Queen Alexandra Hospital, ground leases of land at the Main Entrance and North Entrance
Published
Description
Portsmouth Hospitals University NHS Trust ("PHUT") has entered into a series of leasing agreements with Noviniti Dev Co 7 Limited ("Noviniti") in respect of a new retail use and lecture theatre and clinical space development ("the Development") at land at the Main Entrance and North Entrance at the Queen Alexandra Hospital, Portsmouth ("the Hospital") with Compass as Noviniti's initial tenant and retail operator. The contractual arrangements are structured as a land transaction exempt from the Public Contracts Regulations 2015 ("PCR") and the Concession Contracts Regulations 2016 ("CCR"). Noviniti has drawn down two 46 -year ground leases ("GL") of the site in exercise of an option agreement with PHUT. The GLs have break clauses in favour of PHUT after 2 years (so PHUT can recover the site if the Development is not commenced); after 6 years (so PHUT can recover the site if only one of the two entrances is completed) and 40 years from practical completion of the Development. Lot 1: PHUT has entered into an Agreement for Underlease in respect of the Main Entrance & North Entrance sites with Noviniti Dev Co 7 Ltd ("Noviniti") and Compass Contract Services (UK) Limited ("Compass"). Compass commits to accepting the grant of two 15 year underleases (with rent obligations to Noviniti) on practical completion ("PC") of the retail space. PHUT (as head landlord) will have insurance obligations owed to Compass and a repairing covenant for the retail space. PHUT will be required to step-in to take the underlease if Compass fails to do so on PC. PHUT must enter into an Overriding Lease (to become Compass' landlord) if Compass becomes insolvent or defaults on its Underlease, in order to maintain the rental payments to Noviniti. PHUT will enter into a 25-year Reversionary Lease (with rent obligations to Noviniti) to take effect from expiry of Compass' underlease. Some education space, research and development space and common parts will be delivered as part of the scheme. Additional information: Please see Voluntary Transparency Notice of 23 December 2022 (reference 2022/S 000-036583) for details of option agreement and ground lease https://www.find-tender.service.gov.uk/Notice/036583-2022?origin=SearchResults&p=1 In relation to II.2.5. above, we have inserted "not applicable" as the requirement was not competitively tendered under the PCR/CCR"
Timeline
Award date
2 years ago
Publish date
a year ago
Buyer information
Portsmouth Hospitals NHS Trust
- Contact:
- Mark Magrath
- Email:
- mark@magrathconsulting.com
Explore contracts and tenders relating to Portsmouth Hospitals NHS Trust
Go to buyer profileSource
"Find-a-Tender"To save this opportunity, sign up to Stotles for free.
Save in appTender tracking
Access a feed of government opportunities tailored to you, in one view. Receive email alerts and integrate with your CRM to stay up-to-date.
Proactive prospecting
Get ahead of competitors by reaching out to key decision-makers within buying organisations directly.
360° account briefings
Create in-depth briefings on buyer organisations based on their historical & upcoming procurement activity.
Collaboration tools
Streamline sales workflows with team collaboration and communication features, and integrate with your favourite sales tools.
Explore similar tenders and contracts
Browse open tenders, recent contract awards and upcoming contract expiries that match similar CPV codes.
- Awarded
CWC24156 - Wolverhampton Oxley Moor Road Bridge Strengthening
Wolverhampton City Council33,665.93 GBPPublished a day ago
- Awarded
Hendon, Peel Hosue Roof Ventilation
Metropolitan Police Service165,746.81 GBPPublished a day ago
- Awarded
HCT - New Dental Suite at Nevells Road
Hertfordshire Community NHS Trust180,000 GBPPublished a day ago
- Awarded
ENHT - St Albans Renal Ward Refurbishment
East and North Hertfordshire NHS Trust45,000 GBPPublished a day ago
- Awarded
14467 - Lot 5 - Kirton Lindsey Primary School - General Building
North Lincolnshire CouncilPublished a day ago
- Awarded
14329/1 - Lot 7 - Sir John Nelthorpe School - Block B Electrics Phase 2
North Lincolnshire Council48,050 GBPPublished a day ago
- Awarded
14406/1 - Lot 2 - St Lukes Primary School - Phase 2
North Lincolnshire CouncilPublished a day ago
Explore other contracts published by Portsmouth Hospitals NHS Trust
Explore more open tenders, recent contract awards and upcoming contract expiries published by Portsmouth Hospitals NHS Trust.
- Awarded
Renal Dialysis Satellite Unit - Chandlers Ford
Portsmouth Hospitals NHS Trust8,052,454.8 GBPPublished 2 months ago
- Awarded
Rota Management System for Anaesthetics Department
Portsmouth Hospitals NHS Trust81,900 GBPPublished 8 months ago
- Awarded
Fareham Renal Dialysis Unit Landscaping Project
Portsmouth Hospitals NHS Trust59,288 GBPPublished 9 months ago
- Awarded
Rota Management System for Anaesthetics Department
Portsmouth Hospitals NHS Trust96,000 GBPPublished 9 months ago
- Awarded
Rota Management System for Anaesthetics Department
Portsmouth Hospitals NHS Trust96,000 GBPPublished 9 months ago
- Awarded
Framework For Children's and Young People's Complex Domiciliary Care Services
Portsmouth Hospitals NHS Trust30,000,000 GBPPublished a year ago
- Awarded
Sussex Health - Translation & Interpreting Services NHS/SOEPS/21.830 Invitation to Bid (Requirements 6-7) ITB
Portsmouth Hospitals NHS Trust114,000 GBPPublished 2 years ago
Explore more suppliers to Portsmouth Hospitals NHS Trust
Sign upExplore top buyers for public sector contracts
Discover open tenders, contract awards and upcoming contract expiries of thousands of public sector buyers below. Gain insights into their procurement activity, historical purchasing trends and more.
- Loughborough University
- Accent Housing Ltd
- Fife College
- Medical Research Council
- European Centre for Medium-Range Weather Forecasts (ECMWF)
- Barnsley NHS Foundation Trust
- Competition and Consumer Protection Commission (CCPC)
- Wessex Water Services Limited
- INTERCHURCH MEDICAL ASSISTANCE, INC. (IMA WORLD HEALTH)
- Bell Contracts & Co Ltd
- Anchor Trust
- John Scurr Primary School
- The Keys Academy Trust
Explore top sources for public sector contracts
Stotles aggregates public sector contract data from every major procurement data source. We ingest this data and surface the most relevant insights for our users. Explore our list of public sector procurement data sources below.