Description
The London Borough of Southwark ('the council') is seeking two development Partners ('Partner' or 'Partners') to fund, design, develop and undertake sales activity for two multi-site lots ('Lot A' and 'Lot B') within the Borough, via Development Agreements. The purpose is to work in partnership with the two Partners on the respective lots to deliver good quality and sustainable homes, with a key priority to maximise the numbers of affordable housing in each of the Lots. The sites forming the development programme are split across two Lots (with the Council appointing a different Partner for Lot A and Lot B each). Through the Development Agreements, the Council requires the two Partners to develop a package of sites in two distinct areas of the borough for each Lot, to deliver predominantly residential-led schemes with affordable housing and market housing (as well as potentially other buildings, structures and landscaping as required).
Applicants should note that a single pool of Pipeline Sites also falls within scope of the overall procurement. The Council reserves the right, at its sole discretion, to bring forward any or all of the Pipeline Sites in either Lot, and to offer those sites to the developer who has been successful in either Lot. There is a single pool of Pipeline Sites and Applicants should note that it remains at the Council's sole discretion to which (if any) of the Lots those Pipeline Sites may be offered. For the avoidance of doubt, there is no guarantee that any or all of the Pipeline Sites will be offered to either developer in either Lot A or Lot B during the course of the development programme. Where a developer is offered a Pipeline Site and the developer chooses to opt to include that Pipeline Site as part of the programme, the Pipeline Site will become subject to the terms of the Development Agreement. Taking forward any of the "Pipeline Sites" will be subject to council decision-making processes which have not yet been completed. This includes taking account of the outcomes of any resident ballots.
The estimated duration of the contract is for a term of six (6) years, with an option to extend at the Council's sole discretion by a further period of 4 years (subject to obtaining Council approval to such extension), giving a total possible contract term of 10 years.
The estimated value of Lot A excluding any pipeline sites is £128,857,182 (GDV)
The estimated value of Lot B excluding any pipeline sites is £135,442,064 (GDV)
The estimated value of the optional pipelines sites is £391,606,372 (GDV)
The estimated value of Lot A, B and Pipeline sites is £655,905,618 (GDV)