Joint ventures and partnership arrangements

The trust entered into a Concession Agreement with Endeavour SCH PLC in August 1999 for works relating to the redevelopment of the James Cook site and the provision of services.

The term of the concession is for 33 years, 9 months. Endeavour SCH PLC holds a head-lease on the James Cook site and grants to the trust an underlease for a period of 30 years.

Endeavour has in place maintenance and hotel services contracts with Carillion PLC which provide both the soft and hard services. The soft services element of the concession was subject to a benchmarking process during 2007/08 with a revised service fee coming into operation from August 2008.

The concession was financed by means of Index Linked Secured Bonds, guaranteed by Financial Security Assurance (UK) Ltd (FSA).

The shareholders are Innisfree and Barclays Infrastructure (Carillion PLC having sold its equity share to these other principal shareholders).

The trust pays a unitary charge comprising an availability fee paid quarterly in advance, adjusted semi annually for retail price index (RPI). The availability fee can be reduced to the extent that any defined unit of the hospital becomes unavailable. In addition, the trust pays (also quarterly in advance) the service fee due in respect of hotel and maintenance services, indexed at RPI and with market testing of the fee to hotel services at five yearly intervals.

Other leading partners


  • Newcastle University
  • University of Teesside

Clinical commissioning groups

  • NHS South Tees CCG
  • NHS Hambleton, Richmondshire and Whitby CCG
  • NHS Darlington CCG
  • NHS Durham Dales, Easington and Sedgefield CCG