Sale of Land at Telford Place, Crawley

Description

This Voluntary Ex-Ante Transparency (VEAT) notice relates to arrangements governed by a proposed contract for sale ("Sale Contract") and (subsequent Transfer) between (1) Crawley Borough Council ("the Council") and (2) Platinum Skies Crawley Limited ("the Developer") in respect of land owned by the Council at Telford Place, Crawley, RH10 1FG (the "Site") Land Registry Title Number WSX240015 and WSX68805) and an Agreement for Lease (and subsequent Lease) between (1) Platinum Skies Crawley Limited and (2) the Council in respect of the affordable rented units to be leased to the Council. This VEAT notice has been issued on the basis that such arrangements fall outside the remit of the Public Contracts Regulations 2015 and Directive 2014/24/EC for the reasons set out under section 11.2.4. Lot 1: The Council has agreed a sale of the Site to the Developer and the parties are now looking to enter into a Sale Contract which is subject to various conditions precedent being satisfied the main one being the Developer obtaining a satisfactory planning permission. Provided that the conditions precedents are satisfied (or waived) the Council will transfer the freehold ownership of the Site to the Developer. The Site is subject to a restriction which limits its development to affordable housing. The purchase price for the sale of the Site will be calculated by reference to a formula which is dependent on the planning permission being granted. The Sale Contract envisages the Developer obtaining the planning permission but does not impose any binding obligation on the Developer to develop the Site. The Parties are also intending to enter into an Agreement for Lease consecutively with the Sale Agreement which envisages the Council will purchase the affordable rent units from the Developer (under a Lease arrangement) once they have reached the stage of practical completion, to fulfil the Developer's obligations under a section 106 agreement to ensure affordable rent accommodation is included within the development, in addition to the affordable housing on the rest of the Site. The purchase price for the circa 95 affordable rented units (actual figure to be determined when planning permission is secured) the Council is intending to acquire is to be calculated in accordance with the formula set out in the Agreement for Lease. Various deposit payments will be made to the Developer upon different stages of construction being reached for the affordable rented units by way of reservation of the units. Total value of the procurement (excluding VAT): £300 to £330 per square foot gross internal area to be determined as per the formula set out in Agreement for Lease