Section one: Contracting authority/entity
one.1) Name and addresses
London Legacy Development Corporation
5 Endeavour Square
London
E201JN
Contact
Brian Walsh
Country
United Kingdom
Region code
UK - United Kingdom
Justification for not providing organisation identifier
Not on any register
Internet address(es)
Main address
www.queenelizabetholympicpark.co.uk
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Other activity
Regeneration
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Stratford Waterfront and Bridgewater Modifications to Development Agreement
two.1.2) Main CPV code
- 45211360 - Urban development construction work
two.1.3) Type of contract
Works
two.1.4) Short description
Modifications to a Development Agreement for the development of the site known as Stratford Waterfront and Bridgewater residential developments.
two.1.6) Information about lots
This concession is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £600,000,000
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKI - London
two.2.4) Description of the procurement
Description of the procurement: London Legacy Development Corporation (LLDC) entered into a Development Agreement (DA) with Stratford East London Partners LLP (as Developer) and Trapol Limited on 26 July 2022 for the development of the sites known as Stratford Waterfront and Bridgewater Triangle in the Queen Elizabeth Olympic Park, Stratford, London. The parties entered into a deed of variation of the DA on 30 October 2024 to amend the timing and payment mechanisms for infrastructure works being delivered by the Developer at Bridgewater Triangle, and have entered into a further deed of variation of the DA and ancillary documents to incorporate various modifications including: (i) fixed land values for each site, and increased profit share for LLDC as member of the Developer; (ii) variation of milestones for Bridgewater Triangle infrastructure works to reflect the updated programme; (iii) extension of the longstop date for satisfaction of conditions (including relating to planning and vacant possession) and inclusion of Gateway 2 approval for each site as a milestone event; and (iv) to reflect a variation to the affordable housing viability review trigger in LLDC's unilateral undertaking for the Stratford Waterfront site.
two.2.5) Award criteria
Concession is awarded on the basis of the criteria described below:
- Criterion: N/A
two.2.7) Duration of the concession
Duration in months
240
Section four. Procedure
four.1) Description
four.1.1) Form of procedure
Award procedure without prior publication of a concession notice in the cases listed below
- The procurement falls outside the scope of application of the regulations
Explanation:
LLDC considers the modifications to be justified on the basis that (i) they are required as the result of unforeseeable circumstances (in particular changes to Building Regulations, which have caused significant increases in costs, as well as the unfavourable economic conditions); (ii) they do not alter the overall nature of the contract; and (iii) they do not increase the value of the overall contract by more than 50%. As a result, the modifications are permitted under Regulation 72(1)(c) of the Public Contracts Regulations 2015 (noting that those regulations continue to apply to contracts entered into pursuant to them) and no new procurement process is required. See section II.2.4
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: No
four.1.11) Main features of the award procedure
The procurement falls outside the scope of application of the Regulations. See explanation at Section II.2.4.
Section five. Award of concession
A concession/lot is awarded: Yes
five.2) Award of concession
five.2.1) Date of concession award decision
23 July 2025
five.2.2) Information about tenders
Number of tenders received: 1
The concession has been awarded to a group of economic operators: No
five.2.3) Name and address of the concessionaire
Ballymore Limited
London
Country
United Kingdom
NUTS code
- UKI - London
Companies House
04936525
The concessionaire is an SME
No
five.2.4) Information on value of concession and main financing terms (excluding VAT)
Initial estimated total value of the contract/lot/concession: £600,000,000
Total value of the concession/lot: £600,000,000
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
London Legacy Development Corporation
London
Country
United Kingdom