Bacton Low Rise Estate Phase 2 - Developer Partner Procurement

Tender description

The London Borough of Camden seeks the appointment of a development partner for the delivery of the “Bacton Phase 2” development site. Lot 1: The London Borough of Camden (“the Council”) intends to secure a development partner for the delivery of the “Bacton Phase 2” development site. The site is the second phase of the Bacton Estate regeneration project. The first phase of the project was completed in 2017 and delivered 46 social rent dwellings, 20 private dwellings, and one intermediate dwelling. The Bacton Estate is located in an area identified for significant estate renewal in current and emerging local planning policy. It is adjacent to the Wendling Estate and situated to the north of the West Kentish Town Estate, both of which are subject to regeneration proposals that have received positive endorsement through recent resident ballots. In addition to this Council led estate renewal in the locality, planning policy promotes a number of large scale regenerative projects in nearby neighbourhoods including Kentish Town, Haverstock and Camden Town. The site extends to circa 0.9ha in size benefits from two principal points of access. An initial planning permission was obtained for the regeneration of the Bacton Estate in 2013 (ref 2012/6338/P). The permission for Phase 2 was revised via a Section 73 minor material amendment in 2018. The current permission includes 176 private, 61 social rent and 10 intermediate homes, as well as circa 260 square meters of commercial floor space (ref 2016/5358/P). More recently the Council has undertaken a design review of Phase 2 designs to address elements that require improvement in line with legislative changes, and to explore opportunities to optimise the scheme. It is envisaged that the Council will secure the services of a suitable development partner via a Development Agreement. The partner will acquire a long leasehold interest in the Phase 2 site; complete a planning amendment application to update the design in line with legislative changes and optimise the design; finance and build out the entire scheme; and sell the private homes. The consideration payable to the Council will be the social rent homes plus any additional land payment in cash. Additional information: Interested parties are required to sign in or register (free of charge) to access the procurement documents via the link given at I.3. The estimated total value shown in II.1.5 and II.2.6 is an expression of the estimated gross development value (GDV). The Council reserves the right to terminate the process at any time prior to award of contract. The Council does not bind itself to accept any new tender received and reserves the right to call for new tenders should they consider this necessary. The Council shall not be liable for any costs or expenses incurred by any tenderer in connection with the completion and return of information requested in this contract notice or the completion or submission of any tender.