Section one: Contracting authority
one.1) Name and addresses
Suffolk County Council
Endeavour House, Russell Road
IPSWICH
IP1 2BX
martin.jennings@suffolk.gov.uk
Telephone
+44 1473260450
Country
United Kingdom
NUTS code
UKH14 - Suffolk
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
Joint Venture for Development of Multiple Sites in Suffolk
Reference number
CD1286
two.1.2) Main CPV code
- 70000000 - Real estate services
two.1.3) Type of contract
Services
two.1.4) Short description
Suffolk County Council (the Council) has the ambition of delivering residential development in Suffolk. In order to realise this ambition, the Council is seeking to procure a private sector partner ('PSP') with whom to establish a 50:50 joint venture ('JV') development vehicle.The JV will be responsible for delivering multiple residential development schemes throughout Suffolk. The Council will commit sites to the JV for development and may also provide funding via loans or equity contributions.It is anticipated that the PSP will provide funding and services to the JV. Such services may include (amongst others) construction services and development management services.Following development, individual residential units or development parcels will be marketed and sold. Profits from the JV will be distributed to the Council and the PSP based on their equity holdings.
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: £750,000,000
two.2) Description
two.2.2) Additional CPV code(s)
- 45000000 - Construction work
- 70120000 - Buying and selling of real estate
- 70332000 - Non-residential property services
- 71500000 - Construction-related services
- 70110000 - Development services of real estate
- 70331000 - Residential property services
- 70333000 - Housing services
two.2.3) Place of performance
NUTS codes
- UKH14 - Suffolk
Main site or place of performance
Suffolk
two.2.4) Description of the procurement
The Council has the ambition of delivering residential development in Suffolk, in order to promote economic development, enhance vitality, and secure new homes and facilities for local residents and businesses.The Council's overarching project vision is to deliver high quality development that supports a thriving county and that serves the needs of residents and businesses, including new community facilities and affordable housing, fostering a sense of local ownership.In order to realise these ambitions, the Council is seeking to procure a PSP with whom to establish a 50:50 JV development vehicle. The Council and the PSP's respective interests in the JV will be established through the procurement process, however it is envisaged that the members of the JV will each hold an equal equity interest and will jointly manage it and its assets.The Council's preferred legal and governance structure for the JV is set out in the draft Heads of Terms (that are available on the Portal). Through participating in the JV, the PSP will be responsible for helping the Council deliver its key objectives. These objectives are set out in full in the draft Heads of Terms.The Council will contribute a number of sites to the JV for development. The initial sites are North of Lowestoft Garden Village, West Mildenhall, Newmarket St Felix former middle school, West Row, and Bramford development sites (the 'Cat A Sites').The Council has also identified a number of subsequent sites which may come forward in the future. These sites are referred to as the 'Cat B Sites'. In addition, a number of yet unidentified sites that are currently (or may subsequently become) owned by the Council may be brought forward in the future (the 'Cat C Sites').Bidders should refer to the draft Heads of Terms and draft Invitation to Participate in Dialogue ('ITPD') for further information in relation to these sites. In addition to the development of the sites, the Council requires the right to call-off construction works and/or services from the JV, in relation to a number of potential developments on land that is currently or may subsequently become owned by the Council (the 'Community Facilities').The Council's proposed legal delivery structure for the Cat A Sites is set out in the draft Heads of Terms. The Council envisages that alternative arrangements may be required in respect of the Cat B Sites, Cat C Sites and for the development of any Community Facilities.The legal structure in the draft heads of terms is intended to provide sufficient flexibility to allow the Council and the PSP to decide upon the most appropriate delivery structure for future developments, taking into account any site-specific requirements at the relevant time. This may include:- sites being transferred by the Council to the JV (or a subsidiary of the JV) for development,- sites being retained by the Council, with the JV or the PSP providing construction services directly to the Council, or- alternative delivery arrangements being agreed between the Council/JV and PSP from time to time, in line with the governance mechanisms set out in the heads of terms.The Council envisages the PSP providing cash to the JV as an equity contribution with the Council's equity contribution being met through its land contributions. The Council also envisages the PSP providing pre-construction finance and other working capital by way of loans. The Council does, however, reserve the right to also contribute funding to the JV, whether by way of loan or further equity contributions. Additional debt financing will be sought from the markets.The Council anticipates the PSP providing a number of services to the JV and/or the Council which may include (but are not limited to) development management and/or construction services. The PSP will receive fees for the provision of these services based on incentivised targets
two.2.5) Award criteria
Price
two.2.11) Information about options
Options: Yes
Description of options
The Council anticipates discussing with Bidders, during the competitive dialogue procedure the possibility of being granted option(s) to extend the contract period in a number of periods up to an overall maximum extension of 10 years.
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
two.2.14) Additional information
The procurement will be conducted in accordance with the Public Contracts Regulations 2015 (as amended) and any applicable Procurement Policy Notices, using the competitive dialogue procedure as set out in Regulation 30 of the Public Contracts Regulations 2015.
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Competitive dialogue
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.1) Previous publication concerning this procedure
Notice number: 2021/S 000-004779
Section five. Award of contract
Contract No
CD1286
Title
Joint Venture for Development of Multiple Sites in Suffolk
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
14 July 2022
five.2.2) Information about tenders
Number of tenders received: 2
Number of tenders received from SMEs: 0
Number of tenders received from tenderers from other EU Member States: 0
Number of tenders received from tenderers from non-EU Member States: 0
Number of tenders received by electronic means: 2
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Lovell Partnerships Limited
London
Country
United Kingdom
NUTS code
- UKI - London
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Initial estimated total value of the contract/lot: £750,000,000
Total value of the contract/lot: £75,000,000
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
Royal Courts of Justice
Strand
London
WC2A 2LL
Country
United Kingdom