Concession award notice
Results of the procurement procedure
Section I: Contracting
authority/entity
I.1) Name and addresses
London Legacy Development Corporation
5 Endeavour Square
London
E201JN
UK
Contact person: Brian Walsh
E-mail: brianwalsh@londonlegacy.co.uk
NUTS: UK
Internet address(es)
Main address: www.queenelizabetholympicpark.co.uk
I.4) Type of the contracting authority
Body governed by public law
I.5) Main activity
Other: Regeneration
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Stratford Waterfront and Bridgewater Modifications to Development Agreement
II.1.2) Main CPV code
45211360
II.1.3) Type of contract
Works
II.1.4) Short description
Modifications to a Development Agreement for the development of the site known as Stratford Waterfront and Bridgewater residential developments.
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
600 000 000.00
GBP
II.2) Description
II.2.3) Place of performance
NUTS code:
UKI
II.2.4) Description of the procurement
Description of the procurement: London Legacy Development Corporation (LLDC) entered into a Development Agreement (DA) with Stratford East London Partners LLP (as Developer) and Trapol Limited on 26 July 2022 for the development of the sites known as Stratford Waterfront and Bridgewater Triangle in the Queen Elizabeth Olympic Park, Stratford, London. The parties entered into a deed of variation of the DA on 30 October 2024 to amend the timing and payment mechanisms for infrastructure works being delivered by the Developer at Bridgewater Triangle, and have entered into a further deed of variation of the DA and ancillary documents to incorporate various modifications including: (i) fixed land values for each site, and increased profit share for LLDC as member of the Developer; (ii) variation of milestones for Bridgewater Triangle infrastructure works to reflect the updated programme; (iii) extension of the longstop date for satisfaction of conditions (including relating to planning and vacant possession) and inclusion of Gateway 2 approval for each site as a milestone event; and (iv) to reflect a variation to the affordable housing viability review trigger in LLDC's unilateral undertaking for the Stratford Waterfront site.
II.2.7) Duration of the contract, framework agreement, dynamic purchasing system or concession
Duration in months: 240
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
No
Section IV: Procedure
IV.1) Description
IV.1.1) Form of procedure
Award procedure without prior publication of a concession notice in the cases listed below (please complete Annex D4)
Justification for selected award procedure:
The procurement falls outside the scope of application of the Directive
Explanation
LLDC considers the modifications to be justified on the basis that (i) they are required as the result of unforeseeable circumstances (in particular changes to Building Regulations, which have caused significant increases in costs, as well as the unfavourable economic conditions); (ii) they do not alter the overall nature of the contract; and (iii) they do not increase the value of the overall contract by more than 50%. As a result, the modifications are permitted under Regulation 72(1)(c) of the Public Contracts Regulations 2015 (noting that those regulations continue to apply to contracts entered into pursuant to them) and no new procurement process is required. See section II.2.4
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
No
IV.1.11) Main features of the award procedure:
The procurement falls outside the scope of application of the Regulations. See explanation at Section II.2.4.
Section V: Award of contract
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
23/07/2025
V.2.2) Information about tenders
Number of tenders received: 1
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
Ballymore Limited
04936525
London
UK
NUTS: UKI
The contractor is an SME:
No
V.2.4) Information on value of the concession and main financing terms (excluding VAT)
Initial estimated total value of the contract/lot/concession: 600 000 000.00 GBP
Total value of the concession/lot:
600 000 000.00
GBP
Section VI: Complementary information
VI.4) Procedures for review
VI.4.1) Review body
London Legacy Development Corporation
London
UK
VI.5) Date of dispatch of this notice
22/08/2025