Multi-level Industrial Development

Concepts

• construction work
• glap
• industrial development
• industrial site
• multi-level industrial development
• logistics development
• new multi-storey industrial development
• development of this site
• multi-storey
• local economic development benefits

Location

London:

Description

75 Bugsby's Way is a 3.38- acre industrial site on the Greenwich Peninsula, with excellent links to central London and from the M25. It is owned by Greater London Authority Land and Property (GLAP). The site has significant potential for intensive industrial/logistics development that is expected to attract a variety of businesses and provide employment opportunities to the local community. GLA Land & Property (GLAP) is a subsidiary company of the Greater London Authority, formed in 2012, it is one of the largest public sector landowners in London. The GLA is undertaking a procurement for the development of this site as part of the Mayor's plans to regenerate the Greenwich Peninsula. The successful developer will negotiate a 250-year leasehold to the land and enter into an agreement with GLAP to design, develop and build a new multi-storey industrial development. The successful developer will then need to find tenants to generate a return.

Total Quantity or Scope

The key objectives of the procurement include: - The development of a multi-level industrial/logistics scheme with a wide range of unit sizes/types, including SME space; - The production of a façade design that is reflective of the innovative nature of the building; - sustainability, both during and after construction; - achieving commercial value for the site; and - meeting prospective occupiers' demands; - achieving local economic development benefits The successful developer will own a 250-year leasehold to the land and enter into an agreement with GLAP to design, develop, and build a multi-storey industrial/logistics development. Responsibility for attaining planning consent will lie with the successful developer. The successful developer will be required to provide a fixed payment of at least 50% of the total value as a lump sum upon practical completion. The remaining value will be due as a variable payment to be paid within five years of practical completion. The mechanism for calculating the variable payment and the date when it is due will be agreed between the parties.

CPV Codes

• 45000000 - Construction work
• 70000000 - Real estate services
• 71000000 - Architectural, construction, engineering and inspection services

Indicators

• This is a one-off contract (no recurrence)
• Renewals are not available.

Other Information

** PREVIEW NOTICE, please check Find a Tender for full details. ** The GLA intends to conduct a multi-stage procurement procedure with the option of reducing the number of tenderers to continue negotiations at each stage. Award criteria and further procurement documents will be provided by the commencement of the tender & negotiation stages to bidders shortlisted to participate. Expressions of interest must be by way of completion and return of the selection questionnaire (SQ) (in accordance with the requirements set out in the SQ by the time limit in Section IV.2.2 above). The estimated values in II.1.5 represent the maximum potential gross development value to the developer. However, potential returns will depend on many commercial factors including (but not limited to) the performance of the developer and market conditions. Bidders should seek independent legal and commercial advice in relation to the potential value of the opportunity.