--- title: "Establishment of a Joint Venture Development Company" ocid: "ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3.json" source: "Contracts Finder" current_stage: "Tender" buyer: "THE BOROUGH COUNCIL OF PENDLE" published: "2021-08-12" --- # Establishment of a Joint Venture Development Company Buyer: THE BOROUGH COUNCIL OF PENDLE Current stage: Tender OCID: ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3.json) ## Summary 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. ## Notice 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. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/52ecd509-436f-4964-a720-ffb8f048a583 | | 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 | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 12 Aug 2021 | | Submission deadline | 13 Sep 2021 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 1 Jan 2022 - 31 Dec 2031 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £2,000,000,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | THE BOROUGH COUNCIL OF PENDLE | | Locality | NELSON | | Post town | Blackburn | | Postcode | BB9 7LG | | Country | England | | ITL 1 | TLD North West (England) | | ITL 2 | TLD4 Lancashire | | ITL 3 | TLD46 East Lancashire | | Local authority | Pendle | | Electoral ward | Bradley | | Westminster constituency | Pendle and Clitheroe | | 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) | ## CPV Codes ### Divisions - 45 - Construction work ### Codes - 45000000 - Construction work ## Release History - 12 Aug 2021 at 11:32 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/52ecd509-436f-4964-a720-ffb8f048a583 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/52ecd509-436f-4964-a720-ffb8f048a583 12th August 2021 - Opportunity notice on Contracts Finder - https://procontract.due-north.com/Advert/Index?advertId=b4fd5d0e-bdf9-eb11-810d-005056b64545 The Chest - Access this link for documents ## Notice URLs - https://www.pendle.gov.uk/ ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-0db6f63c-c4f9-4ec7-8846-1679d0e0f8f3.json.