3-7 Corporation Street Rotherham, Development Delivery Partner

Tender description

1Rotherham Metropolitan Borough Council is seeking to appoint a developer to deliver, manage and own a residential led mixed-use development on 3-7 Corporation Street, Rotherham. This site can make a significant contribution towards the delivery of a revitalised Town Centre. The disposal of the site will be in accordance with RMBC’s corporate and policy objectives and be subject to developer and funding agreements. It is anticipated that the contract will commence on 01/03/2024 and will run for an estimated period of 20 months making the expiry date 31/10/2025. The total anticipated contract value is £4.2million This estimate is based on Council contribution plus anticipated sales value of residential and commercial units outlined in the current scheme. Lot 1: Rotherham Metropolitan Borough Council is seeking to appoint a developer to deliver, manage and own a residential led mixed-use development on 3-7 Corporation Street, Rotherham. This site can make a significant contribution towards the delivery of a revitalised Town Centre. The disposal of the site will be in accordance with RMBC’s corporate and policy objectives and be subject to developer and funding agreements. The Council is seeking to appoint a developer who will lead, finance, manage delivery, and retain ownership of the scheme. Other than securing and transferring the land to the developer and funding any viability gap that may exist on the development, the Council does not anticipate having any role in the development or the longer-term ownership and management of the site. This project is key to the Town Centre Masterplan and also aligned with the Rotherham Housing Strategy which refers to the creation of a new urban community in the town centre as a key action, alongside its themes of: • CREATING HOMES - providing new homes to meet Rotherham’s housing need. • STRENGTHENING PLACES by investing in Rotherham’s existing housing and communities. Rotherham Council Plan 2022/2025 prioritises the creation of ‘a vibrant town centre where people want to shop, work, and live’. Providing residential units at 3-7 Corporation Street and modern commercial space to the ground floor that could be used for shops, restaurants or cafes will contribute positively to these priorities and delivery of the town centre revitalisation. The town centre is also identified in the Rotherham Economic Growth Plan as a key priority for investment. In terms of the Government’s ‘Levelling Up’ agenda, ‘left behind’ regions of the UK are a priority - Town Centres are seen as a crucial part of communities and local economies. In recognition of this, the Council has been awarded £31.6m from the Towns Fund programme and £12.6 million from the Future High Streets Fund towards the regeneration of the town centre. The acquisition and development of the derelict properties that make up 3-7 Corporation Street is an important component of this transformative programme. Through the Town Investment Plan, a series of Town Centre projects are being developed to transform the town centre and its economy. The funding award includes an allocation to bring 3-7 Corporation Street into public ownership and demolish the current, derelict buildings, offering a cleared site for redevelopment. The council wishes to work with the private sector to secure the delivery of a new residential led mixed use development. The redevelopment of the site will bring about a critical change of use, helping to repopulate the town centre and offering modern commercial space to take advantage of the significant leisure-focused investment at close by Forge Island.