The National Health Service (NHS) in the UK has one of the largest property portfolios in the UK and is one of the largest businesses in Europe. This paper considers the changing nature of the NHS in terms of health care delivery and the implications of these changes on the procurement and occupation of modern health facilities. In its second term the UK Government has embarked on an ambitious round of investment in health and education facilities in fulfilment of its promise to ëdeliverí the social improvement anticipated by the electorate in the late 1990s. One vehicle for providing such investment is LIFT (Local Improvement Finance Trust). LIFT is a form of Public Private Partnerships (PPPs), a version of Private Finance Initiative (PFI) whereby the public and private sector form a joint venture to provide develop and maintain Doctorsí premises over a contract period of 25 years. The new surgeries will incorporate additional facilities such as pharmacy, district nurse and local authority services. In addition, LIFT is intended to provide a low-risk property investment vehicle.