Matt Evans, Andrew Spencer and Matthew Jones consider the impact of the Procurement Act 2023 which came into force earlier this year, in the context of real estate development agreements.
The authors note that challenges remain as to whether procurement legislation applies to real estate arrangements and in particular development agreements, and further note that the Procurement Act 2023 has not sought to move the dial in the treatment of such agreements. A reminder is given as to the need to be alive to the requirements of procurement legislation when structuring real estate transactions and development agreements and guidance provided on how to approach this.
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