SOL - Mell Square - Town Centre Redevelopment and Repurposing

Description

The Council was seeking a development / investment partner with the relevant experience, capability and resources to instigate transformational change at the Site through retail and residential reconfiguration and redevelopment to deliver a balance of uses to attract people into the town centre to live, work and visit, to create a new town centre destination with a strong sense of place.It was proposed that the Council and the successful bidder would enter into a partnering structure that would align the parties' goals and provide a mechanism for the development to be delivered. The Council envisaged this would be through a contractual joint venture approach. Lot 1: The Council is seeking a development / investment partner with the relevant experience, capability and resources to instigate transformational change at the Site through retail and residential reconfiguration and redevelopment to deliver a balance of uses to attract people into the town centre to live, work and visit, to create a new town centre destination with a strong sense of place. It is proposed that the Council and the successful bidder will enter into a partnering structure that will align the parties' goals and provide a mechanism for the development to be delivered. The Council currently envisages this will be through a contractual joint venture approach. The partnering structure will also provide for a joint working governance structure whereby decisions are taken through a project board comprised of both parties. The arrangement is likely to be conditional on agreeing an overall business plan for the development opportunity supported by a detailed masterplan, setting out how the vision for the Site will be realised. Lot 1: The Council is seeking a development / investment partner with the relevant experience, capability and resources to instigate transformational change at the Site through retail and residential reconfiguration and redevelopment to deliver a balance of uses to attract people into the town centre to live, work and visit, to create a new town centre destination with a strong sense of place. It is proposed that the Council and the successful bidder will enter into a partnering structure that will align the parties' goals and provide a mechanism for the development to be delivered. The Council currently envisages this will be through a contractual joint venture approach. The partnering structure will also provide for a joint working governance structure whereby decisions are taken through a project board comprised of both parties. The arrangement is likely to be conditional on agreeing an overall business plan for the development opportunity supported by a detailed masterplan, setting out how the vision for the Site will be realised.