3 Thames Road Newham - residential Agreement for Lease

A Contract Award Notice
by LONDON BOROUGH OF NEWHAM

Source
Find a Tender
Type
Contract (Works)
Duration
not specified
Value
£105M
Sector
CONSTRUCTION
Published
23 Dec 2021
Delivery
not specified
Deadline
n/a

Concepts

Location

3 Thames Road, Royal Docks, Newham E16 2EZ

Geochart for 1 buyers and 3 suppliers

Description

The Contracting Authority proposes to enter into an Agreement for Lease with a developer and a proposed landowner under which, if the developer develops 161 residential units (comprising a mixture of private rent, discount market rent and London affordable rent units) at 3 Thames Road, Newham by an agreed longstop date, the Contracting Authority will take a 50-year lease of the property, with an agreement to purchase the reversion at the end of the lease term.

Total Quantity or Scope

Additional information: The total value of the procurement referred in 11.1.7 above does not take account of inflationary rent increases during the 50 year lease term.

Award Detail

1 R Blue Regen TR (London)
  • Reference: 032254-2021-1
  • Value: £104,950,000 [share]
  • Awarded to group of suppliers.
2 Reef Estates (London)
  • Reference: 032254-2021-1
  • Value: £104,950,000 [share]
  • Awarded to group of suppliers.
3 Pension Insurance Corporation (London)
  • Reference: 032254-2021-1
  • Value: £104,950,000 [share]
  • Awarded to group of suppliers.

Renewal Options

The Contracting Authority will have an option to purchase the freehold reversion from the landlord for £1, at the end of the 50-year term of the Lease. The landlord will also be able to require the Contracting Authority to purchase the freehold reversion for £1, at the end of the 50-year term of the Lease.

CPV Codes

  • 45211360 - Urban development construction work
  • 45211300 - Houses construction work
  • 45211340 - Multi-dwelling buildings construction work
  • 45211341 - Flats construction work
  • 45211350 - Multi-functional buildings construction work
  • 45215214 - Residential homes construction work

Indicators

  • Options are available.

Other Information

** PREVIEW NOTICE, please check Find a Tender for full details. **

Reference

Domains