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Queen Alexandra Hospital, ground leases of land at the Main Entrance and North Entrance

Closed
Deadline
Deadline not specified
Contract Details
Category
Restricted Procedure
Reference
015568-2023
Value
£13,200,000
Location
United Kingdom
Published
August 26, 2026
CPV Code
Project Timeline

Tender Published

June 01, 2023

View Original
Budget
£13,200,000
Duration
480 months
Location
United Kingdom
Type
Restricted Procedure

Original Tender 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.

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