Union Place, Worthing - commercial joint venture agreement including conditional transfer of land to enable residential-led, mixed-use development as a two-phase scheme.

Published

16 October 2023

Estimated value

£52,000,000

Place of performance

UKK

Procedure

Direct award

Lots

1

Notice number

030519-2023

Reference

ocds-h6vhtk-040c79

Official source

Official source

CPV codes

• 45000000Construction work
• 70120000Buying and selling of real estate

Description

The Contracting Authority (CA) proposes to enter into a limited liability partnership (or other similar joint venture) (JVA) agreement with Roffey Homes Limited (JVPartner), under which both parties will establish and become members of a limited liability partnership (LLP). The Contracting Authority proposes to transfer land into the LLP. Subject to satisfactory planning permission for residential-led, mixed use development having been obtained, and to satisfying certain conditions precedent, and if JVPartner carries out the development, the LLP will dispose of/sell the developed land, and distribute the resulting sales proceeds in accordance with the LLP members' agreement.

Awards

Official publications

• FTS · 030519-2023 · 16 October 2023

Frequently asked questions

What is the estimated value of this tender?

The estimated value published by the buyer is £52,000,000.

Who is the buyer of this tender?

The contracting authority is WORTHING BOROUGH COUNCIL (United Kingdom).

How can I bid for public tenders in the United Kingdom?

Bids are submitted through the official public procurement portal in the United Kingdom. El Vínculo helps you find tenders and analyse their documents; submission always happens at the official source.