Altnagelvin lab is ‘privatelyowned’ and will be ‘til 2032

The Department of Health (DHSSPS) said the lab - which opened in 2007 - is actually a fully private entity.

In response to a Freedom of Information request, DHSSPS said the lab was one of four hospital buildings that were “fully privately owned.” The others were the South West Acute hospital and renal units in Antrim and Belfast. The Royal Hospital Car Park is also “fully privately owned.” The Western Trust buildings were enabled by the two longest public private contracts in Northern Ireland.

The release said: “These buildings revert to public sector ownership after the contract period expires unless renewed.”

Last year the Sentinel pointed out how United Healthcare Land Company Ltd. - a consortium of developers, investors and insurers - paid £15m upfront to build the Altnagelvin lab as part of a Private Finance Initiative (PFI).

The group was supposed to earn £40m for financing the lab through payments of £1.6m every year from the Western Trust until 2032. But it emerged the annual repayment for 2012 was over £300k more than the £1.6m agreed in 2005. That means the group will be paid at least £58.9m over the next two decades from the public purse.

That’s a profit of £43.7m after its initial investment of £15.2m and maintenance costs at the lab it owns.