Crompton Place - Development Partner Procurement

Description

Bolton Metropolitan Borough Council (the "Council") invite expressions of interest from suitably qualified and experienced suppliers in relation to entering into an agreement with the Council (the "Contract") to become the Council's Development Partner for the redevelopment of Crompton Place, Bolton. Crompton Place represents an unrivalled opportunity to develop a high quality, residential-led mixed-use scheme at the historic heart of Bolton - the UK's largest and officially happiest town. The site is one of the largest single ownerships opportunities to come to the market in many years. The Council is doing things differently and de-risking the delivery of a key town centre location, allowing ambitious developers to shape the future of the Town Centre. For full details regarding the project, please refer to the Information Memorandum included as Appendix 4 to the Procurement Specific Questionnaire, issued via the Portal. Land Interests: Council Land: Land owned by the Council, edged red in Appendix 4 - Information Memorandum (pages 38 and 39). Additional Council Land: Any land outside the initial Council Land that is owned by the Council and may be added to the MDA in the future at the Council's discretion, edged blue in Appendix 4 - Information Memorandum (pages 38 and 39). Third Party Land: Land that may need to be acquired from third parties for the development (edged in green in Appendix 4 - Information Memorandum (pages 38 and 39)). Additional Council Land and Third-Party Land are included in the scope of the procurement and may be made available for development at a later date. The estimated value and contract duration applies to all categories of land interest as described above. The estimated Contract Value is as follows: Council Land = £90,000,000 to £150,000,000 Additional Council Land and Third-Party Land = £20,000,000 to £50,000,000 Total Contract Value = £90,000,000 to £200,000,000 The Contract duration shall be an initial term of 15 years with an option for the parties to agree to extend the term for up to five years on expiry of the initial term. For the avoidance of doubt, the Council is seeking to appoint a master developer partner to develop the Council's Land, via a Master Development Agreement (MDA). This will allow the parties to form a contractual joint venture approach addressing meanwhile uses and phased delivery. The MDA will provide the usual mechanisms to address the working up of the scheme designs, planning, funding and other conditional delivery items. The initial scope for the MDA will be the Council's Land as defined by the red line boundary in the Information Memorandum. Any future additional development of Additional Council Land or Third Party Land, will be agreed between the parties and is not guaranteed as part of this procurement. Pre-Market Engagement All preliminary market engagement undertaken on this project was done so before the implementation of the Procurement Act 2023. By means of transparency, details of the engagement which took place are contained in section 4 of the Procurement Specific Questionnaire.