Coronavirus impact sees Crown Estate rejig Round 4 plan

“We can now confirm that we anticipate opening invitation to tender (ITT) Stage 1 during the week commencing 30 March 2020,” The Crown Estate said in a statement.

“We are extending the period for ITT Stage 1 submissions from seven to 10 weeks, to afford bidders additional time to respond and retaining the 11-week period for ITT Stage 1 assessment, as set out in the information memorandum.

“We envisage that ITT Stage 2 will commence in the second half of September 2020 with the commencement of the bidding cycles in October.”

A spokesperson for The Crown Estate said, “We are responding to the fast-changing Covid-19 situation in the context of the Round 4 leasing programme, mindful of both the health and wellbeing of everyone involved and the need to ensure all bidders are treated fairly.

“Our considered adjustments to some timings will help to allow additional time and flexibility for bidders, while ensuring minimal disruption to the overall programme timeline.

“We will continue to monitor the national and international situation closely and, where necessary, will provide further updates as the situation develops.

“In the event that any further adjustments to the programme are required, we will provide as much advanced notice to bidders as possible.”