Winner for Watford Health Campus
31 August 2012
A preferred bidder has been named on the Watford Health Campus local asset-backed vehicle (LABV) scheme.
Contractor Kier has won the competition to deliver the redevelopment of the campus site, which will include new hospital facilities, homes, office space and car park.The firm beat off rival bidder John Laing, after Vinci and a consortium led by Chesham Estates had been knocked out earlier in the process.
Of the 650 new homes to be built under the contract, 35% will be affordable housing, while the office space will be pre-let to West Hertfordshire Health Trust.
Kier will now work with the trust and Watford Borough Council to get the LABV signed off. Financial close for the project, which could be worth over £500m, is scheduled for the end of this year.
For more information on the deal, click here.
