It emerged two weeks ago the £219m redevelopment of St Helier Hospital is unlikely to go ahead due to the uncertainty caused by BSBV.
Following Tuesday's announcement the trust issued a statement confirming campaigners' long-held fears about the redevelopment which included a brand new state-of-the-art hospital building, hundreds of new beds and a new day nursery.
A model of how the new hospital was expected to look
The trust admitted that later this month they will take down the giant banner, which has adorned the front of the hospital since November 2011, stating the redevelopment was 'coming soon'.
A statement from Matthew Hopkins, the chief executive of the Epsom and St Helier trust said they remained committed to improving facilities but would be investing up to £90m over the next five years.
They also intend to spend about £2m a year improving quality and safety without borrowing to any money.
Mr Hopkins said: "While the Better Services Better Value review was underway we were unable to progress the redevelopment plans. The outline business case for this investment was developed in 2009.
"As such, we need to revisit this business case and work with our commissioners to agree a level of investment in our hospitals that is affordable and ensures that the services we provide are sustainable.
"It will take a number of months to agree these plans with our board, our commissioners and the wider NHS.
"In the meantime, we believe it makes sense to remove the banner from the front of St Helier Hospital later this month.
"As always, we would like to reassure patients that, during this time of planning and approval, our priority will remain - as it always has - to provide high quality, compassionate, care to every patient, every day."