Contract for the Development of Flowers Lane and Purchase of 460 Additional Housing Units

Description

The development agreement relates to sale of Torus62 Developments Ltd’s Flowers Lane site to the developer, who will provide build-out of 120 x s.106 units and provide a further 460 x housing units to Torus62 Developments Ltd across various additionality sites. The development agreement is being entered into by Torus62 Development’s Ltd for the purpose of providing affordable housing that will support the existing and future needs of the local community. Lot 1: This Contract Award Notice is being published to provide notice of the use of a negotiated procedure without prior publication, in accordance with Regulation 32 of the Public Contracts Regulations 2015. Torus’ Flowers Lane site benefits from full planning permission with the Section 106 requirement for a minimum of 30% affordable homes. Provisionally, the site was openly advertised to the market with proposals invited for any of the following: - i)The building out of the site ii)The purchase of the land iii)The building out of the s.106 units and the remainder of the site for the developer iv)Any other proposals. Given exceptional market conditions and significant costs, the building out of the site was not a viable option. Castle Green Homes Limited proposed to buy the land and provide build-out of 120 x Section 106 units and provide a further 460 x housing units to Torus at additionality sites. While alternative offers were received, none were comparable with Castle Green Homes Limited’s proposal, which offered Torus three times the amount of additional affordable units via additionality sites compared to any other bid. Under Regulation 32(2)(b) of the Public Contract Regulations 2015, the contracting authority considers that the works can be supplied only by Castle Green Homes Limited, who hold exclusive rights of ownership over the additionality sites. Further, in accordance with Regulation 32(2)(b)(iii) in conducting a market test prior use of the negotiated procedure, the contracting authority considers that there has been no artificial narrowing down of the parameters of the procurement and that no reasonable alternative or substitute exists.