ID605 Ryepark Development

Description

Intention to enter into (a) a tri-party conditional contract for the sale of freehold land with Newcastle-under-Lyme Borough Council ("Council") and Capital & Centric (Illusion) Limited ("Developer") and (b) a development agreement with Developer as part of a land and build package arrangement using the negotiated procedure without notice under Regulation 32 of the Public Contract Regulations 2015 ("PCR 2015"). Lot 1: Under terms and conditions of this tri-party conditional contract for the sale of freehold land with the Council and the Developer, the Council shall sell the land to Aspire for residential development on the land. Main conditions of this sale are (a) the Council shall complete infrastructure works and a golden brick level shall be reached prior to transfer (b) Aspire shall enter into a development agreement with the Developer to complete the residential development, including design and construction of 43 affordable homes. Funding is being received for infrastructure works for this project by the Council from Homes England Brownfield, Infrastructure and Land Grant Fund.