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Acting on behalf of Watkins Jones Group, JLL's Healthcare team, in conjunction with Capital Markets colleagues, successfully structured and forward funded a purpose built £18.5m health centre in Chester City Centre with Primary Health Properties (PHP).
The landmark building on Delamere Street will comprise a high quality NHS integrated resource centre (to be known as 'The Fountains') accommodating various NHS facilities, a pharmacy and four GP Practices.
The building forms part of a larger development incorporating offices and luxury apartments (with subterranean car parking) all within the prime central business district of Chester.
This transaction was particularly challenging due to the wide range of parties involved with varying objectives. Additionally there was a timing complexity caused by the transition from Primary Care Trusts (PCT's) to Clinical Commissioning Groups (CCG's) and tenancy modifications, all of which required careful management and negotiation through the sales process. Our knowledge of the healthcare market, coupled with our Capital Markets expertise enabled us to source the best investor, in this case PHP.