Section one: Contracting authority/entity
one.1) Name and addresses
Bolton Council
Town Hall, Victoria Square
BOLTON
BL1 1RU
Contact
Sarah Atherton
Telephone
+44 1204334111
Country
United Kingdom
Region code
UKD36 - Greater Manchester North West
Justification for not providing organisation identifier
Not on any register
Internet address(es)
Main address
one.4) Type of the contracting authority
Regional or local authority
one.5) Main activity
General public services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Farnworth Town Centre Development Scheme
Reference number
Q083
two.1.2) Main CPV code
- 45210000 - Building construction work
two.1.3) Type of contract
Works
two.1.4) Short description
The contracting authority is not awarding a contract. This is a 30 day VEAT Notice in respect of the proposed Farnworth Town Centre Development Scheme, due to commence on or around 3 July 2023.
Bolton Council intends to enter into an Option Agreement, with an annexed Buy Back Option and a Price and Overage Deed with Capital and Centric Cocoon Ltd. C&C for the planned regeneration development at Farnworth Town Centre.
two.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £28,200,000
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKD3 - Greater Manchester
two.2.4) Description of the procurement
The scheme is publicly funded through an agreed funding strategy comprising a combination of grant and loan financing from Bolton Council, Future High Street Funds, Brownfield funds, and lending from Greater Manchester Combined Authority ("GMCA").
Bolton Council intends to enter into an Option Agreement, with an annexed Buy Back Option and a Price & Overage Deed with Capital & Centric (Cocoon) Ltd. ("C&C") for the planned regeneration development at Farnworth Town Centre.
The Option Agreement places an obligation on Bolton Council to sell the land at Farnworth Town Centre to C&C should C&C exercise the option.
Should C&C exercise the option to buy the land, it can as the developer, develop the land in accordance with planning permission (subject to permitted variations) if it chooses to, but is not required to do so.
Bolton Council can exercise the Buy Back Option if;
i. The funding agreement with GMCA is not entered into in line with the agreed funding strategy; and/or
ii. A forward purchase agreement is not entered into in line with the agreed funding strategy; and/or
iii. There is, broadly, an insolvency event in relation to C&C; and/or
iv. Practical completion of the development is not reached within a certain timeframe.
The Price & Overage Deed allows for deferred consideration payable for the property to Bolton Council shortly after practical completion which will be secured by way of a charge.
two.2.11) Information about options
Options: No
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Award of a contract without prior publication of a call for competition in the cases listed below
- The procurement falls outside the scope of application of the regulations
Explanation:
Bolton Council considers that the contract with C&C for the regeneration development at Farnworth Town Centre falls outside the scope of Public Contract Regulations 2015 ("PCR 2015") as it is not a public works contract.
The site at Farnworth Town Centre has been fully vacant for twelve months and provides an opportunity for land disposal and development to regenerate the area. The development will include a varied mix of residential units and commercial units.
Whilst Bolton Council has set certain requirements in relation to any development that takes place, C&C is not required to develop the land at all. In any event, if C&C does develop the land, certain variations are permissible to the requirements.
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: No
Section five. Award of contract/concession
Contract No
Q083
Title
Farnworth Town Centre Development Scheme
A contract/lot is awarded: Yes
five.2) Award of contract/concession
five.2.1) Date of conclusion of the contract
30 May 2023
five.2.2) Information about tenders
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor/concessionaire
Capital & Centric (Cocoon) Limited
Capital & Centric, Phoenix, 72 Chapeltown Street
Manchester
M1 2EY
Country
United Kingdom
NUTS code
- UKD3 - Greater Manchester
Companies House
13742684
Internet address
https://www.capitalandcentric.com/
The contractor/concessionaire is an SME
Yes
five.2.4) Information on value of contract/lot/concession (excluding VAT)
Initial estimated total value of the contract/lot/concession: £28,200,000
Total value of the contract/lot/concession: £28,200,000
five.2.5) Information about subcontracting
The contract/lot/concession is likely to be subcontracted
Value or proportion likely to be subcontracted to third parties
Proportion: 30 %
Section six. Complementary information
six.3) Additional information
Contract Award Value: The total value of the Farnworth Town Centre development is £28.2m
Contract Award Date: It is expected that the contract award date will be 3 July 2023.
six.4) Procedures for review
six.4.1) Review body
High Court - Royal Courts of Justice
Strand, Holborn
London
WC2A 2LL
Telephone
+44 2079476000
Country
United Kingdom