Ashurst acted as legal advisers to KfW IPEX-Bank GmbH and European Investment Bank as funders to the Papworth Hospital NHS Foundation Trust project.  Ashurst was selected as shadow legal funders by Papworth Hospital NHS Foundation Trust in 2011 with their engagement being novated to the preferred bidder, a consortium comprising Skanska and Equitix and then to the funders following a funding competition.

The project involves the construction of a new purpose-built hospital to be built on the Cambridge Bio-Medical Campus which will include 310 beds (almost all single rooms) with out-patient services and a wide-range of diagnostic and treatment facilities.

The £165 million project is funded from private finance and from public sector funding, with the Trust making capital contributions towards the costs of construction.

Construction will commence in early 2015 with the construction and commissioning phase expected to be complete by early 2018.

The Ashurst team was led by partner Jan Sanders, who was assisted by David Cave and Nick Hilder and supported by Luke Jennison on the commercial contracts.  Patrick Boyle led the team advising on the finance documents and was assisted by Gaby Jones, Karen Braakman, Harriet Gray and Tara Kapur.  Jonathan Hoare assisted on matters relating to title to the land on which the new hospital is to be built.

Jan Sanders commented:

"Ashurst was very pleased to have been selected as the shadow funder legal counsel in connection with this project to build a new state of the art hospital on the world-class bio-medical campus in Cambridge and we are delighted to have been involved in bringing this transaction to a successful close."