The Development Bank of Wales is preparing an Invitation To Tender for a new legal panel to cover its property-based investments and services and, in collaboration with Legal News Wales, is opening its doors to welcome law firms in Wales to meet the Bank and access support for the tendering process.
Development Bank of Wales (DBW) and Legal News Wales are working in collaboration to raise awareness of this opportunity and engage with as many law firms as possible.
To this end, we will be hosting two ‘meet the buyer’ events on Friday 28 June 2024 to explain the tender process and scoring, expand on the legal requirements under each lot and invite feedback from firms prior to launching the formal process via Sell 2 Wales.
Cenydd Rowlands, Property Director, Development Bank of Wales, explained why the Bank is hosting these events:
“My ambition with this process is to secure a diverse and high-quality panel that will cover our growing range of property investment activities for years to come.
“Hopefully, these sessions will allow as many firms as possible to consider applying. This includes those we’ve not worked with previously (or for some time) and those that may be less familiar with a public procurement process. All are welcome and I encourage as many as possible to attend!”
Emma Waddingham, Editor, Legal News Wales, added:
“This exciting opportunity has arisen as a result of a shared vision between myself and Cenydd to ensure that all Welsh legal practices with the technical expertise and capacity to support DBW’s property transactions are able to access support to take part in the procurement panel bid. The events are open to all relevant legal firms, of all sizes and locations in Wales. The day also also offers a fantastic opportunity to meet the Property Team at DBW.”
The legal panel will be split into three lots based on loan sizes, which are intended to appeal to smaller, medium and larger legal firms alike.
The Panel Lots
A breakdown of the lot descriptions and services required under each is set out below:
Lot 1a |
Lot 1b |
Lot 1c |
| Loan sizes of up to £250,000 | Loan sizes over £250,000 and up to £1,000,000 for commercial developments or £1,500,000 for residential developments | Loan sizes of over £1,000,000 for commercial development or £1,500,000 for residential developments |
| Expectation of circa 30 instructions per annum, with up to 3 firms appointed to the lot | Expectation of circa 25 instructions per annum, with up to 5 firms appointed to the lot | Expectation of circa 15 instructions per annum, with up to 5 firms appointed to the lot |
| Typically, borrowers under this lot will be private individuals where instructions will be on a dual representation basis
|
Typically, borrowers under this lot will comprise both private individuals and limited companies (or other such commercial entities) where instructions will be on a sole representation (DBW only) basis | Typically, borrowers under this lot will be limited companies (or other such commercial entities) where instructions will be on a sole representation (DBW only) basis |
| DBW requirements may include: | DBW requirements may include: | DBW requirements may include: |
| 1. Certificate of title (template) | 1. Certificate of title (template), including review of planning permission | 1. Certificate of title (template), including review of planning permission |
| 2. Review valuation report | 2. Review valuation report | 2. Review valuation report |
| 3. Carry out pre-completion searches | 3. Carry out pre-completion searches | 3. Carry out pre-completion searches |
| 4. Deal with completion monies | 4. Deal with completion monies | 4. Deal with completion monies |
| 5. Draft and register charge (template) at HMLR, obtain consents from priority charge holder | 5. Draft and register charge (template) at Companies House and HMLR | 5. Draft and register charge (template) at Companies House and HMLR |
| 6. Review of build contract and associated collateral warranty (template) | 6. Review of build contract and associated collateral warranty (template) | |
| 7. Review appointment and Collateral Warranties (template) for contractors and consultants |
The events – which session should I attend?
Spaces for each session are limited to 20 places per session, with 1 representative per firm on a first come, first serve basis. Please secure your place via the links below as soon as possible!
Lots 1b & 1C
9:30am, Friday 28 June
The session covering Lots 1b and 1c (which both involve commercial borrowers and development-specific legal expertise) will be held from 9:30am to 11am on Friday 28th June. To book your place at this session, click here.
Lot 1a
2:30pm, Friday 28 June
The session covering Lot 1a (which involves individual borrowers and no development-specific legal expertise) will be held from 2:30pm to 4pm on Friday 28th June: To book your place at this session, click here.
Venue
Both sessions will be held in DBW’s boardroom: #1 Capital Quarter – Floor 7, Tyndall Street, Cardiff, CF10 4BZ – Cardiff – Dev Bank (developmentbank.wales)
For further information, please contact Emma Waddingham, Editor, via email at: editor@legalnewswales.com
