Prior information notice
This notice is for prior information only
Section I: Contracting authority
I.1)Name and addresses
I.4)Type of the contracting authority
Section II: Object
II.1)Scope of the procurement
Wirral Growth Company — Property/Asset JV.
II.1.2)Main CPV code
II.1.3)Type of contract
Wirral Council intends to invite soft market testing responses from companies / organisations with expertise and capability relating to property development and asset maximisation. The procurement is planned to commence in May 2017.
The Council is seeking a partner to join with the Council for a long term (up to 20 years) joint venture and to create a property vehicle (Wirral Growth Company), probably a company or Limited Liability Partnership, to secure the investment, skills and expertise to deliver Wirral's regeneration and Council asset transformation strategy.
The Council will be attending MIPIM Cannes 2017 to explore opportunities with potential partners, which will inform the development of the solution to be procured. Information is available at: www.wirralwellmade.com and expressions of interest to participate in this and any forthcoming soft market testing opportunities and events can be registered by email to: firstname.lastname@example.org.
II.1.5)Estimated total value
II.1.6)Information about lots
II.2.2)Additional CPV code(s)
II.2.3)Place of performance
II.2.4)Description of the procurement:
This project will utilise the Council's assets to drive socio-economic change and maximise the Council's financial return from the disposal of its land and property assets (with a preference to generate secure revenue income streams). The model used is likely to be a joint venture property company (Wirral Growth Company). The property vehicle could take a number of forms and could include a Group structure to ensure that individual developments are facilitated in the most appropriate legal form.
In order to design the procurement, the Council will explore various issues during a soft market testing exercise, including the legal form/structure of the joint venture vehicle (e.g. a company or LLP), the optimum duration of programme, the likely value of the opportunity to the market, the operation and governance of the joint venture, due diligence requirements and the most appropriate procurement procedure. Continues VI.4.3 below.
Please note additional information for this project can be obtained from www.wirralwellmade.com
II.3)Estimated date of publication of contract notice:
Section IV: Procedure
IV.1.8)Information about the Government Procurement Agreement (GPA)
Section VI: Complementary information
The opportunity is a major regeneration and development project to deliver new (or improvements to) office and business developments; retail and leisure developments; infrastructure; housing and residential accommodation; community facilities and to develop the area to encourage businesses to invest in Wirral.
Estimated value range of the eventual procurement may be in the range of: 500 000 000 GBP to 1 000 000 000 GBP (five hundred million to one billion pounds). The estimated value stated on this PIN relates to the estimated gross development value in the market of the developed assets
Please see the MOI for the types of issues the council is seeking to evaluate during soft market testing, when it will test the viability of commercial models to explore possibilities and solutions.
Please see VI.4.3 below for more information.
[The JV may have the flexibility to hold and manage assets for long-term revenue streams which will be explored during the soft market testing phase].
VI.5)Date of dispatch of this notice: