Find a TenderAwarded without competition

Published 30 May 2023, 17:18 BST

Official UK procurement notice

Voluntary Ex Ante Transparency Notice (VEAT) - Farnworth Town Centre Development Scheme

Official notice

Authority: Bolton Council (Local council)

WorksAward procedure without prior publication of a call for competition

Sectors: Construction & Civil Engineering (45) Delivery: North West (UKD3)

Awarded value£28,200,000published contract · exc. VAT

Awarded 30 May 2023no call for competition

Awarded to Capital & Centric (Cocoon) Limited

What is being bought

Published requirement description

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.

CPV: Construction work

The lotProcurement structure

single lot · no lot value published

Lot #1The scheme is publicly funded through an agreed funding strategy comprising a…Awarded

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.

Delivery: North West

45000000 Construction work

Procedure terms & legal framework

From the official record

Procedure method: Award procedure without prior publication of a call for competition
Legal basis: CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category: Works
Notice status: Awarded without competition
Procurement threshold: Unspecified in notice
Regulatory regime: Standard
Commercial structure: Stand-alone contract (no framework)
Competition type: Direct award (no call for competition)
GPA / WTO covered: Unspecified in notice
Recurring procurement: Unspecified in notice
First published: 30 May 2023, 17:18 BST
Last source update: 30 May 2023, 17:18 BST
Authority reference: DN672415
FTS notice number: 2023/S 000-015310
Classification (CPV): Construction work
Delivery area: North West (UKD3)
Official registry OCID: ocds-h6vhtk-03d060 Find a Tender

Why no open competition: The procurement falls outside the scope of application of the directive
Published justification: Bolton 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.

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast

Awards 1

Awarded value £28,200,0001 contract exc. VAT

Bids received 1

Contracts signed 1latest 30 May 2023

Awarded to	Value	Date	Status
Capital & Centric (Cocoon) LimitedSME	£28,200,000 †	—	Awarded

Contracts

Voluntary Ex Ante Transparency Notice (VEAT) - Farnworth Town Centre Development Scheme · Capital & Centric (Cocoon) LimitedSME
Signed
30 May 2023
Value
£28,200,000
Status
active

Bid statistics published by the authority

Bids	SME	VCSE	Valid bid range
1bids	—	—	—

Contracting authority & participating public bodies

Bolton Council

Contracting authorityLocal CouncilRegional or local authorityGeneral public services 3rd Floor Bolton Town Hall, Victoria Square, Bolton, North West, BL1 1RUContact name, email, phone

Bidders & participating suppliers

1 commercial party on the notice

Capital & Centric (Cocoon) LimitedAwarded supplier13742684 Phoenix, 72 Chapeltown Street, Manchester, North West, M1 2EY

Official documents & specifications

Official links; attachments are not copied

No document links were published on the notice.