Redevelopment of An Post Lands, Eglington Street, Galway City Centre

Description

An Post wishes to appoint an experienced entity to finance, design, construct and operate the redevelopment of An Post lands at Eglington Street, Galway City Centre (the “Project”). Lot 1: An Post wishes to appoint an experienced entity to finance, design, construct and operate the redevelopment of An Post lands at Eglington Street, Galway City Centre (the “Project”). Eglington Street is a high quality real estate location owned by An Post which accommodates a trading Retail Office, Operating Eir Tower & services and ESB Substations, located within the heart of Galway City Centre. This prime site also accommodates additional valuable surplus unused space on this town centre zoned site located just off Shop Street (busiest pedestrian thoroughfare in the city). Interested applicants should note that certain types of usages of the development site will not be permitted and should refer to the Contract for details in this regard. The Project will proceed by way of an Agreement for Lease (“AFL”). The parties to the AFL will be An Post (as Landlord), the successful Tenderer (as Developer) and potentially a guarantor (depending on the financial situation of the Developer). The AFL will be for a term of 5 years. Within that term, the successful Tenderer must procure planning permission and complete the proposed development. There is provision for extension of the term for a period of 12 months in limited circumstances. During the term of the AFL, and from the end of year 5 (i.e. at expected Construction completion) onwards, a Licence Fee will be payable to An Post by the successful Tenderer and applicants should refer to the tender documents for further information with regard to these Fees.