Client:
Sector:
SAF worked with modular specialists, MTX to implement the finance solution needed for a new £11m modular urology facility to help expand service and care provision.
The Trust required a funding solution to ensure that the facility could be used to respond to immediate capacity challenges. After successfully partnering with offsite modular construction experts MTX for the development of a new Royal Eye Infirmary with support from SAF, they were enlisted again to complete the project.
Given the capacity constraints, the Maternity car park was chosen for the new site of the urology unit, making modular construction an ideal solution, given its flexibility and speed of delivery timescales.
The funding structure also included some significant groundworks to be undertaken alongside a large-scale landscaping package to ensure the site was ready for the new modules to be delivered.
Lastly, the Trust also had its own unique financial and budgetary challenges to overcome, which SAF was able to respond to with a bespoke structured financial agreement.
SAF worked with the Trust to implement a finance agreement for this project, addressing all the Trust’s individual concerns and challenges.
This involved presenting multiple different funding solutions to ensure the key decision-makers had the full array of options available to come to the most appropriate and cost-efficient solution, falling in line with the facilities anticipated income milestones.
SAF was able to incorporate the costs of the whole project, including the initial enabling package and facility into the contract. This meant that the finance agreement was able to absorb any additional funding needed to tackle any design or specification changes without the need for any Trust Capital.
SAF worked with MTX to deliver the state-of-the-art modular urology facility within the expected timeframes, utilising existing hospital estate to increase hospital capacity quickly and effectively in response to rising patient demand.
The SAF Solutions team implemented a 15-year agreement with a stepped repayment profile, meaning that the rental costs rise in line with the income generated by the facility. This is an attractive aspect of finance agreements as it makes the monthly cost of the facility fit within the Trust budgetary requirements.
The project resulted in an industry-leading urology unit complete with a “living roof”, addressing the Trust’s sustainability targets and positively impacting the local environment.
Adam Robertson, Director at MTX, said:
“It was fantastic to work with SAF on this project, their in-depth knowledge of how to construct bespoke finance agreements was central to the realisation of this project.
“The Trust had several intricate financial requirements, but the SAF team were able to address these at every level, seamlessly identifying a solution that would respond to these challenges and create a solution that was as economically beneficial to the Trust as possible.
“This is the second project we have worked on with SAF for University Hospitals Plymouth, and their expertise and pragmatic approach is essential in making these projects happen.”
Looking for First-Class Asset Finance Consultancy?