LIFT (“Local Improvement Finance Trust”) is part of the UK Government’s Department of Health PPP programme, and has been established since 2001. The objective of LIFT is to deliver high quality primary care facilities (mostly new premises accommodating doctors, pharmacies, dentists and opticians) for a local Primary Care Trust (“PCT”) region (of which there are 104 in the UK).

These facilities are delivered on a programme, rather than project, basis in that a consortium, on securing the right to work in a PCT trust region will then have an exclusive right through entering into a Strategic Partnership Agreement (“SPA”) with the PCT to develop, together with the PCT, all primary healthcare projects in that region for 20 years.

Fulcrum has to date invested in 6 LIFTs in St Helens, Ealing, Hammersmith &Fulham and Hounslow, South West London, Lambeth, Southwark & Lewisham, Bristol and Oxford which comprises 36 separate construction and operation projects.

Revenue profile

Revenues exclusively come from availability payments.

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