Legal Services for Redevelopment & Purchase

Tender description

Request for Scope of Works Re development project at Long Street, Atherstone 1. Objective North Warwickshire Borough Council (NWBC) require advice and assistance in the form of legal services to support an upcoming development project in the Borough. As a very small in-house legal team, we do not have capacity and are looking for a firm who can help deliver the project and undertake and provide associated legal services to a high standard. Our aim is to appoint a firm effective Friday 10th May 2024 The main contact at NWBC for this procurement is Mark Watkins (Head of Legal). 2. Background A private developer active in the local authority space have identified a development opportunity for the old TNT building on Long Street, Atherstone. They are proposing to acquire this real estate, convert the use from offices into flats with parking and then sell NWBC the newly created dwellings which we will then form part of our housing stock. The developer concerned does not have sufficient venture capital in order to undertake a redevelopment like this alone and have approached NWBC with a view to us funding the project. This will likely be a multi-million pound development and the developer is proposing to operate the same business model that they previously used with a neighbouring authority. A copy of the development agreement used for that scheme is attached to this Request. The essence of this arrangement will be that the developer itself first acquires title. Thereafter it commences conversion and development works. As individual dwellings are completed practically, NWBC will purchase these. By way of financial support, NWBC will make stage payments throughout the course of the development. 3. Specification of services required. a) Initial advice on any procurement issues, problems and considerations that an arrangement like this might give rise to b) Advice on the risks of entering in to such an arrangement where, although title is not wi