Canada Life Asset Management has purchased a 140- year leasehold interest in a site forming the first phase of the Adanac Health & Innovation Campus in Southampton, UK, for University Hospital Southampton NHS Foundation Trust.
The £26.5 mln (€30 mln) funding package for the construction by developer Prime of a 1,000 space multi-storey park and ride car park aims to complete construction by April 2022, when the hospital trust will enter a 40-year leaseback at an initial rent of £642,512 per annum.
‘The car park will free-up space and congestion in and around the General Hospital campus to enable increased capacity for future additional frontline services,’ said Michael White, head of UK Property at Canada Life Asset Management. ‘The car park has been designed to a high standard in provision of disabled access spaces and with future electric vehicle charging in mind.’
