Joint Venture for Development of Multiple Sites in Bracknell Forest

Tender description

This is a summary of information provided in part on tenders electronic daily (TED), part of the Official Journal of the EU ref: 2019/S 099-239891 and in full in the documents on the South East Business Portal (see below). The Council has the ambition of delivering development in Bracknell and beyond, in order to promote economic development, enhance vitality, and secure new homes and facilities for local residents and businesses. The Council's overarching project vision is to deliver high quality development that supports a thriving, 18 hour town centre and catalyses further regeneration in the area, and that serves the needs of all residents and businesses, including new community facilities and affordable housing, fostering a sense of local ownership In order to realise these ambitions, the Council is seeking to procure a PSP with whom to establish a 50:50 JV development vehicle. The Council and the PSP's respective interests in the JV will be established through a Competitive Dialogue procurement process. The estimated contract value of this opportunity is between 200 000 000 GBP and 1 000 000 000 GBP. This figure is based on the estimated gross development value for the Category 1 sites (circa £200,000,000) with a reasonable forecast for future Category 2 Sites, Category 3 Sites and Community Facilities that may be brought into the scope of the JV during the contract term. The reason for the range is due to a variety of factors which include but are not limited to, the lifespan of the JV, the possibility of fluctuations in market conditions over the contract term and the challenge of forecasting the use, scale and value of the future Category 2 Sites and Category 3 Sites and Community Facilities which have not yet been identified by the Authority The Council envisages a contract period of approximately 15 years with an option to extend the contract period in a number of periods up to an overall extension of 10 years. The actual period will be determined by best value considerations during the procurement procedure. Organisations must register their interest on the South East Business Portal (https://sebp.due-north.com/) (the "Portal") in order to receive any changes or notifications issued by the Council during this tender process. The Council will not be held responsible for lack of communication to any organisation who does not register their interest. Clarification questions must also be sent through the Portal. For more information about this opportunity please visit the Portal. The Council reserves the right not to award the contract in whole or in part, to cancel or amend the tender process and does not bind itself to accept any tender. The Council shall not be liable under any circumstances for any costs, charges or expenses incurred by any bidder or prospective bidder in responding to this notice or in taking part in this procurement process. Advisers to the procurement procedure have been Avison Young and Pinsent Masons.