Northampton General Hospital Main Entrance and Retail Facility

Tender description

Northampton General Hospital Main Entrance and Retail FacilityNGH intends to enter into a suite of documents relating to the occupation of the development following practical completion of the Development. These documents will comprise: 3 agreements for lease, 2 licences for alterations and an agreement to vary the terms of the Noviniti Lease with the counterparty to those documents being Noviniti and in some instances, Compass Contract Services (UK) Ltd ('Compass'). Those documents are referred to as the 'Transaction Documents'. The transaction documents will provide for the grant of a reversionary lease to NGH of the development and for the grant of a lease of the development to Compass for a term of 15 years commencing upon practical completion of the development. In addition, there will be the grant of a sub-lease by Compass to NGH of parts of the development. The transaction documents will also provide for the grant by NGH to Compass of a lease of part of other retail areas within Northampton General Hospital. NGH has structured the contractual arrangement as a land transaction exempt from the Public Contracts Regulations 2015 and Directive 2014/24/EU.