The Acorn consortium achieves the financial close of South East Wales new Velindre Cancer Centre

  • The consortium, led by Sacyr, will design, build and operate this state-of-the-art Cancer treatment centre in Wales.
  • The centre will be built to the highest environmental standards and has already won a healthcare design award.
  • The centre will care for more than 1.7million people in Wales.

The Acorn consortium, the group of companies which has financially backed the construction of the new Velindre Cancer Centre, has signed all contracts to financially close the project

The consortium comprising of Sacyr, Kajima Partnerships, abrdn and Development Bank of Wales Investments (MIMS) Limited have come together to fund the state-of-the-art Cancer Care centre, which will be built by contractor Sacyr UK and is due to start operating by April 2027. Work on site is due to start in April. The funding group also includes Aviva Investors, Siemens, Sumitomo Mitsui Trust Bank, CaixaBank, Norinchukin, Nomura and Nord/LB.

The contract, awarded by Velindre University NHS Trust, includes the design, construction, financing and a 25-year maintenance period. The new centre will be the pinnacle of innovation for UK healthcare and is set to be one of the most sustainable hospitals in the UK.

With a gross external area of 60,000 m2 plus external areas in a landscape of 7.86 ha, this treatment centre in Cardiff will improve cancer care for over 1.7 million people and for future generations in Wales.  


Sustainable and high-quality services

The new centre is part of Velindre University NHS Trust’s Transforming Cancer Services Programme. It will provide patients and carers with high-quality and sustainable services, delivering the most effective treatments while also leading national and international education, research, and innovation in cancer patient care. 

The new Velindre Cancer Centre’s design has already been crowned the “Future Healthcare Project” at the European Healthcare Design Awards 2023.

It has been designed to reach the highest standards of environmental and ecological performance and will feature highly energy-efficient systems and be operationally low carbon. It will be built according to BREEAM Excellent (sustainability and environmental measurement of buildings) certification criteria. 

In addition, the infrastructure will be friendly to the local environment and its landscape value and will protect and respect the biodiversity of the surrounding area.

Maria Ortega Carreras, Project Director of Sacyr UK, said of the closing: “This is a pivotal milestone in the development of the new Velindre Cancer Centre, and we are looking forward to getting on site and beginning work on this innovative and important building.

“This hospital is Sacyr’s first concession project in the UK, and we are already working on important infrastructure projects around the country, such as the new transport hub in Belfast.

“Sacyr has comprehensive experience building and operating hospitals, as we have built more than 60 hospitals around the world, nine of which are under concession. We are very proud to be working on this project, which will be pivotal to looking after the health and wellbeing of so many people in Wales”, Ortega added.


About Sacyr UK&I

Operating in the UK & Ireland since 2015, Sacyr specialises in innovative road, rail and construction projects adhering to top-tier quality and efficiency standards. 

With a total investment exceeding €800 million, Sacyr collaborates with various stakeholders to deliver impactful infrastructures. Notable achievements include constructing over 80 kilometres of roads, developing 155,000 sqm of infrastructure, and benefiting 17 million individuals. 

Recent projects include the expansion of the Ulster University Belfast campus, enhancements to Edinburgh's tram network and Belfast Grand Central Station, currently under construction.

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