Royal Liverpool plans to reach financial close and sign the contract for its new hospital build before the end of the year, the trust’s recent board papers state.

The Royal Liverpool and Broadgreen University Hospitals Trust is working with contractor Carillion to progress the project.

The trust hopes to achieve financial close by 16 December, but has warned that “the potential for delay is very real”.

It has identified the completion of finance documentation – namely agreements with the European Investment Bank, Legal and General and Lloyds – as the biggest potential risk to meeting its timescales.