70,000 sq.ft/£22m Contract Value
Appointed as Medical Properties Trust’s (based in the USA) development monitoring surveyor for the forward funding of this private hospital development, our role was to appraise the Development Agreement, developer’s costs, programme, site layout, designs and specifications.
We continue to monitor the project during construction. An important aspect of this role is the approval of draw downs requested by the developer under the Agreement. Underway currently (some six months into the project) the current construction is under-going modification in order to accommodate a further 120 bed rehabilitation ward which will attract an increase in contract of circa £10m.
This development is one of a number of private hospitals operated by Circle Health throughout the UK. We are providing early advice to the Fund, identifying matters that give rise for concern, in respect of costs, time and the final build quality.