Public procurement notice: Contract Notice
Published: 2019-09-12
Buyer: The University of Manchester
Country: UK
Contract type: Services
Procedure: Competitive dialogue
CPV classification: 70000000 | 70100000 | 70110000 | 70111000 | 70112000
Estimated value: 2000000000 GBP
Submission deadline: 2019-10-18
Award criteria: The most economic tender

Technical requirements: ID Manchester is one of the last major development opportunity sites in Manchester City Centre (18 acres (7,3 hectares)) and is located to the south of the city adjacent to Piccadilly Railway Station, the University campus, Manchester University NHS Foundation Trust and the wider Oxford Road Corridor.
The University is seeking an investment and development partner with the financial means and relevant experience to realise the vision for ID Manchester in a Joint Venture with the University. The University expects the partner to hold a long term interest in the Joint Venture. The partner could be a single organisation or group of organisations that bring together the necessary funding and expertise to deliver the vision.
As a new mixed-use city centre neighbourhood it offers an exceptional opportunity to curate and develop the ID Manchester Site into a vibrant, dynamic, diverse and inclusive environment that creates a new exemplar for Innovation Districts and urban renewal.
The University is seeking a long term investor and development partner who will invest in and bring forward the development of the ID Manchester Site in a Joint Venture (the ‘JV’) with the University as a mixed-use community in order to deliver the vision.
— welcoming: ID Manchester will be open, inclusive, intelligent, welcoming and fun. A model of successful urban regeneration where local communities can engage with new technologies, ideas and experiences,
— supporting: by seeking out diverse occupiers (by sector, scale, and outlook) and actively promoting collaboration through formal and informal structures, programming and facilitated interaction, ID Manchester will create the ideal platform for accelerated business growth,
— adapting: by establishing a set of clear, effective and market responsive strategies and governance structures ID Manchester will enable businesses to truly benefit from the wider innovation ecosystem, research assets, talent pool and influence of the University.
The University’s equity contribution to the JV will be the ID Manchester Site via long leasehold transfers on a plot by plot basis subject to the satisfaction of certain pre-conditions. The partner will provide cash equity funding into the JV. The partner will also provide services to the JV, envisaged to be business and development management services, with investment management services procured by the JV as such services are not required immediately (although this may be included if specific to a bidder's offer). The partner will propose its fee/incentivisation structure for such services.
The University will hold a significant equity stake (no less than 35 %) in the JV with decision making within the JV being on an equal basis alongside its partner, recognising the University’s value as a JV partner.
— demonstrate long-term partnership working approaches, a commitment to partnership and communication at all levels of the Joint Venture through all phases of the delivery of the vision over the long-term,
— provide a high-quality, experienced team with exemplary and transferable skills, which are considered capable of delivering the vision and objectives,
— demonstrate they have the financial wherewithal to fund their equity commitments and secure funding to ensure development is capable of taking place.
It is envisaged that the JV will establish special purpose vehicles to bring forward the development of the ID Manchester Site on a plot by plot basis to enable each plot to be separately funded by way of external debt. The University’s preference is for ID Manchester to be delivered holistically and not be seen as a plot by plot investment by bidders.
On completion of its new engineering campus on Oxford Road the University plans to vacate the ID Manchester Site but will continue to occupy accommodation at the South end, where it has significant business-facing research activity.
It is anticipated that the JV (itself or through or SPVs wholly owned by the joint venture) will develop a masterplan for the JV, secure planning, procure and carry out all infrastructure works on a site wide basis, secure development of the ID Manchester Site, secure occupiers, manage the estate (potentially via a management company) and hold the developed ID Manchester Site as a long-term investment asset.

Eligibility requirements: Information, formalities and necessary requirements to be met will be set out in the selection questionnaire descriptive document, information memorandum, project specification and the draft invitation to participate in dialogue, all of which will be made available via the University’s procurement portal In-Tend. Further information will be provided to candidates via a data room located at https://www8.idealsvdr.com/v3/idmanchester. The University may require appropriate parent company guarantees in relation to the partners funding and/or services obligations. The University reserves the right to require a consortium to take a specific legal form.

Award value: 2000000000