Urban development construction work

Tender description

London South Bank University (LSBU) is seeking a development partner to bring forward the redevelopment of its current Technopark site on its main campus at Southwark in the heart of London's Elephant and Castle. This is an exciting opportunity to acquire the long leasehold interest in a significant central London development site. The proposed project will involve the redevelopment of part of the site for a range of accommodation for LSBU and its student community, and the remainder of the site lends itself to a wide range of potential development opportunities. A minimum capital receipt to LSBU will be required. The contract opportunity is not suitable for division into lots given the nature of the project. Further information about the opportunity is set out in the remainder of this notice. Interested parties should contact LSBU via the contact details set out in section I for an information pack and Pre-Qualification Questionnaire. The Technopark site currently consists of 8,901 sq metres of office space. The project's aim is to bring about the redevelopment of the site for a number of uses, and providing learning space, conference facilities, offices and student accommodation for LSBU at no capital cost and to generate a significant capital receipt. LSBU intends that the site will be transferred to the successful developer on a long leasehold basis. It is intended that this part of the completed development would then be leased to LSBU on terms to be agreed during the negotiation stage and incorporated in any principal development agreement (PDA). The remainder of the site could be developed, subject to planning, for a variety of uses only as approved by LSBU. It is intended that the development will be structured in such a way that the risk and the cost of securing planning consent will be carried in full by the successful development partner. It is intended that the land price paid by the developer for the site will reflect the uplift in the value of the site that will be achieved via the planning consent. An overage structure may also be included and negotiated in the procurement. The design of elements of the development to be leased back to LSBU must meet the minimum requirements of LSBU as set out in the tender documents. LSBU is seeking a high quality, environmentally sustainable solution which will meet all of its requirements. As a minimum LSBU will require the following elements to be re-provided to it and as set out in the descriptive documents: 1. Conference facilities. 2. A minimum number of student bedrooms meeting LSBU's minimum standards. 3. Teaching accommodation, general teaching spaces and offices. 4. Reception, lobby and café/dining facilities as set out in the descriptive document. 5. Other requirements as set out in the descriptive document and the procurement documents, and related accommodation within the scope of this project and as may be negotiated or agreed between LSBU and bidders during this procurement process. LSBU has a range of minimum requirements for the commercial arrangements to be entered into by it with the successful developer, to include as a minimum: 1. That some or all of the minimum space and output requirements are delivered as a first phase of the development (as agreed with LSBU); 2. That the financial model meets LSBU's financial projections and requirements (including a minimum level of capital receipt); 3. That LSBU is able to demonstrate best value through the transaction; and, 4. That the developer is able to provide or source (at no cost to LSBU) appropriate decant accommodation/provide a decant strategy that minimises impact on LSBU and its teaching and wider activities, ensuring continuity of the normal business of LSBU. Further information will be provided to those invited to negotiate and tender for this opportunity.