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Official procurement procedure

Farnworth Town Centre Development Scheme

Building construction work
North West (UKD3)
Published value
Not published
Submission deadline Not published
Lots published1
Procurement Executive Summary
AI & Search Synopsis
Generated from official OCDS record
Tenderline Synopsis: Bolton Council: "Farnworth Town Centre Development Scheme". Published status: complete. Published value: Value not published. 1 published lot. Submission deadline not published. See the official notice for participation instructions.
Contracting AuthorityBolton CouncilScope & CategoriesNot publishedSubmission Window
complete
No deadline published
Submission GatewayDirect notice routeLegal Basis & RegimeStandard procurementEstimated Value (exc. VAT)Not published
Bidder Intelligence · Authority Profile: Bolton Council
Market Analytics
View Authority Profile →
Derived from OCDS awards & bid statistics
Published history for Bolton Council. These figures describe retained records, not a forecast of bids or a measure of buyer bias.
Average Price Reduction
Not availableInsufficient comparable data
Requires at least 5 comparable procedures
Competition Density
Not availableNo published reports
Bid counts are not published for this buyer
Supplier ConcentrationNo estimate
Insufficient attributable awardsNo concentration estimate available
Payment Terms
Check noticePublished terms
Payment obligations depend on the applicable regime and contract. Consult the official documents.
Coverage: 1 active published awards; 0 bid reports (which may be per lot). Supplier values exclude multi-supplier awards, frameworks and DPS, and use GBP only. They are published award values, not payments. Price reduction compares single-lot, single-award, single-supplier GBP procedures with explicitly non-framework/non-DPS status; increases remain in the average. Unpublished data stays unknown. Awarded suppliers are winners, not all bidders.
Procedure terms
Contracting AuthorityBolton Council
Procedure methodNot published
Procurement categoryNot published
Statuscomplete
Framework / DPSNot published
CompetitionNot published
Above thresholdNot published
Legal basisNot published
Tender period startsNot published
Clarification deadlineNot published
Electronic submissionNot published
Submission languagesNot published
Published31 May 2023, 15:06 BST
Last source update31 May 2023, 15:06 BST
Recurring procurementNot published
ClassificationBuilding construction work
Delivery area
North West (UKD3)
OCIDocds-h6vhtk-03d0ad
What is being bought
The contracting authority is not awarding a contract. This is a 30 day VEAT Notice in respect of the proposed Farnworth Town Centre Development Scheme, due to commence on or around 3 July 2023. Bolton Council intends to enter into an Option Agreement, with an annexed Buy Back Option and a Price and Overage Deed with Capital and Centric Cocoon Ltd. C&C for the planned regeneration development at Farnworth Town Centre.
What changed
From the official release history
  1. Status changed to complete
    31 May 2023, 15:06 BST
  2. Official notice release published
    31 May 2023, 15:06 BST
  3. Buyer information updated
    31 May 2023, 15:06 BST
Lots and requirements (1)
Published by the contracting authority
  • Lot 1 · #1
    Individual lot title not published
    Status not published
    Published valueNot published
    The scheme is publicly funded through an agreed funding strategy comprising a combination of grant and loan financing from Bolton Council, Future High Street Funds, Brownfield funds, and lending from Greater Manchester Combined Authority ("GMCA"). Bolton Council intends to enter into an Option Agreement, with an annexed Buy Back Option and a Price & Overage Deed with Capital & Centric (Cocoon) Ltd. ("C&C") for the planned regeneration development at Farnworth Town Centre. The Option Agreement places an obligation on Bolton Council to sell the land at Farnworth Town Centre to C&C should C&C exercise the option. Should C&C exercise the option to buy the land, it can as the developer, develop the land in accordance with planning permission (subject to permitted variations) if it chooses to, but is not required to do so. Bolton Council can exercise the Buy Back Option if; i. The funding agreement with GMCA is not entered into in line with the agreed funding strategy; and/or ii. A forward purchase agreement is not entered into in line with the agreed funding strategy; and/or iii. There is, broadly, an insolvency event in relation to C&C; and/or iv. Practical completion of the development is not reached within a certain timeframe. The Price & Overage Deed allows for deferred consideration payable for the property to Bolton Council shortly after practical completion which will be secured by way of a charge.
    Contract periodNot published
    EligibilityNot published
    Options / renewalNot published
Timeline
  1. Procedure published
    31 May 2023, 15:06 BST
  2. Award active
    Not published · Not published
  3. Contract active
    Signed 30 May 2023, 00:00 BST · £28,200,000
Commercial outcome and competition
Awards
Capital & Centric (Cocoon) Limited
Not published · Not published · active
Contracts
Farnworth Town Centre Development Scheme
£28,200,000 · signed 30 May 2023, 00:00 BST · active
Bid statisticsNo aggregate bid statistics published
Buyer and organisations in this procedure

Bolton Council

Contracting authority GB-FTS-84094
View buyer profile

  • Bolton Council
    buyer

    Town Hall, Victoria Square, BOLTON, UKD36, BL1 1RU
    sarah.atherton@bolton.gov.uk
    +44 1204334111

  • Capital & Centric (Cocoon) Limited
    supplier

    GB-COH: 13742684
    Capital & Centric, Phoenix, 72 Chapeltown Street, Manchester, UKD3, M1 2EY

  • High Court - Royal Courts of Justice
    reviewBody

    Strand, Holborn, London, WC2A 2LL
    +44 2079476000
Documents (0)
Official links; attachments are not copied
No data
No linked documents are published
Related procedures (0)
No data
No related procedures published
Planning and rationale
Planning budgetNot published
No-engagement rationaleNot published
Procedure rationaleBolton Council considers that the contract with C&C for the regeneration development at Farnworth Town Centre falls outside the scope of Public Contract Regulations 2015 ("PCR 2015") as it is not a public works contract. The site at Farnworth Town Centre has been fully vacant for twelve months and provides an opportunity for land disposal and development to regenerate the area. The development will include a varied mix of residential units and commercial units. Whilst Bolton Council has set certain requirements in relation to any development that takes place, C&C is not required to develop the land at all. In any event, if C&C does develop the land, certain variations are permissible to the requirements.