Tender

Establishment of a Joint Venture Development Company

THE BOROUGH COUNCIL OF PENDLE

This public procurement record has 1 release in its history.

Tender

12 Aug 2021 at 11:32

Tender Notice
Summary of the contracting process

The Borough Council of Pendle is initiating a tender for the establishment of a Joint Venture Development Company with a private sector organisation or consortium, aimed at fostering regeneration and economic growth in the Borough of Pendle. This procurement falls within the construction industry and is currently in the planning stage. The tender was published on 12th August 2021, with the submission deadline set for 13th September 2021. The project has an estimated total value of £2 billion, with a minimum contract value of £150 million. The planned contract period will commence on 1st January 2022 and extend for a duration of 15 years.

This tender presents significant opportunities for private sector companies experienced in regeneration and economic development projects, particularly those capable of comprehensive design and construction services. Businesses that can demonstrate financial capacity to invest in the joint venture and leverage additional public and private sector funding will be particularly well-suited to compete. Firms operating in the construction sector, especially those with a proven track record in delivering large-scale projects within the UK, are encouraged to engage in this opportunity to support the revitalisation of Nelson and the wider region.

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Notice Information

Notice Title

Establishment of a Joint Venture Development Company

Notice Description

The Borough Council of Pendle (The Council) is seeking to establish a long term partnership through the creation of a Joint Venture Development Company (JV) with a private sector organisation or consortium to contribute to the regeneration and economic growth of the Borough of Pendle. It is envisaged that the Council will, where it is applicable and at the agreement of both partners, transfer sites to the JV for development at an independently assessed value. The initial development opportunities will be in Nelson, in particular the delivery of projects arising from Nelson Town Deal www.nelsontowndeal.co.uk. A Town Investment Plan was submitted in February 2021 to the Ministry of Housing, Communities and Local Government seeking PS29.9m of investment with the intention that this would lever in a further PS40m from public and private sector sources. A Heads of Terms offer for PS25m has now been received and the Council and Town Deal Board are undertaking a process of reviewing the projects in line with the reduced funding. It is the intention of the Council to work in partnership with the selected development partner to identify further sites or buildings, either in the Council's ownership, other public sector ownership, or in private ownership, for development across the Borough over the term of the appointment. The Council expects that the private sector development partner in the JV will be experienced in undertaking a range of regeneration and economic development projects and be capable of offering full design, specification and delivery. Fundamental to the Council's requirements is that the development partner is capable of investing in the JV to complement the Council's investment and facilitate the draw down of funding, both from the public and private sector, to provide the financial capacity for projects. The entire term of the contract is 15 years, split into an 10 year initial period plus an option to extend for a further period of 5 years.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/52ecd509-436f-4964-a720-ffb8f048a583
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Works
Procurement Method
Selective
Procurement Method Details
Negotiated procedure
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

45 - Construction work

CPV Codes

45000000 - Construction work

Notice Value(s)

Tender Value
£2,000,000,000 £1B-£10B
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
12 Aug 20214 years ago
Submission Deadline
13 Sep 2021Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Jan 2022 - 31 Dec 2031 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
THE BOROUGH COUNCIL OF PENDLE
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
NELSON
Postcode
BB9 7LG
Post Town
Blackburn
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD4 Lancashire
Small Region (ITL 3)
TLD46 East Lancashire
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
Pendle
Electoral Ward
Bradley
Westminster Constituency
Pendle and Clitheroe

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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