Contract award · 17 Mar 2021

Lea Bridge Station Sites - Developer Partner

London Borough of Waltham Forest awarded “Lea Bridge Station Sites - Developer Partner” to London Square Developments Limited for £173m.

No competitionConstruction workLondon

Awarded without open competition

Awarded without open competition. The buyer went directly to one or a few suppliers instead of advertising the contract. Procurement rules allow this only in specific cases, such as extreme urgency, when only one supplier can do the work, or for call-offs from an existing framework.

What “without competition” means

Key facts

Buyer
London Borough of Waltham Forest · Regional or local authority
Value
£173,000,000
Procedure
Award procedure without prior publication of a call for competition
Sector
Construction work · Construction work (CPV 45000000)
Region
London
Timeline
  1. Contract date17 Mar 2021
  2. Published28 Mar 2025Published 1472 days after the contract date

Description

The original development agreement involved the Council granting a short-term building lease followed by the grant of a long lease of 250 years on completion. The Greater London Authority (GLA) now requires schemes involving GLA funding for housing for sale, including shared ownership housing to be leased for at least 990 years. This change was introduced in November 2021, after the Council had entered into the development agreement. The varied scheme would grant the 990-year lease to the developer up-front in place of the short-term building lease. The number of residential units to be delivered by the scheme will be varied to increase from 320 to 387 and the number of affordable units varied from 120 to 387 (i.e. the residential element of the scheme will be entirely affordable housing). The original structure involved a short-term build lease with the longer lease granted on golden brick for the site with affordable units and granted on practical completion for the sites with priva…

About the supplier

More from London Borough of Waltham Forest

All contracts

More won by London Square Developments Limited

All contracts

Recent construction work contracts

Sector overview