Development services of real estate

Tender description

Experience in Great Britain and Europe has already shown that investing in public transport infrastructure, particularly in station investment, improves the public transport experience and positively impacts local and regional economies. In addition to providing benefits for passengers, these major transport projects have unlocked the inherent development potential of property around the stations and as a result many cities and communities have seen increased economic and social regeneration, investment and employment. Weavers Cross is an opportunity to develop c 1.3 plus million sq.ft. of mixed-use development on an 8-acre site with a gross development value in the region of GBP 350 million-GBP 400 million. Right in the thriving heart of Belfast, the site is within a few minutes’ walk of the commercial, retail and hospitality centre of Northern Ireland’s capital city. Located at the centre of Weavers Cross itself will be Translink’s new 15 000 m2 Transport Hub - a high-tech focal point for bus, rail and active travel, it will act as a catalyst for energy and growth, connecting people from all over the island and providing a gateway to all major airports. Work on the Belfast Transport Hub, which is a NI Executive Flagship Project and is publicly funded is already underway and it is evident that the project enjoys strong support. Translink is seeking a master-developer Private Sector Partner (PSP) with a proven track record of funding major development projects as well as relevant experience, skills and resources to realise the vision for Weavers Cross via participation in partnership with Translink. The PSP could be a single organisation or group of organisations that bring together the necessary funding, experience and expertise. Translink currently envisages that the Weavers Cross Site will be developed on a plot-by-plot (or group of plots) basis, subject to satisfaction of pre-conditionality. It is anticipated that the PSP will procure the delivery of infrastructure works, undertake/oversee direct development, secure occupiers and dispose of completed development parcels. Translink will continue to hold its freehold interests in the site. We are issuing this notice as part of our pre-market engagement activity. A questionnaire and further information will be made available on the Weavers Cross website from the 12 November for potentially interested organisations to complete and return to Translink by 5.00 pm 10 December GMT. The purpose of this questionnaire is to elicit initial market feedback on Translink’s proposed approach to selecting a PSP for Weavers Cross. Translink reserves the right to engage with all or any of the respondents to this questionnaire should it deem it necessary and in order to secure additional clarity on some or all of the responses received. Translink intends to hold an online presentation outlining the Weavers Cross opportunity on the 26 November 2020. To register to attend the event please email eventsni@cbre.com with the subject line Weavers Cross Developer market day 26 November 2020. Parties should note that participation in this pre-market engagement exercise and attendance at the online presentation and/or one-to-one meetings (should there be any), are not prerequisites to participating in any subsequent procurement process. Translink is committed to ensuring that all parties are treated equally, and any information shared by Translink during the pre-market engagement exercise will be made available to all parties once any formal procurement process is initiated. See www.weaverscross.co.uk for more information.