Award

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 00:00

Award

13 Nov 2024 at 00:00

Tender

22 Apr 2024 at 00:00

Summary of the contracting process

The Development Bank of Wales has completed a procurement process under the title "The Provision of Legal Services to the Teesside Flexible Investment Fund" in the Economic affairs industry category. The procurement involves a legal panel appointed to support the Teesside Flexible Investment Fund (TFIF), which aims to facilitate business succession and property development projects in Teesside. This GBP 20 million Fund, established in April 2024, provides funding from GBP 250,000 to GBP 3,000,000 over a maximum five-year term. The procurement process has reached the Award stage, with the contract signed on 9th July 2024. The open procedure method was used, and the main procurement category is services. The procurement includes a call-off basis requirement for legal services when needed throughout the Fund's duration. The appointed suppliers include THE ENDEAVOUR PARTNERSHIP LLP, Muckle LLP, Square One Law LLP, and WARD HADAWAY LLP.

This tender presents significant opportunities for businesses specializing in legal services, especially those with expertise in succession investments and property development. The requirements include a physical presence in Tees Valley and demonstrable skills and technical ability in various legal aspects related to equity, loan agreements, property development, and associated legal documents. SMEs with relevant experience and a strategic approach to supporting economic growth in Teesside would be well-suited to compete. With the substantial financial backing and a clear focus on economic development and employment creation, businesses can leverage this procurement to expand their client base and contribute to significant regional projects.

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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.

Publication & Lifecycle

Open Contracting ID
ocds-kuma6s-140891
Publication Source
Sell2Wales
Latest Notice
https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=140891
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award 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 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
DEVELOPMENT BANK OF WALES
Contact Name
Not specified
Contact Email
procurement@developmentbank.wales
Contact Phone
+44 02920338100

Buyer Location

Locality
CARDIFF
Postcode
CF10 4BZ
Post Town
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

SQUARE ONE LAW

THE ENDEAVOUR PARTNERSHIP

WARD HADAWAY

Further Information

Notice Documents

  • https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=APR475477
    The Provision of Legal Services to the Teesside Flexible Investment Fund - 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
  • https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=NOV494473
    The Provision of Legal Services to the Teesside Flexible Investment Fund - 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
  • https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=JAN497254
    The Provision of Legal Services to the Teesside Flexible Investment Fund - 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

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