Ground Lease in respect of land at Southend Hospital

Descriptions

The Mid and South Essex NHS Foundation Trust" ("MSEFT") has entered into an Option Agreement with Noviniti Dev Co 12 Ltd ("Noviniti") giving Noviniti the right to call for a Ground Lease in respect of land at Southend Hospital ("the Hospital") as the site of a proposed building for intended hospital uses and clinical space including a Day Surgery Unit ("the Potential Development"). The Option Agreement is for an initial period of 39 weeks (subject to extension). MSEFT has had valuation advice and will grant the Ground Lease (which will be for a minimum term of 45 years subject to earlier break rights) ("the Ground Lease") at a premium which reflects market value as advised by independent valuation advice. The contractual arrangements are structured as a land contract within Schedule 2 paragraph 8 of the Procurement Act 2023 ("the Act") and underlying case law, and as such an "exempted contract" for the purposes of the Act and the Procurement Regulations 2024. The contractual arrangements the subject of this Notice were previously the subject of a Contract Award Notice dated 30 April 2025 and prior to that the subject of a Transparency Notice dated 17 April 2025.