Victory Quay - Phase 1

Descriptions

Pursuant to a Transparency Notice published 24 April 2025 (ref 2025/S 000-016784), a Contract Award Notice published 24 April 2025 (ref 2025/S 000-016789) and a Contract Details Notice published 17 June 2025 (Ref 2025/S 000-032951) (collectively, the "Previous Notices"), VIVID has entered into a Pre-Construction Services Agreement with PMC Construction and Development Services Limited ("PMC") relating to pre-construction services in respect of Phase 1 of the development of the site at Victory Quay (Tipner East) (the "PCSA").

As set out in the Previous Notices, VIVID is proposing to develop the site at Victory Quay (Tipner East) by reference to a number of phases.

The Previous Notices set out VIVID's intention that the PCSA would lead into the award of a JCT Design & Build Contract for the delivery of infrastructure works and Phase 1 works, subject to satisfactory performance under the PCSA, meeting pre-conditions set out in the PCSA, and subject to VIVID obtaining the necessary internal approvals).

This Contract Award Notice sets out VIVID's intention to now enter into a JCT Design & Build Contract with PMC for the delivery of the infrastructure works and the Phase 1 works (having satisfied itself of the conditions noted above)

This Contract Award Notice is published in VIVID's name, although it may be VIVID or Vestal Development Limited (group company) who subsequently enters into the JCT with PMC, and this notice is therefore advertised for the benefit of both VIVID and Vestal.

The works to be delivered under the JCT D&B Contract for Phase 1 include the delivery of 181 homes plus the core main road layout, ground raising, spine road, sea wall coastal path, primary service to site, drainage & foul water pumping station, landscaping, bird conservation area, temporary and permanent boundaries and a commercial space for marketing and management.