The Forum, King's Quarter, Gloucester

Description

The Council will enter into a development funding agreement (DFA) with R Blue Regen GL Limited  and Reef Estates Limited (which are connected organisations) for a mixed use, urban campus known as King’s Quarter. The Council and a group company of Reef Estates Limited (R Blue Capital Ltd) both have land interests in the site. They will deliver retail, leisure and office space, dwellings and a hotel together with a multi-storey car park. On completion of the development a group company of Reef Estates Limited will transfer its land interest to the Council. The development will be undertaken in 2 phases. Works required to deliver the development (and a number of consultancy services) will be procured in accordance with an OJEU or UK Find a Tender procedures or under Frameworks. Reef/R Blue Regen GL Limited  will also provide management and maintenance services for 5 years. R Blue Regen GL Limited  and Reef (or a group member) will take a 5 year lease of incubator offices and provide a guarantee to the Council in connection with rent from the hotel.