Concessio Canonical ID
GB40P0002408
Registry Preview
Overview
Capital value
£256m
HMT 2025
Expiry
2040
14 years remaining
Unitary charge
£102.6m
FY 2026-27
Deep Scan
Investment ThesisLocked
Relocation of Acute services is an operational Private Finance Initiative social infrastructure concession in the United Kingdom, with 14 years remaining to the 2040 contract end — grantor Portsmouth Hospitals University NHS Trust, operated by The Hospital Company (Qah Portsmouth) Limited, a 2-holder equity registry on file (HMT 2025).
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Public Registry Fields
General Information
Display format
GB-40-P-000240-8
Country
United Kingdom (GB)
Sector
Social Infrastructure (40)
Family
Social
Structure
PFI/PF2 (P) · Private Finance Initiative
Grantor
Portsmouth Hospitals University NHS Trust
Operator
The Hospital Company (Qah Portsmouth) Limited
Financial close
15 Dec 2005
Operations start
15 Jun 2009
Contract end
15 Dec 2040
Capital value
£256m (HMT 2025)
Unitary charge (2026-27)
£102.6m
Equity holders (2025)HICL Infrastructure PLC — 56% · MM Capital Partners — 44%
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Contract Economics
Financial Terms & ClausesLocked
| Term | Value | Price base | Period | As of |
|---|---|---|---|---|
| Unitary charge (annual) | £102.6m | Nominal · outturn | FY 2026-27 | HMT 2025 · verified |
| Indexation basis | ||||
| Availability deductions | ||||
| Performance deductions | ||||
| Market testing / benchmarking | ||||
| Termination compensation | ||||
| Change in law | ||||
| Handback provisions |
Locked rows show the standard UK PFI project agreement term set tracked by Concessio; extracted values render as they are verified against primary sources. Full clause text and citations are available in the app.
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Sector-Benchmarked
Operating KPIsLocked
| Metric | Latest | Period | Sector percentile | Coverage |
|---|---|---|---|---|
| Concession period (years) | 31.5 | — | 90th |
registry |
| Capital value | £256m | 2025 | 95th |
HMT annual · public |
| Availability (%) | ||||
| Deductions (% of UC) | ||||
| Lifecycle spend vs plan (%) |
Percentile bars show this concession's position against Social Infrastructure benchmark cohorts in the registry (largest cohort n=1,517). Interquartile band shaded. Locked rows show the standard KPI set for this asset class — series and percentile placement unlock in the app.
Equity History
Ownership & TransactionsLocked
| Date | Event | Stake | Consideration | Implied EV | Counterparty |
|---|
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Counterparties
Parties & ContactsPartial
Grantor
Portsmouth Hospitals University NHS Trust
Department of Health and Social Care (DHSC) · United Kingdom
Operator / SPV
The Hospital Company (Qah Portsmouth) Limited
Company No. 05439918
In the full profile
Management service co.
Hard FM provider
Senior lenders
Financial adviser
Legal adviser
Diligence Signals
Risk & CounterpartyLocked
Diligence signals
3 tracked
contractual · market · political
Grantor election exposure
Disputes & precedent
The full risk register covers counterparty credit, political cycle, regulatory determinations and dispute history for concessions in this class.
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Public Record
FAQs
Who is the grantor of this concession?
The grantor on file is Portsmouth Hospitals University NHS Trust.
Who operates Relocation of Acute services?
The operator on record is The Hospital Company (Qah Portsmouth) Limited.
When does the concession expire?
The contract end on file is 15 Dec 2040 — 14 years remaining.
What is the unitary charge?
The unitary charge for FY 2026-27 is £102.6m per the HM Treasury 2025 return. The full indexed schedule is available in the platform.
What is the capital value?
£256m per the HM Treasury 2025 return.
Who holds the equity?
Per the HMT 2025 return: HICL Infrastructure PLC (56%), MM Capital Partners (44%). Transaction history is available in the platform.
Transparency
Data & Sources
How this entry is verified
Reconciled against HM Treasury PFI/PF2 2025 summary data. View the gov.uk publication →
How Concessio sources data
Records are extracted from primary public sources — regulatory filings, government disclosures and official registries — and cross-checked before entering the platform. Every published datum carries its source citation in the app.