Joint Venture: Agents Brief for Garsdale Land

Land at Garsdale – Agents’ Brief

Client Frome Town Council (FTC)
Location

 

Land at Garsdale, Frome BA11 1RZ

Site area 0.564 ha (1.394 acres)

Requirement Frome Town Council wishes to identify an agent that can support the Council in the following ways:

  • To identify a Joint Venture (JV) developer/investor partner to bring forward a scheme to deliver B1 Office or a mixed-use B1 office/residential development on the Council’s land at Garsdale.

FTC’s prime interest is in meeting the strong demand in Frome for grow-on space for office based businesses and some provision for start-up

  • To advise on an appropriate model of JV
  • To advise on best consideration for the land
  • To assist with negotiations with prospective partners

In identifying an agent, consideration will be given to our ethical decision matrix related to procurement

 

Model

 

The proposed model of JV is that Frome Town Council will put in the land and the partner will put in cash and expertise with both partners sharing in the revenue.

We would however welcome advice on other models/options

Background

 

Frome Town Council purchased the land from the HCA in 2013

The former Western Woodcraft premises were demolished in 2013

Somerset Skills and Learning CIC currently occupy part of the site on a tenancy at will basis utilising portable Elliott style buildings.

 

Content required in tender submissions

  • Qualifications  and experience of similar schemes
  • Examples of schemes you have worked on and the outcomes
  • Set out the process that you would follow and outline any initial ideas regarding models of JV or prospective partners that you consider would be appropriate to approach
  • Fee to be charged
 

Timescales

  • Quotations to be received by Monday 8th May 2017
  • Interviews will be held in the week beginning Monday 15th May 2017
  • Start date: Monday 22nd May 2017
  • The aim is to have agreed heads of terms with a suitable JV partner within 3 months
 

Contacts

 

For further information and an informal discussion, please contact:

Peter Wheelhouse, Economic Development & Regeneration Manager & Deputy Town Clerk at wheelhousep@frometowncouncil.gov.uk or 01373 475573