C&W has been commissioned to support the procurement strategy and selection of a development partner, via an OJEU compliant procurement process
Albert Island is a 10ha (24 acre) brownfield site located within the Royal Docks Enterprise Zone in close proximity to London City Airport.
The GLA’s objectives for the site are to deliver a new boatyard to service boats operating on the River Thames, create new commercial space which will attract employers to the island and increase the range and availability of local skilled employment and training opportunities whilst improve connectivity to surrounding areas and existing public transport networks.
Step 1: Develop a procurement strategy to guide securing a development partner for the GLA via an OJEU-compliant process.
Step 2: Engagement with interested parties through soft market testing.
Step 3: Advising the GLA on the evaluation of initial tenders by a long list of interested parties.
Step 4: Negotiation of commercial terms for schemes developed by shortlisted bidders.
Step 5: Advising the GLA on the evaluation of final tenders and selection of successful bidder.
Cushman & Wakefield is in the final round of bidder selection with final bids due early 2017. Schemes worked up to date have been of a very high quality. Once appointed it is anticipated that contractual matters will be completed quickly and work on an outline planning consent will commence.