- The John Hay Management Corporation (JHMC) is inviting interested bidders to bid for the long-term lease and development of the Sheridan Drive Center located at the John Hay Special Economic Zone, Baguio City, Philippines on an “as-is, where-is” basis.
- The Sheridan Drive Center shall be a mixed-use development following the “live, work and play concept” while, at the same time, promoting and preserving the JHSEZ’s eco-tourism theme. The Sheridan Drive Center shall have all the following developments and land uses, and should adhere to the following land use allocation:
- Hotel/Accommodation – At the minimum, forty percent (40%) of the total development should be allocated for these types of development;
- Office – At the minimum, ten percent (10%) of the total development should be allocated for these types of development; and
- Commercial/Retail – At the minimum, twenty percent (20%) of the total development should be allocated for these types of development.
- Lease Term: Twenty five (25) years, renewable for another twenty five (25) years upon the parties mutual agreement.
- Minimum Lease on the Property: The minimum acceptable lease for the property shall be Twenty-Eight Million Pesos (PhP28,000,000.00), exclusive of twelve percent (12%) Value-added Tax (VAT), representing rent for the 10,000-square-meter Parcel 1 (Phase 1 Development of the Property) from the effective date of the lease until 15 April 2018.
- The minimum acceptable annual lease for the whole Property (i.e. Parcel 1 and Parcel 2) shall not be less than Twenty Million Pesos (PhP20,000,000.00), exclusive of twelve percent (12%) VAT and shall commence on 15 April 2018 or upon turnover of Parcel 2 to the Winning Bidder, whichever comes first. The annual lease shall be subject to five percent (5%) escalation every year, and shall be paid in advance on or before the anniversary date of the Contract of Lease.
- The Winning Bidder shall remit to JHMC in advance the lease for 10,000-square-meter Parcel 1 (Phase 1 Development of the Property), to be paid on the execution of the Contract.
- Interested bidders may purchase the Terms of Reference (TOR) for the subject bidding at Cottage 624, JHMC Office Complex, Sheridan Drive, John Hay Special Economic Zone, City of Baguio from March 26, 2015 to June 19, 2015 for a non-refundable fee of One Hundred Thousand Pesos (PhP100,000.00) payable to JHMC in manager’s check. Only those who have purchased the TOR(including bid forms and pertinent documents) shall be entitled to participate in this bidding. The TOR may also be viewed in the BCDA and JHMC website at www.bcda.gov.ph and www.jhmc.com.ph, respectively.
- A Pre-Bid Conference will be held on May 22, 2015, 10:00 AM at the Bell House, John Hay Special Economic Zone, City of Baguio.
- Deadline for the submission of the Eligibility Documents and the Final Proposals shall be at 10 A.M. of June 22, 2015 at the Bell House, John Hay Special Economic Zone, City of Baguio.
- Opening and Preliminary Examination of Bids shall be conducted at 10:30 A.M. of June 22, 2015 at the Bell House, John Hay Special Economic Zone, City of Baguio.
(Sgd.) ATTY. MICHELLE T. REGALA-NIEBRES
ADP-Com Chairperson
