Royal Derby Hospital MSCP

Description

University Hospitals of Derby and Burton NHS Foundation Trust ("UHDB") has entered into contracts with (1) Noviniti Dev Co 10 Limited ("Noviniti") (2) CP Plus Limited ("CP Plus") in respect of a new multi-storey car park development at Royal Derby Hospital, Derby Hospital ("the Hospital"). The documents executed by UHDB comprise a Principal Agreement for Underlease ("S2AFL") and a Licence for Alterations ("LTA") to be granted to 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 an 'operator lease' granted pursuant to the S2AFL. There is a Deed of Covenant between CP Plus and UHDB in respect of payment of surplus car parking revenue to UHDB and certain circumstances where UHDB will support the rent payable by CP Plus. The contractual arrangements are structured as a land transaction exempt from the Public Contracts Regulations 2015 and the Concession Contracts Regulations 2016