ESPHGP Bulverhythe Development Financial Advisory Services (ESPH388 TI) - AWARD

Hastings Borough Council sought to appoint a suitably qualified and experienced consultant to provide Financial Advisory Services in its progression of the Bulverhythe Housing Development with a Joint Venture Partner. The Council wants to ensure that outcomes on council owned land are maximised with the aim of creating sustainable communitues, increasing social value and stimulating revenue generation to help support the delivery of local services in the face of ongoing government cutbacks. The council has established the Hastings Housing Company (HHC) to help realise its objectives. Hastings Borough Council in discussions with a potential joint venture (JV) partner for the development of the site. These discussions require a detailed understanding of the scheme and its viability, especially regarding development cost as well as potential end sales values. Quantity Surveying services are being procured to review the current scheme costings and provide an updated outline cost plan. In addition to understanding the scheme costs, the council needs to understand how the scheme can most effectively be structured to maximise its income. HBC therefore wish to appoint a third party to provide specialist financial advice.