Construction work

Description

The Authority is seeking a joint venture partner to lead the development of residential-led mixed-use development at several key sites. The Authority's objectives are: — To develop at least 4 sites with the flexibility to introduce different development opportunities into the joint venture at the Authority's discretion. — For the development partner to: i. Drive the development and to fund/part-fund it; ii. Provide/assemble additional land (if required); and — For the Authority to be able to choose to: i. Co-invest by way of debt and/or equity; ii. Extract its land value by way of capital receipts, revenue, a share in profits and/or development product. The sites are Authority-owned and have potential development capacity for approximately 1 000 dwellings, commercial floorspace, community, cultural and entertainment facilities and public realm spaces. The Authority will encourage its selected development partner to work with it in assembling and developing other land. The Authority is seeking, via a competitive dialogue tender process, a joint venture partner to lead the development of residential-led mixed-use development at a number of key sites in Maidenhead. The Authority's objectives in relation to the joint venture are, amongst other things: — To develop a number of schemes — it is currently anticipated that 4 sites will be made available for development; — Creating the flexibility to add additional sites — the Authority reserves the right to introduce different development opportunities into the joint venture relationship over time; — For the development partner to: i. Drive forward the development and to fund/part-fund the development. ii. Provide/assemble additional land (if required); and — For the Authority to be able to choose: i. To co-invest by way of debt and/or equity; ii. To extract its land value by way of capital receipts, revenue, a share in profits and/or development product. The sites comprise Authority-owned land and are located within wider regeneration opportunity areas. The 4 initial sites have potential development capacity for approximately 1 000 dwellings, along with commercial floorspace, community facilities and public realm spaces. The Authority will encourage its selected development partner to work with it in assembling and developing other land beyond these 4 sites. The Authority may also consider adding additional development sites to the joint venture at its discretion. The term of the contract will be adjusted accordingly.