Department of Health confirms it is planning to set up a company to take over NHS property
The Department of Health is planning to set up a new national property company to manage the NHS estate.
Under the plan, confirmed by the Department of Health (DoH), the property company - known as 鈥楶ropCo鈥� - would be wholly owned by the department.
The move is expected to solve the problem of who will take over billions of pounds of NHS property after the primary care trusts are abolished from April 2013.
Industry experts estimate the property portfolio could be as much as 4,000 sites with a book value of up to 拢4bn.
David Lawrence, Capita Symonds head of health, said the move 鈥渕akes sense鈥� and has been on DoH鈥檚 agenda since the health whitepaper around 18 months ago.
鈥淭his answers the question of what they are going to do with the property portfolio held by the PCTs.
鈥淭he property company will hold the assets and then allow leases to any qualified NHS provider - who will then become the tenant.鈥�
A DoH spokeswoman said: 鈥淔urther announcements on PropCo will be made in due course.鈥�
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