Student Accommodation Contractual Joint Venture

Description

The University is seeking an investment partner to co-fund a new student accommodation construction project in the city of York, North Yorkshire. As well as sharing the financial burden of investing in the project, the partner will share in the longer term income generated by this property. The preferred approach to funding the project is a Contractual Joint Venture (JV), which we consider provides the best balance between cost and benefit whilst remaining affordable and banking covenant compliant. However, this approach would depend upon identifying a suitable and capable partner to collaborate with us in delivering the project on terms to be determined through a competitive tender process. In order to achieve the best overall solution for our requirement, a Selection Questionnaire is first being issued. This is to facilitate the identification of the very best potential bidders, of which it is anticipated that no more than 5 will be invited to progress in the procurement process. Select bidders will then participate in a competitive dialogue, with strictly limited scope for negotiation. The majority of the tender specification will not be open to discussion, as the requirement, the design and contractor for the work are all well established. The only elements of the tender that will remain open to negotiation will be those which pertain to the amount of investment that the bidder wishes to contribute, the value of the return they expect to receive and the arrangements and timing for exiting the investment. All submissions must be sent via email to [email protected] by 17:00 on August 11th to be taken into consideration.

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