Queen Alexandra Hospital, North Car Park, MSCP

Portsmouth Hospitals University NHS Trust ("PHUT") has entered into a series of leasing arrangements with Noviniti Dev Co 6 Ltd ("Noviniti") and Engie Services Limited ("Engie") in respect of a new multi-storey car park development ("the Development") at Queen Alexandra Hospital, Portsmouth ("the Hospital") with Engie as Noviniti's initial tenant and the car park 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). There is a Deed of Covenant ("the Deed") between the Trust and Engie requiring Engie to operate the car park. Noviniti has drawn down a 35-year ground lease of the site in exercise of an option agreement with the PHUT.