This is the biggest transformational regeneration scheme the council has embarked on and the Galleries25 team were selected as development partners because they developed a strong masterplan and demonstrated their ability to deliver it.
A development project of this scale is complex and challenging and requires a development partner with the experience, expertise and resources necessary to deliver it. Cityheart and BCEGI are both UK based, with a proven track record of delivering complex regeneration schemes.
There are strict procurement processes that we have had to adhere to, to identify a preferred development partner for a scheme of this scale. We embarked on an open, intensive and robust process called “competitive dialogue”. Subject to due diligence on financial standing and professional expertise the process is open to any company.
Cityheart and BCEGI were one of 4 bidders to compete in the outline solutions stage – three bidders then progressed to put forward detailed solutions. Proposals were assessed on the basis of quality, cost and social value and Cityheart and BCEGI scored strongly under all themes. They were selected on the basis of the quality of the offer but also very much on the strength of their Community Wealth Building commitments.
Cityheart and BCEGI have made some very strong commitments to ensuring that the benefits are felt locally. 40% of recruitment will be within the borough and 60% from the north west. £52m will be spent within the local supply chain. We will work with local companies to ensure that they’re able to access the opportunities that the redevelopment presents.