Giles Lane Student Accommodation Project

Description

A Public Works contract under Regulation 32(2) (b) (iii) of the Public Contract Regulations 2015 for the development of student accommodation at Giles Lane, Canterbury, Kent. Lot 1: This Notice sets out the contracting authority's award of a works contract using the negotiated procedure without prior publication, in accordance with Regulation 32 of the Public Contracts Regulations 2015.The University of Kent (the "University") has entered into a transaction to secure new student accommodation ("the Transaction"). The University has entered into an Agreement for Lease ("AFL") with Canada Life (the "Fund") and Giles Lane Investments Limited (the "Developer") for the construction of 91 new student rooms (the "Development") on a property known as Landon, Giles Lane ("Landon") which adjoins the University's Canterbury campus. The AFL contains obligations on the Developer to procure the construction of the Development and obligations on the Fund to grant an occupational lease to the University ("the Underlease") on practical completion of the Development. The Underlease will be a full repairing and insuring, financing lease, with limited rights of assignment by the University, containing an indexing rent with cap and collar. On expiry of the Underlease, subject to payment of all rents and interest to the Fund, the University will have the option to purchase the Headlease from the Fund for one pound (£1) (the Fund will also have the option to require the University to purchase the Headlease for one pound (£1)). The Transaction comprises a number of other arrangements, including: • a building contract between the Developer and a building contractor, and the appointments of a professional team by the Developer, with warranties in favour of the University; • arrangements in respect of the construction and maintenance of a wetland, to satisfy a planning condition for the Development; • licence arrangements to enable certain other wetland works to be undertaken on the University's campus, to satisfy a planning condition for the Development; • the grant to the Developer of an option over other land of the University; • the University received a payment on completion of the Transaction.