Aviva backs development of Welsh cancer treatment centre

Aviva Investors is providing finance for the development of a new cancer treatment centre in Wales.

Velindre Cancer Centre is to be developed on a 7.8-hectare site in Whitchurch, in the north west of Cardiff. It will replace an existing facility, originally built in 1956, which provides services for over 1.7 million people in South East Wales and beyond.

The development will be all-electric and target a BREEAM ‘Excellent’ rating. Air-source heat pumps are to be utilised to support low operational carbon objectives. During construction, site waste will be minimised by manufacturing components off site which will cut transportation requirements and create efficiencies in the construction and maintenance of the hospital.

The project is being procured under the Welsh Government’s Mutual Investment Model (MIM), the emphasis of which is on improving public services and providing wider community benefits. The centre is also being developed in compliance with the Wellbeing of Future Generations (Wales) Act 2015 and with the ambition to be one of the most sustainable hospitals in the UK.  Construction has just started and the centre will be commissioned during 2027.

Aviva Investors is investing in the projectc on behalf of Aviva UK Life and the scheme is Aviva Investors’ second investment under Wales’ MIM. The investor provided all of the senior debt financing for the development of a school in Flintshire in 2022.

Marcus Mollan, investment director at Aviva said that the new centre will build on the current hospital’s reputation. “With the scheme’s ambition to also provide an international focal point for research and development through its Collaborative Centre for Learning, Technology & Innovation, we are very proud to play a part in helping the UK get ready for the future by supporting a facility which will create a significant legacy and positive impact on people’s lives for generations to come.”