Macquarie and Just Group finance development of specialist healthcare service facilities in Southampton

4 September 2023

Macquarie Asset Management, on behalf of Just Group, has provided approximately £30 million to help finance the development a new multi-purpose healthcare service facility to be operated by University Hospital Southampton NHS Foundation Trust.

The forward funding agreement with specialist health and care property developer Prime plc, will enable the development of a sterile services facility, aseptic pharmacy, office and parking space at the Adanac Health and Innovation Campus, a short distance from Southampton General Hospital. When completed in 2025, the new facility is expected to provide essential hospital support services, research and non-residential care facilities to the NHS Trust while creating capacity for expanded clinical services at the General Hospital site.

University Hospital Southampton NHS Foundation Trust is the largest NHS Trust on the South Coast of England, serving 3.7 million residents across central southern England and the Channel Islands. Its new facility has been designed to consider modern sustainability aspects, with renewable power to be generated from rooftop solar panels and electric vehicle charging infrastructure installed on-site.

Nenna Gilmour-Platt, Head of Investment Strategy at the retirement specialist, Just Group, said: “We are pleased to invest in the development of this healthcare facility and support the NHS Trust to deliver its services. The tailored financing project, arranged by Macquarie Asset Management, is well matched to our long-term investment objectives. We help people achieve a better later life, that’s our purpose at Just, it’s why we exist, and our investment in these NHS services helps us to fulfil our purpose.”

Hugo James, Managing Director at Macquarie Asset Management, said: “Long-term institutional capital offers an attractive funding model to support the development of community and other infrastructure. We are proud to partner with Just Group once again and provide a bespoke funding model to help meet the needs of the NHS Trust, as they continue to expand and provide critical services to the local Southampton community and beyond.”

In partnership with Macquarie Asset Management, Just Group has helped finance the development and operation of nine secure real estate assets across the hospitality, education, local authority, and health sectors nationwide.

Source: Macquarie
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