Construction work

Description

Women's Pioneer Housing Limited (‘WPH’) is procuring a development partner to develop the site at 227 Wood Lane. The development will be zero-cost to WPH but will include a long leasehold interest to the development partner in the part of the site not required for the development of the WPH office and residential accommodation (with WPH retaining the freehold). The site will be provided with vacant possession. The development partner will be responsible for obtaining planning permission. The development will deliver a minimum of 36 newly built self-contained single person flats and will be built to WPH's specification. WPH will prioritise the delivery of additional flats over a capital receipt. The objective is to maximise the number of additional self-contained single person flats provided to WPH to enhance their estate. The development will also re-provide WPH with new purpose-built offices of circa 400m2. The development must provide environmental improvements to Pioneer Way. WPH is looking to commission a development partner to carry out the redevelopment of the site at 227 Wood Lane, London, W12. Parties interested in bidding for the scheme are required to demonstrate their suitability, economic and financial standing, and technical and professional ability to undertake the development which would intensify the use and modernise the estate. WPH is an organisation which was founded in 1920 to provide affordable homes for single women. It is the largest specialist housing association for women in London. The organisation owns almost 1000 properties across eight boroughs including Hammersmith & Fulham, Kensington & Chelsea, Camden, Wandsworth, Ealing, Hillingdon, Harrow and Westminster. WPH has a clear vision and strategy to provide more local homes for single women let at rents which are affordable, thereby enabling women to lead fulfilled and independent lives. WPH are committed to providing excellent housing services, which is evident in their continued commitment and investment in the upgrading of existing properties and the development of additional properties. The existing properties under WPH ownership are valued at £400 million, which allows the organisation the ability to borrow funds to develop new homes. The organisation's current development programme includes the development of eleven new flats, with a further 16 in the pipeline. Significant further development potential is felt to exist elsewhere in the stock and is being explored at present. The majority of the residential units are available on assured tenancies, with a small number available on the private market at market rents. The site extends to approximately 0.54 acres (0.22 hectares) and currently consists of a collection of buildings owned and operated by WPH. The Wood Lane site houses the head office for the organisation, which has been located there since 1979, in addition to residential units. The specific objectives of WPH for this procurement are summarised above at Section II.1.4. The wider objectives are as follows: — The freehold ownership would remain with WPH; — That the WPH dwellings will be contained within an independent building or within a part of the building served by a separate staircase core and entrance, which can be independently serviced and maintained; — That WPH's new administrative office will be co-located within the building; — That WPH's retained dwellings and offices will be constructed in a way that will enable the services to be managed and maintained separately to the other development; — That the redevelopment will be a high quality, and sustainable one, designed to minimise long maintenance and operational costs; — That the design and development as a whole will recognise WPH's wider objectives and promote cohesion with the surrounding residential community, which includes WPH's existing, retained dwellings along Pioneer Way and the Clarion development to the north; — That practical completion of the redevelopment is achieved within a reasonable timescale. Please see the Information Memorandum for further information. WPH does not yet have a fixed view as to the appropriate legal structure to achieve its objectives. Its current preference is for a development agreement, with the developer receiving a building lease over the part of the site on which the developer constructs for sale, once all conditions precedent to development have been met, followed by a long lease at wind and watertight. The developer would construct the office and dwellings for WPH under licence. However WPH may be willing to consider a joint venture or other approaches and WPH currently intends to provide an opportunity for bidders to propose alternative legal structures at outline solutions stage. Further information on this will be provided at tender stage. Whatever legal structure is finally selected, WPH will retain the freehold of the whole site at all times.