Land at Maygood Street N1

Description

Site Land at Maygood Street is council owned and, subject to consent from the Secretary of State for change of use from education, has potential for the development of new homes. The site is located on Maygood Street in the Barnsbury Ward. It is situated in a predominantly residential area next to the Old and New Barnsbury Estates and the Half Moon Crescent Estate. It has excellent transport links and access to local amenities which make is suitable for residential development. Scope The council is seeking a delivery partner to develop a planning compliant 100% housing scheme (50% affordable, 50% market) on the Maygood Street site. The council’s risk will be limited to the value of the land. The council seeks to ascertain if this opportunity is of interest to the market. Type of agreement The agreement will either be a Development Agreement or land transaction (Agreement to Lease Length of lease Length of lease will be 250 years. Estimated value Seeking to maximise a capital receipt for the land. The total scheme costs are estimated to be in the region of £60m. Procurement route Via open tender (Competitive Flexible Procedure) The contract will be procured using the competitive flexible procedure in a two-stage process comparable to the restricted procedure. The first stage will involve assessing organisations through a Procurement Selection Questionnaire (PSQ), with all submissions subject to minimum requirements as stated in the PSQ. The second stage will be an evaluation of tenders submitted by bidders who are selected at the PSQ stage. Site visits No site visits offered.