Development services of real estate

Description

The Welborne site, located to the north of Fareham, forms a central role in the future delivery of both housing and economic growth for the sub-region. It is proposed for predominately residential development comprising circa 6 000 units, in addition to commercial, community and open space according to garden village principles. There will also be major infrastructure requirements for a new community in Welborne, the most significant are the works required to improve Junction 10 of the M27 motorway. The Council's Executive approved in February 2016 a proposed delivery strategy to secure comprehensive development of Welborne with a land acquisition and delivery partner approach. The Council is seeking to identify a delivery partner with the requisite experience, track record and financial capability to deliver the comprehensive development of Welborne. The chosen partner will be able to have a considerable stake in this long term, major development opportunity. The delivery of Welborne is critical to the continued prosperity and wellbeing of Fareham residents as well as the Council's future housing supply, and is a key priority for the Council. The chosen partner will lead on the comprehensive delivery of Welborne, subject to meeting certain pre-conditions and performance criteria, likely to include: entering into a partnership agreement with the Council with agreed delivery time-frame; submission and approval of a comprehensive planning application (including in respect of Junction 10 of the M27); undertaking negotiations to acquire or reach agreement with third party land interests; and carrying out development activities in accordance with approved planning application and terms of the development partnership agreement. The Council may use its compulsory purchase powers to acquire land where this is necessary. The delivery partner would be expected to work with the Council and provide an indemnity for pursuing these powers.