Joint Venture for the Alton Estate Regeneration

Tender description

Wandsworth Borough Council is seeking establish a 50:50 joint venture (JV) with a private sector partner (PSP) in relation to the regeneration of the Alton Estate, Roehampton SW15. In order to realise this ambition, the Council is seeking to procure the PSP with whom to establish the JV development vehicle, specifically to redevelop multiple sites within the Alton West and Alton East Estates. The Development Site totals circa 12.5 hectares (30.94 acres), and benefits from a hybrid planning consent permitting the development of 1,108 new and replacement high quality homes alongside a range of community, leisure and commercial uses. The Council may elect as its absolute discretion to bring future sites within Alton East & West and Clarence Lane estate into the JV for development (Future Sites). Please refer to the draft procurement documents being released at this stage (specifically the Draft Invitation to Participate in Dialogue) for more information. Lot 1: The Council is seeking to procure a PSP in order to establish an incorporated 50:50 JV for the redevelopment of multiple sites within the Alton West and Alton East Estates located immediately to the east of Richmond Park in South-West London. Together these areas total circa 12.5 hectares (30.94 acres) and benefit from a hybrid planning consent permitting the development of 1,108 new and replacement high quality homes alongside a range of non-residential uses. The Council anticipates discussing with bidders during dialogue opportunities to enhance the permission. The PSP should be suitably qualified and experienced in delivering large scale mixed-use developments within an estate renewal context and be prepared to undertake a number of roles and responsibilities in order to achieve the successful regeneration of the Alton Estate in accordance with the Council’s objectives. The Council will contribute land into the JV on a phased basis under a 250 year lease and may provide funding via loans or equity contributions. It is expected that the PSP will also provide working capital required to cover construction and development costs. To support the regeneration, it is expected that the PSP will provide services to the JV which may include (but are not limited to) development management services to the JV and construction services, and will be expected to work effectively with a range of stakeholders in delivering the required services. The estimated contract value of this opportunity is £700,000,000. This figure is based on the estimated gross development value for the Development Site (£600,000,000) and a reasonable forecast for the Future Sites that may be delivered by the JV during the contract term (£100,000,000). Further details of this opportunity are set out in the procurement documents. Please see Section VI.3. Additional information: The procurement will be conducted in accordance with the Public Contracts Regulations 2015 as amended, and successor legislation which may follow, using the competitive dialogue procedure as set out in Regulation 30 of the Public Contracts Regulations 2015.