Notice Information
Notice Title
Farnworth Town Centre Development Scheme
Notice 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.
Lot Information
Lot 1
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.
Procurement Information
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.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-03d0ad
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/015423-2023
- Current Stage
- Award
- All Stages
- Award
Procurement Classification
- Notice Type
- Award Notice
- Procurement Type
- Standard
- Procurement Category
- Works
- Procurement Method
- Limited
- Procurement Method Details
- Award procedure without prior publication of a call for competition
- Tender Suitability
- Not specified
- Awardee Scale
- SME
Common Procurement Vocabulary (CPV)
- CPV Divisions
45 - Construction work
-
- CPV Codes
45210000 - Building construction work
Notice Value(s)
- Tender Value
- Not specified
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- £28,200,000 £10M-£100M
Notice Dates
- Publication Date
- 31 May 20232 years ago
- Submission Deadline
- Not specified
- Future Notice Date
- Not specified
- Award Date
- 29 May 20232 years ago
- Contract Period
- Not specified - Not specified
- Recurrence
- Not specified
Notice Status
- Tender Status
- Complete
- Lots Status
- Not Specified
- Awards Status
- Active
- Contracts Status
- Active
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- BOLTON COUNCIL
- Contact Name
- Sarah Atherton
- Contact Email
- sarah.atherton@bolton.gov.uk
- Contact Phone
- +44 1204334111
Buyer Location
- Locality
- BOLTON
- Postcode
- BL1 1RU
- Post Town
- Bolton
- Country
- England
-
- Major Region (ITL 1)
- TLD North West (England)
- Basic Region (ITL 2)
- TLD3 Greater Manchester
- Small Region (ITL 3)
- TLD36 Greater Manchester North West
- Delivery Location
- TLD3 Greater Manchester
-
- Local Authority
- Bolton
- Electoral Ward
- Queens Park & Central
- Westminster Constituency
- Bolton North East
Further Information
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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