships Limited, of a further PFI project, Blackpool-Whitegate, an 8,000 sqm Primary Care Facility (the Project) in the north-west of England for £2.9m.
The Project offers a range of services including diagnostics, a GP practice, children’s services, a physiotherapy and mental health unit and a community cafe. The construction cost for the Project was approximately £19m and it became operational in 2009.
The consideration paid for the Project is in line with the current valuation of similar U.K. PFI projects in the Group’s portfolio.
The acquisition was funded from the Group’s existing cash resources, and takes the number of infrastructure investments in the Group’s portfolio to 73.