TH 3517 - New Build Contractor (Lyndhurst)

Description

Thrive is seeking to enter into a transaction with Hill Residential Limited to purchase land at Lyndhurst Farm, Green Street, Borehamwood WD6 5NF on which it is intended to carry out a residential development. The land required for the development has been assembled by Hill Residential Limited which has carried out (on its own account and not on behalf of Thrive) significant preparatory work in the design and preparation of the development, including submitting designs, reports and other details for the discharging of planning conditions. Hill Residential Limited has an exclusive right to purchase the land comprising the development site. It has agreed to transfer this right to Thrive, but only on the condition that its group company Hill Partnerships Limited carries out the proposed development. The land is not offered for sale without this condition. Thrive therefore considers that Hill Partnerships Limited has an exclusive right to carry out the works required to complete the development for the purpose of paragraph 5 of Schedule 5 to the Procurement Act 2023 and intends to grant a works contract to Hill Partnerships Limited on this basis. Given the exclusive rights held by Hill Residential Limited, a development at this location cannot be acquired from any other person, and Thrive considers that no similar development, with planning permission and ready for construction, can be acquired in the locality as a reasonable alternative.