PORTFOLIO OF CLOSED LANDFILL SITES SITUATED ACROSS, Victoria Park, M1

On behalf of Greater Manchester Waste Disposal Authority, Jones Lang LaSalle are instructed to dispose of a land portfolio of 18 closed land fill sites situated across Greater Manchester, some of which occupy strategic locations adjacent to key motorway junctions and residential areas. As such, we believe that the portfolio presents the opportunity for prospective purchasers to realise long term value through the planning system.Property particulars relating to each of the respective sites are available, however in summary the opportunity includes the following sites:•  Cox Green•  BoltonRed Moss•  Bolton Drinkwater Park•  Bury Pink Bank Lane•  Manchester Deanshut Clough•  Oldham Hardman Fold•  Oldham Peel Lane•  Rochdale Brookhouse (South)•  Salford Carrington Street•  Salford Lumns Lane•  Salford Adswood•  Stockport Ash Road•  Tameside Dunkirk Lane•  Tameside Glent Quarry•  Tameside St Annes Road•  Tameside Chester Road•  Stretford Trafford Cob Kiln Lane•  Trafford Torbay Road, TraffordThe sites closed between 1974 to 1986 and all have been subject to a restoration programme. Information relating to current maintenance and monitoring is provided in the enclosed particulars.The portfolio also produces an annual income via an open storage lease agreement let to Solutions SK at Adswood; a licence agreement to Biffa at Lumns Lane, and a periodic licence to Highways Authority appointed contractors at Brookhouse South.The portfolio comprises:• 18 sites extending to in excess of 500 acres.• Current fixed income of £21,750 p.a. plus a periodic tenancy to sub-contractors undertaking work for the Highways Authority at a weekly rent of £975.• Outstanding 2007 rent review at Adswood. Notice served at £57,500 p.a.• Annual fixed costs for maintenance in 2010/11 of £312,693.07*• Potential to rationalise costs associated with maintenance.*(Please refer to attached cost schedule)We are instructed to initially seek expressions of interest from those parties wishing to purchase the entire portfolio outright.At this stage GMWDA do not wish to enter into a transaction to dispose of parcels/individual sites and therefore we have been instructed to only register contact details for those parties wishing to purchase individual sites. Should disposal of the entire portfolio not be achieved then consideration will be made for disposal of parcels/individual sites and we will revert back to those parties who have expressed an interest.We believe the portfolio presents opportunities to:• Realise development potential on those strategically located sites, through the planning system.• Optimize existing income through pro-active estate management.• Create cost savings and efficiencies by reviewing existing and on going maintenance and monitoring programmeTimetableThe properties timetable for disposal is to be adhered to:30th November 2011 - Mail out particulars.30th Nov – 16th Dec 2011 - Jones Lang LaSalle to respond to queries and confirm responses to all parties.9th December 2011 - Final date for interested parties to submit all queries.16th December 2011 - Responses to queries to be distributed around all interested parties. 16th December 2011, XXXm - Expressions of interest to be received from prospective purchasers detailing relevant information as per the attached form.19th December 2011 - Initial shortlisting of prospective purchasers for the entire portfolio.5th January 2012 - Shortlisted parties to be provided with further detailed information via a dedicated share point.27th January 2012 - Final shortlist of interested parties to be confirmed.1st February 2012 - Request detailed expressions of interest/bids.24th February 2012 - Receive detailed expressions of interest/bids from shortlisted parties. 16th March 2012 - Selection of preferred bidder.In the first instance prospective purchasers shall be assessed on the following criteria:•  Confirmation that a portfolio purchase rather individual site purchase is the preference; this will be assessed on a Pass/Fail basis•  Confirmation that the proposed timescales outlined above are acceptable; this will be assessed on a Pass/Fail basis•  Financial capability; this will be assessed on a score basis•  Track history particularly in the management and development of closed landfill sites or contaminated sites and track record for Environmental and Health & Safety matters; this will be assessed on a score basisThereafter, the second shortlisting shall be based upon the following:•  Level of financial bid•  Bidders proposals for the sitesAll interested parties are required to submit their initial expression of interest by Friday 16th December 2011 at XXXm.Expressions of interest are invited in accordance with the attached Pro-forma. Submissions returned after the specified date and time will not be assessed. Should you require any further information then please do not hesitate to contact the following:  John LaffertyDirect line: 01612386270Direct fax: 01618286490Mobile: 07816871658john.lafferty@eu.jll.comDavid LathwoodDirect line: 01612386220Direct fax: 016182864900Mobile: 07703234248David.lathwood@eu.jll.com

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