09:00AM, Friday 10 November 2017
The contract for the redevelopment of Maidenhead Golf Club is set to be worth a minimum of £500m, according to the leader of the council.
Cllr Simon Dudley (Con, Maidenhead Riverside) said the development, which would see 2,000 homes, a school and a community centre built on the 132-acre site, has been called one of the most exciting in the South-east, outside of London.
The £500m figure was made public in a tenure document in a supplement to the Official Journal of the EU as part of the tendering process.
It states the council is seeking a joint venture (JV) partner to lead the development, and the authority’s objectives are to deliver 2,000 homes and generate a financial return. Under ‘estimated total value’ it states £500m, excluding VAT.
When asked what the figure represents, Cllr Dudley said: “You have to indicate a value and that is the minimum contract value. It’s to give a scale of the contract from the JV’s part and perspective, so if you are a small, medium developer, you know this is not for you.”
He said the gross development value, which is what all the houses would be worth once built, is ‘probably’ more than £1bn.
A notice has also been placed in the Estates Gazette by Savills, which is the property agent for the borough’s development, and a bidders’ presentation will take place in London tomorrow (Friday).
Cllr Dudley added: “We will continue to have control of the site which is why we can deliver a minimum of 30 per cent affordable housing.”
However, Cllr Geoff Hill (Con, Oldfield) has urged Cllr Dudley to keep residents informed of the proposals.
He said: “I'm in receipt of yet more angry phones calls directing me to an advertise-ment for the site in Estates Gazette of which I was not aware.
“Residents rightly complain of a lack of engagement, loss of confidence and trust in the leadership of RBWM. I urge the RBWM leadership to always keep those affected informed of their proposals and discuss and agree everything before moving forwards.”
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