Dacorum Investment Partnership Market Information Pack

Description

There exist several successful Private & Public Sector Investment Partnerships and alternative joint venture models already in place throughout the country. The Council recognises that the exact structure of each of these is often dependent on the parameters of the development opportunities as well as the operating processes and commercial structure of the partners. Therefore, The Council wishes to engage with the market informally, to understand from potential partners, what structure and approach provides an advantageous and robust route to realising the opportunities detailed herein.IMPORTANTThis opportunity does not fall under the remit of the Public Contract Regulations 2015 and will therefore not comply with this legislation. The Council are using it's e-tendering portal to make the market award of this opportunity, but in no way does this attribute this opportunity as being a procurement process. Lot 1: Dacorum Borough Council (The Council) is ambitious for growth, change and transformation. It is developing a new agenda to address housing need (outlined in the Housing Strategy (2024-2029)current place-related issues and promote and shape new development to secure the Council, and the Borough’s, longer-term economic future.The Council holds significant assets. As a stock holding Authority it owns over 10,000 council homes, including 29 supported housing schemes, as well as approximately 700 commercial, civic, cultural and leisure assets. In addition, it owns around 40 car parks, including at strategic sites in Hemel Hempstead town centre and the wider Borough, as well as a garage portfolio across Hemel Hempstead and the Borough, with around 7,000 garage units across circa 700 sites.To support its ambition, the Council is undertaking a Strategic Asset Review, exploring how Council assets can best support the Council’s strategic objectives to:• Increase housing supply across affordable housing and other appropriate tenures to meet increasing local housing need;• Deliver wider regeneration and place-making, including the regeneration of key strategic town centre and neighbourhood sites; and• Secure long-term additional income streams to the Council Following a review of potential delivery mechanisms, The Council is considering selection of a Partner to establish a jointly owned ‘Dacorum Investment Partnership’ (DIP) to progress delivery of these strategic objectives; through both mixed-use town centre regeneration schemes and neighbourhood-based housing development and estate regeneration. Recognising that partnerships can operate in a variety of ways, the purpose of this soft market testing exercise is, firstly, to highlight the upcoming opportunity to the market and secondly, for the Council to better understand the market’s appetite to work in partnership with the Council to deliver its strategic aims. The Council is particularly keen to understand what partners can bring to the table and offer.The partnership envisaged would be long-term and flexible, rather than involving a defined number of specific, prescribed schemes. It would seek to capture best practice from successful partnerships already in place involving local authorities and the private sector elsewhere, as well as build upon the work already completed by The Council, to unlock development sites and harness private-sector expertise to create quality-led developments of different tenures to meet the needs of the borough, its residents and growing population. The Council is seeking a partnership which places people at the heart of everything it does and embraces the conditions for trust to develop.