Office block construction work

Tender description

This notice is to advise that Chesterfield Borough Council intends to contract with Chesterfield Waterside Ltd (‘Waterside’) for the development of office accommodation at Basin Square as part of the Council's larger regeneration proposals for the Chesterfield Waterside area. The land which is subject to the proposed office development is owned by Waterside and will be transferred to the Council in exchange for a development contract between the Council and Chesterfield Waterside Ltd under which Chesterfield Waterside Limited will be responsible for constructing the office. The contract is expected to commence 2021 and complete during 2021/2022. ‘Chesterfield Borough Council (‘Council’) intends to enter in to a transaction with Chesterfield Waterside Ltd (‘Waterside’) under which the Council will purchase land from Waterside and Waterside shall be responsible for developing office accommodation on the land purchased by the Council. The two principal documents the Council is proposing to enter in to with Waterside are: 1) A Sale and purchase agreement (SPA) under which the Council will purchase the land owned by the Waterside which will be subject to the development of the office. 2) A Development and funding agreement (DFA) under which the Council will provide funding to Waterside in order for Waterside to construct the office. The Council intends to enter in to the DFA and SPA simultaneously. Under the SPA the Council intends to purchase the Land from Waterside for a value of GBP 200 000.00 The Council then intends to make GBP 5 560 855.00 of funds available to Waterside under the DFA which shall be used by Waterside to construct and provide to the Council a fully let office building and associated works at basin Square Waterside Chesterfield. The Council and Waterside will also enter in to various other ancillary documents as part of the overall transaction. The transaction is part of a wider development of the Chesterfield Waterside area which is an ongoing project.’