Barnet - Grahame Park North East Joint Venture Partner Procurement

London Borough of Barnet (LBB) as landowner is seeking to select a private sector partner to form a 50/50 corporate joint venture (JV) to deliver the residential redevelopment of Grahame Park North East (GPNE), Colindale. The JV is anticipated to be a limited liability partnership. Barnet Homes (BH) will be lead the procurement process, as development agent on behalf of LBB. LBB is the contracting authority and will be the party to the JV.

The intention is that the JV will initially redevelop the northern half of GPNE (Phase 1) and draw down the southern half (Phase 2) following satisfactory delivery of Phase 1.

Subject to satisfactory progress at GPNE, LBB may also make available to the JV further opportunities in the borough of Barnet. At present these may include an estate known as Silk House and Shoelands Court (strictly subject to resident and stakeholder consultation), possibly with a wider area subject to site assembly; and potentially a further site comprising an estate regeneration and a shopping centre in multiple ownerships, which is much more contingent but a possible long-term opportunity. It is recognised that there may be other opportunities for the JV to develop sites other than GPNE and the additional sites. These may be owned by LBB, the private sector partner, or a third party. The draft Contracts will contain a process to enable the JV to consider such opportunities and where approved, acquire any future sites.

To date BH has progressed the design to RIBA Stage 2a and completed initial community engagement.

In Phase 1, 136 are general needs rented homes, owned and managed by BH, and 20 are leasehold, totalling 156. BH will manage the rehousing process, providing close support to existing tenants which is expected to start in early 2024. Existing residents will have priority for the replacement social rent homes.

The partner will work collaboratively across all elements of design, planning and construction to deliver high quality, private sale and affordable residential development, a new community centre and financial returns. This includes reprovided and additional affordable homes.

It is proposed that JV partner enters into a Pre-Construction Services Agreement at preferred bidder stage to enable mobilisation and to input into the planning application. LBB will submit the planning application.

The phased construction process will start at the earliest opportunity after planning consent, subject to decant. It is anticipated the partner will utilise its established supply chains to manage cost, de-risk construction and ensure quality throughout the construction process and for the sale of open market units.

It is anticipated the partner will draw on internal expertise to provide development management, project management, construction management, sales, marketing, accounting and administration services to the JV at a reasonable and proportionate cost.

The partner is expected to be a private sector residential developer with significant expertise in working in JV partnership with public sector or affordable housing partners to design and deliver high quality, flatted mixed tenure developments.

The partner will be required to leverage experience, expertise, funding and development services to deliver the project. Partners should have sufficient capacity to commence a design review leading into scheme delivery immediately on the set-up of the JV. To be able to maximise the opportunity commercially, partners should have detailed knowledge of London residential markets at the appropriate price point for GPNE.

Application of this knowledge will allow the partner to maximise returns in terms of design, specification, marketing and sales. LBB will require the partner to have a good understanding of the complexities this brings. Key here is confidence gained from experience in working closely with existing residents throughout the development process. Additional information: The estimated value of 145m GBP in this notice relates to Phase 1 only and does not include Phase 2 or further sites. The value of Phase 2 is currently estimated at 125m GBP. If further sites are brought into the joint venture, the value set out in this notice would increase. The contract end date in this notice relates to Phase 1 only. The end date for Phase 2 awaits confirmation.