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The Provision of Legal Services to the Teesside Flexible Investment Fund

Development Bank of Wales

This public procurement record has 3 releases in its history.

Award

22 Jan 2025 at 16:20

Award Notice
Award

13 Nov 2024 at 08:45

Award Notice
Tender

22 Apr 2024 at 16:45

Tender Notice
Summary of the contracting process

The Development Bank of Wales is seeking to appoint a legal panel for the Teesside Flexible Investment Fund (TFIF) through an open procurement process. The tender, titled "The Provision of Legal Services to the Teesside Flexible Investment Fund," falls under the services category with a specific focus on legal services (CPV code: 79100000). The fund, established with GBP 20 million from the Teesside Pension Fund, aims to support business succession and property development projects in Teesside. Firms interested in this opportunity must have a presence in the Tees Valley and demonstrate experience in both succession and property development investments. The tender period ends on 24 May 2024, and all submissions should follow the open procedure method detailed in the Invitation to Tender.

This tender offers significant growth opportunities for legal firms, especially those with expertise in succession investments and property development. Small and medium-sized enterprises (SMEs) and larger firms that can demonstrate sufficient resources, relevant skills, and technical abilities are encouraged to participate. The successful legal panel will be appointed on a call-off basis and expected to support the TFIF over its five-year term, fostering local economic growth and employment. The panel will be instrumental in ensuring the fund's successful delivery, underpinning substantial projects in the region, and positioning themselves as key legal advisors in Teesside's economic development initiatives.

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Notice Information

Notice Title

The Provision of Legal Services to the Teesside Flexible Investment Fund

Notice Description

Teesside Flexible Investment Fund The Teesside Flexible Investment Fund ("TFIF") is a GBP20m fund established in April 2024 with financial support from the Teesside Pension Fund to facilitate the delivery of business succession and property development projects in Teesside that support economic growth and create employment. The fund can also facilitate the delivery of contracts, although this is outside of the scope of this procurement. The fund can provide funding from GBP250,000 to GBP3,000,000 over a maximum five (5) year term. 2.4 FWC as Fund Managers of the TFIF, are seeking to appoint an experienced legal panel on a call off basis to be utilised as and when required to support the role out of the fund. Further information can be obtained from the Invitation to Tender

Lot Information

Lot 1

Requirements for the contract include: Firms must have a physical presence in Tees Valley; - Firms must be able to demonstrate they have the relevant skills, technical ability, and experience to advise on all aspects of succession investments including but not limited to: - Equity, equity option and loan agreements & associated documents. - Debentures. - Legal charges. - Deeds Of Priority and Intercreditor Agreements. - Personal and corporate guarantees. - Articles of Association and Shareholder Agreements. - Service Agreements. - Transfer of IP and other assets, assignment of contracts. - Share transfers. - Companies House documentation. - Firms must be able to demonstrate they have the relevant skills, technical ability, and experience to advise on all aspects of property development investments including but not limited to: - Legal charges over land and property. - Report on Title. - Build Contracts. - Collateral Warranties. - Leases, pre-sale, and pre-let agreements. - Firms must be able to demonstrate they have sufficient resources in place to deliver the Services in a timely manner and that they represent good value for money for the Services delivered. - Firms must be able to demonstrate how they can add value to the Fund Manager in the delivery of the TFIF over its lifetime. Further information can be found within the Invitation to Tender.

Renewal: The panel will be in place for an initial two (2) years with the option for FWC to make up to four (4) further extensions of twenty four (24) months each.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-045435
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/002284-2025
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79100000 - Legal services

79111000 - Legal advisory services

79140000 - Legal advisory and information services

Notice Value(s)

Tender Value
£310,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£300,000 £100K-£500K

Notice Dates

Publication Date
22 Jan 20251 years ago
Submission Deadline
24 May 2024Expired
Future Notice Date
Not specified
Award Date
2 Jul 20242 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Development Bank of Wales
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
CARDIFF
Postcode
CF10 4BZ
Postcode Area
Cardiff
Country
Wales
Major Region (ITL 1)
TLL Wales
Basic Region (ITL 2)
TLL5 South East Wales
Small Region (ITL 3)
TLL52 Cardiff and Vale of Glamorgan
Delivery Location
TLC1 Tees Valley and Durham
Local Authority
Cardiff
Electoral Ward
Butetown
Westminster Constituency
Cardiff South and Penarth

Supplier Information

Number of Suppliers
4
Supplier Names

Muckle LLP

Square One Law LLP

THE ENDEAVOUR PARTNERSHIP LLP

WARD HADAWAY LLP

Further Information

Open Contracting Data Standard (OCDS)

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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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