If I were installing this boiler we would look at a brick enclosure outside to allow the internal flue to run outside, but inside, as suggested.
The alternative is a Keston, but they are pony and trap.
The PRV will need to discharge into a steel tank below ground.
If you dig a well there is still a danger of leaves or snow compromising the boiler inlet, which will be difficult to justify to a Gas Safe inspector.
The plan is to let the PRV outlet into an existing sump (plastic) that has a pump in it which pumps out when levels are high. It is mainly there for flood protection.
There is no plan to dig a well, just a small trough below the air intake of 10cm to give it clearance of 30 cm in total.
Charles.