Over the course of 2019, the Corporation for the County of Middlesex received six unsolicited offers for the Middlesex County properties (399 Ridout and 50 King). A number of the unsolicited offers County Council received were of equivalent financial benefit when compared to the successful proponent for the Expression of Interest.
In an effort to ensure that all offers were received and evaluated utilizing a consistent, fair and open process, County Council initiated an Expression of Interest process. The Expression of Interest (EOI) process established County Council approved evaluation and scoring criterium.
There were two responding submissions to the Expression of Interest process that met the requirements of the EOI process. One responding submission was from York Developments (London) Inc. and one responding submission was from the Corporation of the City of London.
The scoring of the two responding EOI submissions that met the requirements of the EOI process were:
- City of London 86/100
- York Developments 94/100
The submissions scored similarly in the areas of conditions of sale and proposed use for the property. Both responding submissions confirmed that the legal requirements for preserving and maintaining the heritage requirements would be adhered to. York Developments’ response scored higher in the price criteria.
The scoring results were confirmed by County Council at their meeting on November 26 ,2019.