Royal Derby Hospital MSCP

Description

University Hospitals of Derby and Burton NHS Foundation Trust (UHDB) intends to enter into contracts with Noviniti Dev Co 10 Ltd (Noviniti) and CP Plus Limited (CP Plus) in respect of a new multi-storey car park development at Royal Derby Hospital, Derby (the Hospital). The documents to be executed by UHDB comprise a Licence for Alternations to be granted to Noviniti pursuant to the Ground Lease previously entered into with Noviniti, to permit Noviniti to undertake the car park works. The completed car park will be leased to CP Plus as the car park operator pursuant to a Principal Agreement for Underlease (S2AFL) and Operator Lease. There is a Deed of Covenant between CP Plus and UHDB in respect of surplus car parking revenue and certain circumstances where UHDB will support the rent payable by CP Plus. UHDB has structured the contractual arrangement as a land transaction exempt from the Public Contracts Regulations 2015 and Concession Contracts Regulations 2016. Lot 1: UHDB intends to enter into the S2AFL with Noviniti and CP Plus in respect of a new multi-storey car park development at the Hospital and a Licence for Alterations under the Ground Lease granted to Noviniti in order to permit Noviniti to carry out the development. Following completion of the works Noviniti will grant an Operator Lease to CP Plus. UHDB will be obliged to accept a lease of the car park directly from Noviniti if CP Plus defaults. UHDB has structured the contractual arrangement as a land transaction exempt from the Public Contracts Regulations 2015 and Concession Contracts Regulations 2016