F32 A feature of some PFI contracts is that the property is expected to be used by third parties. Where the operator relies on revenues from third parties to cover its property costs, this is evidence that the property is an asset of the operator.
F33 Conversely, where third-party usage is minimal or merely a future possibility, it is more likely that the property is an asset of the purchaser. This would particularly be the case where the purchaser in some way guarantees the operator's income from the property or where there is genuine scope for significant third-party use of the property but the purchaser significantly restricts such use.
F34 The existence of third-party revenues may be linked to the incidence of demand risk. For example, the purchaser may have the option to reduce its usage of the property, in which case the operator will attempt to find third parties to use the resulting spare capacity. If the purchaser's option is a genuine one with a real possibility of exercise, and if the operator bears a significant risk of a large fall in property income as a result, this is evidence that the property is an asset of the operator.