Buying and selling of real estate

Tender description

Cheshire West and Chester Borough Council (‘the Council’) is looking to appoint an investment agent to advise it on the sale/ funding of Northgate, Chester. This is a two stage instruction that will be awarded based on a one off procurement and appointment process. Northgate will be the prime retail and leisure centre in Chester with a lot size in the range 200 000 GBP - 300 000 GBP. Northgate is a retail led mixed use scheme incorporating residential, hotel, market, offices and cinema. The scheme is currently pre construction with a phased completion targeted through 2018-2021. The high level programme is provided at Schedule 2. The scheme has an estimated ERV of 15 000 000 GBP. The Council requires an investment agent to advise on all options available for the forward sale/ funding of the scheme. The Council will require an investment agent to provide initial strategic advice on the options for funding/ sale within 8 weeks of appointment. The successful bidder will then act as formal agent for the sale/ funding of the scheme, subject to satisfactory performance and scheme progression.