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European snatches Kings deal
00:00 11 Jul 1996
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Godfrey Bradman's European Land and Property Corporation has been
given exclusive rights to negotiate for the œ100 million
redevelopment of Kings College London's medical school and the
United Medical & Dental Schools (UMDS).
Four consortia submitted initial bids, but European Land has been selected to proceed, after Kings and UMDS felt its bid offered the most cost effective measures. In an unusual move, European Land has been given 10 weeks to refine its bid, but has not been given preferred bidder status as yet.
Paul Allison of Ernst and Young, which is advising Kings and UMDS, commented: "Our target is to enter into a contract by the end of this year and start on site around March 1997."
Allison said that a developer-led approach was felt to make the most sense, as the developer had the necessary additional skills and could pull together the best team.
Four consortia submitted initial bids, but European Land has been selected to proceed, after Kings and UMDS felt its bid offered the most cost effective measures. In an unusual move, European Land has been given 10 weeks to refine its bid, but has not been given preferred bidder status as yet.
Paul Allison of Ernst and Young, which is advising Kings and UMDS, commented: "Our target is to enter into a contract by the end of this year and start on site around March 1997."
Allison said that a developer-led approach was felt to make the most sense, as the developer had the necessary additional skills and could pull together the best team.
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