TTL Ickenham Properties Limited (TTL), a wholly owned subsidiary of Places for London Limited (Places), has entered into a members' agreement with BDW Trading Limited in respect of Ickenham Properties LLP (LLP). The LLP will seek planning permission in respect of combined land holdings in the vicinity of Ruislip Depot (the Site) with the ultimate aim of developing the Site. The estimated duration of the members' agreement is 40 years, taking into account the time required to obtain planning permission, complete any development, and the duration of any guarantees. The contract value has been estimated on the basis that the arrangement may be characterised as a service concession contract.

Procurement Act 2023

Direct award The LLP (controlled by BDW at the time of the transparency notice dated 11 June 2026) has exchanged contracts to acquire land at Ickenham comprising a site immediately adjacent to Places' land holdings. Places owned land adjacent to the land the LLP acquired in the vicinity of Ruislip Depot. Viability and site constraints meant that it was not feasible for Places to develop this land on a standalone basis. However, these viability issues and site constraints could be overcome if Places' land were combined with adjacent land and developed as part of a wider scheme. Therefore, Places (via its subsidiary, TTL) became a member of the LLP, and transferred its land in the vicinity of Ruislip Depot to the LLP. The LLP is responsible for seeking planning permission with the ultimate aim of developing the Site. The LLP has appointed BDW as the business and development manager, which is responsible for delivering the objectives set out in the LLP's business plan. TTL is a wholly owned subsidiary of Places for London Limited, which is the property owning arm of Transport for London. TTL is a contracting authority and subject to the Procurement Act 2023 when it awards public contracts. To the extent that Places' decision to become a member of the LLP (acting via its wholly owned subsidiary TTL) triggered the award of a public contract, Places considers that a direct award in accordance with section 41(1) of the Procurement Act 2023 was justified on the basis that the direct award justification in paragraph 5 of Schedule 5 applied. In addition and/or in the alternative, Places considers that the direct award justification in paragraph 6 of Schedule 5 applied. More specifically, Places considers that: • The BDW-controlled LLP had exclusive rights by virtue of its contract to acquire the immediately adjoining land to Ruislip Depot, such that it was the only supplier that Places could partner with to facilitate the development of Places' land in the vicinity of Ruislip Depot; and/or • There are technical reasons why the BDW-controlled LLP was the only supplier able to provide the required services. Specifically, no other supplier held, or was in a position to acquire, the specific parcels of land necessary to achieve a viable combined development with Places' land near Ruislip Depot. Places was also satisfied that there were no reasonable alternatives to participating in the LLP for the purpose of developing its land near to Ruislip Depot. In particular, Places concluded that publication of a tender notice would not trigger more competition or a better outcome, not least because the LLP was objectively the only supplier who could partner with Places to unlock the development of its land. This conclusion was based on the following factors: • it would not have been viable to develop Places' land in the vicinity of Ruislip Depot without combining that land with neighbouring land; and • the only plausible way to achieve that objective was to partner with BDW in the LLP. In particular, due to the location of existing railway infrastructure, roads, and RAF Northolt, Places concluded that there were no other parcels of land which could be combined with its land to create a viable regeneration scheme (other than the adjoining land the LLP had exclusive rights to acquire). Places also considered whether there were other parcels of land which Places could acquire via a competitive procurement but concluded that no such parcels of land existed (or were available) that would enable Places to develop its land on a viable basis. In accordance with section 41(4) of the Procurement Act 2023, Places has verified that BDW is neither an excluded nor an excludable supplier.

Concession