Student Accommodation Contractual Joint Venture

Concepts

• contractual joint venture
• york
• finance and insurance
• new student accommodation construction project
• student accommodation
• preferred approach
• financial burden
• investment partner
• identification of the very best potential bidders
• best balance

Location

Description

The University is seeking an investment partner to co-fund a new student accommodation construction project in the city of York, North Yorkshire. As well as sharing the financial burden of investing in the project, the partner will share in the longer term income generated by this property. The preferred approach to funding the project is a Contractual Joint Venture (JV), which we consider provides the best balance between cost and benefit whilst remaining affordable and banking covenant compliant. However, this approach would depend upon identifying a suitable and capable partner to collaborate with us in delivering the project on terms to be determined through a competitive tender process. In order to achieve the best overall solution for our requirement, a Selection Questionnaire is first being issued. This is to facilitate the identification of the very best potential bidders, of which it is anticipated that no more than 5 will be invited to progress in the procurement process. Select bidders will then participate in a competitive dialogue, with strictly limited scope for negotiation. The majority of the tender specification will not be open to discussion, as the requirement, the design and contractor for the work are all well established. The only elements of the tender that will remain open to negotiation will be those which pertain to the amount of investment that the bidder wishes to contribute, the value of the return they expect to receive and the arrangements and timing for exiting the investment.

CPV Codes

• 66000000 - Financial and insurance services

Indicators

• Contract is suitable for VCOs.

Other Information

Plan for erection of 3-storey student accommodation with associated landscaping https://planningaccess.york.gov.uk/online-applications/applicationDetails.do?key... Copy of original PIN briefing document 0 - PIN briefing - Peppermill Court York St John University.docx Mutual confidentiality agreement 2 - YSJU Mutual Confidentiality Agreement v1.0.docx Copy of register of title 4 - Official Copy (Register) - NYK343041.PDF Copy of title plan 5 - Official Copy (Title Plan) - NYK343041.PDF YSJU Annual Report and Financial Statements 2021-22 7 - YSJU Annual Report and Financial Statements 2021-22.pdf Selection questionnaire (SQ) 1 - YSJU SQ v1.0.xlsx Draft version of the Joint Venture (JV) contract 6a - Joint Venture Agreement - ITPD version.docx Draft version of the schedules associated with the Joint Venture (JV) contract 6b - Joint Venture Agreement - ITPD version (Schedules).doc Draft version of the Invitation to Participate in Dialogue (ITPD) document 3 - YSJU ITPD DRAFT v1.0.docx