As a relatively new model for estates transformation, SEPs provide an alternative approach to financing and developing estate. Whatever the driver behind the partnership, they offer a number of key benefits:
- Easy access to specialist skills and expertise – from property knowhow to funding advice, SEPs provide additional capacity and capability to support a Trust’s existing commercial and estates teams.
- Increasing the pace of transformation – with access to a complete range of services and a broad skill set, SEPs create estate solutions that are commercially sound and deliverable. This makes for powerful business cases that move projects forward at pace and can support working with other health partners.
- Financial benefits – they provide Trusts with access to well-structured private funding for estate improvements and development projects, allowing NHS capital to remain focused on frontline patient services.
- Greater control and flexibility – SEPs work on a non-exclusive basis, offering a range of flexible procurement and contracting options. This ensures the best value-for-money solution can be achieved for each and every project.
- Strategic focus – SEPs enable Trusts to take a whole estate approach, ensuring estates and facilities respond to their long term clinical, operational and financial objectives.
- Exploring new income opportunities – bringing commercial expertise, they explore new and innovative ways for Trusts to generate income from their estate, while improving the patient, visitor and staff experience.
- Improved efficiencies – by focusing on improved utilisation and taking a strategic approach to facilities management, there is the opportunity to drive efficiencies and create savings.
- Shared responsibility and risk – set up as a 50:50 joint venture, risk and reward is evenly shared between the Trust and its private sector partner. This helps to ensure that each party is focused on the same goals and encourages a philosophy of long term partnership.
For more information on the SEP model and practical advice on choosing a strategic estates partner, click here for our guide to ‘Strategic Estates Partnering for NHS Trusts'.