Option to Purchase Agreement of Land at Courtlands

Tender description

Marshgate is placing a voluntary ex-ante transparency notice to advertise its intention to enter into an option to purchase agreement concerning land at Courtlands, Todds Green, Stevenage, Hertfordshire, SG1 2JE ('the Property') with further details set out below. Lot 1: The proposed transaction provides for Marshgate to enter into an option to purchase agreement with EHP Land Development Ltd (EHP) of land at the Property. The Property has the benefit of planning permission for 17 dwellings with associated infrastructure. EHP has entered into an agreement for works for the construction of the dwellings and associated infrastructure with SJM & Co Ltd (SJM) (Agreement for Works). The option to purchase is conditional upon Marshgate entering into a novation agreement with EHP and SJM for Marshgate to be a party to the Agreement for Works in place of EHP. The Agreement for Works specifies that SJM shall construct the dwellings and associated infrastructure as per the planning permission. Additional information: This voluntary ex ante transparency notice is being published to enable the observance of a voluntary standstill period of 10 days. The standstill period will end at midnight on 7th April 2022.