PA0022 - Wornington Green P3 JV

Tender description

Peabody is seeking a development partner to deliver the final phase (Phase 3) of Wornington Green’s estate regeneration, via a Joint Venture (JV) structure. The site is owned by Peabody and has potential for up to 370 homes plus reprovision of community facilities and a park. The site is located in the Royal Borough of Kensington & Chelsea, along Portobello Road, and has excellent transport links and good access to local amenities. The entire estate extends across 13.8 acres with Phase 3 occupying 3.85 acres. The site benefits from a Hybrid Consent for the whole scheme including earlier phases (PP/09/02786), granted in 2010 and revised in 2014, provided planning approval for up to 1,000 new homes, extensive non-residential space, and re-provision of community and open spaces. Phase 3 is in outline and includes 368 - 370 units. The selected development partner will be expected to work with Peabody to optimise the existing consent in order to maximise deliverability, alignment of mix to housing need, commercial value, and enable compliance with Building Safety Act requirements. A new park in the centre of the development – Athlone Gardens – is being delivered in 4 stages, with the final element expected to be delivered as part of the Phase 3 scheme. The JV is anticipated to operate on a 50/50 basis between Peabody and the development partner in terms of control, funding commitments and share of proceeds. The partner is expected to be procured via a Procurement Act 2023 compliant Competitive Flexible Procedure process. See attached documentation for additional info. For more information about this opportunity, please visit the Delta eSourcing portal at: https://www.delta-esourcing.com/tenders/UK-UK-London:-Construction-work./Y566863USP To respond to this opportunity, please click here: https://www.delta-esourcing.com/respond/Y566863USP