Award

Forward Funding Agreement

WARRINGTON BOROUGH COUNCIL

This public procurement record has 1 release in its history.

Award

23 Nov 2020 at 17:31

Award Notice
Summary of the contracting process

Warrington Borough Council has awarded a contract titled "Forward Funding Agreement" for construction work under the CPV classification of 45000000. This procurement process is located in the North West region of the United Kingdom and was initiated through a limited procurement method, specifically a negotiated agreement without a call for competition. The contract, amounting to £112,600,000, is set to commence on 12 November 2020 and will run until 11 November 2022. The tender period concluded on 2 October 2020, preceding the award announcement on 23 October 2020.

This contract presents significant growth opportunities for businesses in the construction and property development sectors, particularly those that specialise in large-scale projects or office accommodations. Companies capable of providing expertise in collaborative development processes, especially those with experience in long-term leasing agreements, will find themselves well-suited to compete in similar future tenders. As the exclusive rights are held by ECF (General Partner) Limited to undertake this project, businesses might also explore partnerships or sub-contracting opportunities to leverage their services in collaboration with the awarded party.

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Notice Information

Notice Title

Forward Funding Agreement

Notice Description

On 12 November 2020 Warrington Borough Council entered a Forward Funding Agreement (FFA) with English Cities Fund (acting by its General Partner, ECf (General Partner) Limited) (Developer) in respect of a site currently owned by the City Council of Salford (the "Landowner") known as Plot B7 New Bailey Square, New Bailey, Salford ("Site"). Once developed the Site will comprise new Grade A office accommodation of approximately 175,592 sq ft NIA (the "Development") which shall be leased to a commercial tenant for a 20 year period from completion. The Site forms part of a wider development area known as "New Bailey" which has been developed on an exclusive basis by the Developer pursuant to an underlying Development Agreement dated 15th December 2006 between the Developer and the Landowner ("Development Agreement"). Under the terms of the Development Agreement only the Developer can bring the Site forward for the Development and the Landowner cannot deal with any developer other than the Developer. The Development Agreement is due to expire in December 2026. Under the terms of the Development Agreement the Developer has an exclusive right to put forward a "development proposal" in respect of the land forming the wider development area, New Bailey and if approved by the Landowner, develop New Bailey on a phased basis during the term of the Development Agreement (unless terminated earlier). The Developer has subsequently brought forward the Site for development and has agreed with WBC that the latter shall fund and acquire the Site upon completion. No-one other than ECF can do this, and the Council cannot deal with any other developer other than ECF. The FFA was entered into at the same time as an Agreement for Lease (AfL) between WBC, the Landowner and the Developer for the grant of a 250 year headlease once the development process for the Site is concluded under the Development Agreement and the land is drawn down for the purposes of the Development. At this point the FFA will become unconditional and the Developer shall have a contractual obligation to carry out the Development in accordance with the requirements of the FFA (the Works). The AfL is conditional upon a corresponding Agreement for Underlease (AfUL) between the Developer and a commercial tenant (Tenant) who will enter into an occupational lease upon completion of the Development. It is under the AfUL that any detailed design is developed by the Developer and approved by the Tenant. Those Works have not been specified by WBC nor has WBC had nor will it have under the terms of the FFA any decisive influence over the design of those Works.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-56675742-4985-48f7-9529-60bde2ada502
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/6abae317-91ad-45c1-85a8-31940524f801
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Works
Procurement Method
Limited
Procurement Method Details
Negotiated without a call for competition
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

45 - Construction work

CPV Codes

45000000 - Construction work

Notice Value(s)

Tender Value
£112,600,000 £100M-£1B
Lots Value
Not specified
Awards Value
£112,600,000 £100M-£1B
Contracts Value
Not specified

Notice Dates

Publication Date
23 Nov 20205 years ago
Submission Deadline
2 Oct 2020Expired
Future Notice Date
Not specified
Award Date
22 Oct 20205 years ago
Contract Period
12 Nov 2020 - 11 Nov 2022 1-2 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
WARRINGTON BOROUGH COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
WARRINGTON
Postcode
WA1 2NT
Post Town
Warrington
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD6 Cheshire
Small Region (ITL 3)
TLD61 Warrington
Delivery Location
TLD North West (England)
Local Authority
Warrington
Electoral Ward
Bewsey and Whitecross
Westminster Constituency
Warrington South

Supplier Information

Number of Suppliers
1
Supplier Name

ECF (GENERAL PARTNER

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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