Real estate services

Tender description

Manydown is a government-recognised transformational housing project comprising an area of approximately 843 ha (2 080 acres) west of Basingstoke, which could ultimately see the delivery of 7 800 homes in total in the current local plan period and beyond. The initial phases of the Manydown project have been allocated for at least 3 200 (with potential for this to be increased by 10 % up to 3 520) private and affordable dwellings in the first phase with the potential to develop a further 4 600 dwellings in future phases, subject to satisfactory performance during phase 1, community accommodation together with associated infrastructure and commercial/retail space. Basingstoke and Deane Borough Council and Hampshire County Council (‘the councils’), acting as joint land owners, wish to deliver the project in conjunction with a partner through a joint venture arrangement. The partner, or consortium of partners, will bring expertise, creativity and financial resources to the development. The project has an estimated total value of GBP 2 200 000 000, with Phase 1 (Manydown North) having a value of GBP 1 151 138 239. These figures are based on the gross development value for phase 1 with a reasonable forecast for future development phases. The councils have procured a joint venture partner to enter into a 50/50 joint venture vehicle (‘JV’). The councils selected a JV partner with the financial capability, technical resource and experience to deliver a new neighbourhood of the highest quality. The councils' aim is to incentivise its JV partner to take a longterm approach with strong placemaking at the heart of the delivery strategy. This approach will deliver a high quality new community, whilst also creating value and financial returns. The JV will be required to undertake or procure the provision of: — at least 3 200 (with a potential for this to be increased by 10 % up to 3 520) private and affordable dwellings in the first phase with the potential to develop a further 4 600 dwellings in future development phases, subject to satisfactory performance during phase 1; — a new district centre and supporting local centres including an appropriate provision of commercial and community facilities to support the wider placemaking of Manydown; — a small provision of self-build units and a permanent, pitch/ plot provision to meet identified accommodation needs of gypsies, travellers and travelling showpeople in the borough; — the provision of social and physical infrastructure (including the development of a road through the development), including community facilities, local shopping facilities, healthcare facilities and sports and leisure facilities including playing pitches; — the enabling of two primary schools and the safeguarding of land for a secondary school; — appropriate green space/green infrastructure including a country park; — infrastructure for sewerage on and off site and surface water drainage; and — development management services in relation to the land interests referred to above. In order to deliver these outcomes, the JV will, as a minimum, be required to undertake: — land acquisition and land assembly (in addition to disposal and transfer of land interests); — the construction and master planning design process; — development of both residential, commercial and community aspects of the site; — agreeing terms with existing owners of third party community land interests and other land interests (as necessary); — ongoing consultation, communication and negotiation with stakeholders, as required; — obtaining planning consents and negotiating and entering into planning and other related agreements; — commissioning construction phases and entering into appropriate construction contracts; — entering into development management contracts in relation to the site; — marketing and managing sales of those phases within the site which are deemed to be appropriate for sale by the JV and entering into any necessary sales agency contracts and consultancy contracts in accordance with the JV's procurement policy; — entering into legacy arrangements for the long term management and maintenance of the site; — identifying new opportunities for the JV and preparing feasibility reports and plans for any such opportunities; and — securing finance as necessary including any applicable public sector funding. The councils will participate in the JV through a corporate special purpose vehicle (councils' SPV'). The councils intend to contribute certain land interests to the JV (subject to satisfaction of certain conditions).