Portfolio

Southmead Hospital, UK

Project capex

£431 million

Concession

35 years

HICL holding

31.25%

Sector

Health

Region

UK

Finance, construct, operate and maintain an acute hospital for Bristol NHS Foundation Trust

Southmead Hospital is an acute hospital concession in North Bristol, providing critical healthcare services on behalf of Bristol NHS Foundation Trust. The hospital is one of the largest acute healthcare facilities in south-west England and is recognised for its modern design and operational excellence. [HICL – Sou…g LinkedIn | Word], [RE: HICL J…Papers IC | Outlook]

The £431 million project reached financial close in February 2010 under a 35-year concession agreement. Construction was undertaken in two phases and included the development of the 102,000 sqm Brunel Building, which was completed in March 2014. The hospital has been fully operational since May 2014, with the second phase of the project substantially completed in 2016.

In August 2025, HICL sold a portion of its interest in Southmead Hospital to APG as part of a broader portfolio transaction involving seven UK PPP assets. The transaction reflected HICL’s active approach to portfolio management and value realisation, while HICL retained an investment in the asset.