It will also look at the potential for any future surplus assets and provide funding to develop existing assets for the Foundation Trusts’ own occupation.

The first project to be undertaken by the joint venture will be the re-development of 46,000 sq ft of new office and clinical space at Acre Mill, a former manufacturing facility, adjacent to Huddersfield Royal Infirmary.

Jamie Boot, group managing director, Henry Boot, said: “We have a long history of undertaking innovative and successful property partnerships with a wide variety of public and private organisations.

“This partnership is believed to be one of the first of its kind involving an NHS Foundation Trust and will enable the continued development of local health services within the NHS Foundation Trust in spite of public spending constraints.”