This article is from the Australian Property Journal archive
LEND Lease's United Kingdom public private partnership business, Catalyst Lend Lease has sold its 50% interest in Queen's Hospital, Romford.
The stake has been sold to HSBC Infrastructure Company Limited for £23.9 million (approximately $A43 million).
The sale is conditional upon consent of the Financial Security Assurance (UK) Limited and is expected on December 03.
Catalyst Lend Lease will continue to provide management services to the 939-bed acute care hospital and Vita Lend Lease will continue to provide lifecycle maintenance to the hospital facilities.
Lend Lease CEO Steve McCann said the sale is part of the company’s strategy of recycling capital to drive the group’s return on equity and fund future PPP opportunities in the UK.
Australian Property Journal
