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The agreement relates to the development of the land at 55 Morning Lane in Hackney, London, E9 6ND, UK (the Site). The Council will purchase the freehold interest in the Site from Tesco Stores Limited (Vendor) and grant to Hackney Walk Limited ...

Voluntary ex ante transparency notice

Works

Directive 2014/24/EU

Section I: Contracting authority/entity

I.1)Name and addresses
London Borough of Hackney
The Town Hall, Mare Street
London
E8 1EA
United Kingdom
Contact person: Yinka Owa
E-mail:
NUTS code: UKI

Internet address(es):

Main address: http://www.hackney.gov.uk

I.4)Type of the contracting authority
Regional or local authority
I.5)Main activity
General public services

Section II: Object

II.1)Scope of the procurement
II.1.1)Title:

Morning Lane development.

II.1.2)Main CPV code
45000000
II.1.3)Type of contract
Works
II.1.4)Short description:

The agreement relates to the development of the land at 55 Morning Lane in Hackney, London, E9 6ND, UK (the Site). The Council will purchase the freehold interest in the Site from Tesco Stores Limited (Vendor) and grant to Hackney Walk Limited (Purchaser) a call option in consideration of the total maximum potential estimated value of 53 750 000 GBP to purchase a long leasehold interest. The Purchaser will have a choice to exercise the option and to redevelop the Site. The Council will not be commissioning any works.

II.1.6)Information about lots
This contract is divided into lots: no
II.1.7)Total value of the procurement (excluding VAT)
Value excluding VAT: 253 750 000.00 GBP
II.2)Description
II.2.1)Title:
II.2.2)Additional CPV code(s)
II.2.3)Place of performance
NUTS code: UKI
II.2.4)Description of the procurement:

The Council is not commissioning any works. The Council will buy the freehold interest in the Site from the Vendor, grant a lease of the current store to the Vendor and grant to the Purchaser a call option to purchase a long leasehold interest in the Site. The call option may be exercised by the Purchaser for a period up to 5 years extendible by a further 3 years with a total maximum potential estimated value payable by the Purchaser to the Council of 53 750 000 GBP. The Purchaser will have the option to redevelop the Site and provide a replacement Tesco store and associated car parking. In the event the Purchaser opts to redevelop the site then the total aggregate currently estimated value of the Purchaser's works project is circa 200 000 000. However, there will be no legal obligation on the Purchaser to develop the land unless and until the option is exercised, and no obligation to purchase the leasehold interest.

II.2.5)Award criteria
II.2.11)Information about options
Options: no
II.2.13)Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds: no
II.2.14)Additional information

Section IV: Procedure

IV.1)Description
IV.1.1)Type of procedure
Award of a contract without prior publication of a call for competition in the Official Journal of the European Union in the cases listed below
  • The procurement falls outside the scope of application of the directive
Explanation:

These are contracts for the acquisition and subsequent disposal of an interest in land and therefore do not come within the ambit of the Public Contracts Regulations 2015. The transaction with the Purchaser will consist of an option and there will be no enforceable obligations to undertake works and hence does not constitute a public works or a public works concession contract. The purchase transaction with the Vendor is exempt from the Public Contracts Regulations 2015 under Regulation 10(1)(a).

IV.1.3)Information about framework agreement
IV.1.8)Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: no
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure

Section V: Award of contract/concession

V.2)Award of contract/concession
V.2.1)Date of conclusion of the contract/concession award decision:
23/01/2017
V.2.2)Information about tenders
The contract has been awarded to a group of economic operators: no
V.2.3)Name and address of the contractor/concessionaire
Hackney Walk Limited
12 Park Mount
Harpenden
AL5 3AR
United Kingdom
NUTS code: UKH
The contractor/concessionaire will be an SME: no
V.2.4)Information on value of the contract/lot/concession (excluding VAT)
Total value of the contract/lot/concession: 253 750 000.00 GBP
V.2.5)Information about subcontracting

Section VI: Complementary information

VI.3)Additional information:
VI.4)Procedures for review
VI.4.1)Review body
Royal Courts of Justice
Strand
London
WC2A 2LL
United Kingdom
VI.4.2)Body responsible for mediation procedures
VI.4.3)Review procedure
VI.4.4)Service from which information about the review procedure may be obtained
Royal Courts of Justice
Strand
London
WC2A 2LL
United Kingdom
VI.5)Date of dispatch of this notice:
16/03/2017