Construction work

Tender description

Development of a residential scheme with an outline planning consent for 96 houses. Westco will enter into a joint venture agreement with Devonshire Homes Ltd (DHL) to develop the site. Westco will sell part of its interest in the site to DHL so that both parties are tenants-in-common. The contractual joint venture (50/50) agreement will set out procedures for both parties to take forward the outline planning permission and procure the detailed planning consent. It will also cover joint procedures to develop out the site and allocate the profits on a 50:50 basis between the parties. Westco will not be specifying or commissioning works. DHL will be wholly responsible for specifying the works, procuring the supply-chain and undertaking the development in accordance with the joint venture agreement with a deadlock position on decision-making. The completed units will be sold on the open market and the affordable housing units will be sold to a Registered Provider offering the best price. All work will be carried out by subcontractors procured and appointed by DHL.