The government will on Sunday publish a call for proposals from prospective bidders to regenerate Valletta’s Evans Building, asking investors for a minimum capital spend of €13 million to transform the site into an “upmarket tourism accommodation”.
The successful bidder will receive a 65-year lease on the building which until recently housed a number of government departments including the passport office.
Last month Prime Minister Robert Abela announced that Sliema’s Chalet, Valletta’s Evans Building and the old Pixkerija fish market are to be opened up to private sector investment through public-private partnerships.
A call for proposals from prospective bidders to regenerate the site of the Chalet in Sliema was issued the following week.
The next site to be announced is the Evan Building with government sources saying bidder will be invited to start submitting their proposals on Sunday evening.
Malta Strategic Partnership Projects is handling the concession.
It is understood that the concession period will be 65 years with an initial minimum investment of €13 million and other reinvestments throughout the concession period.
The annual ground rent will be fixed at €146,000 over and above a minimum concession fee of €302,000.
The Evans Building site is located in Merchants Street near the tip of the Valletta Peninsula. It was originally built in 1952 to serve as university laboratories.
The site is some 3,327 square metres large with a four-storey building that has a built-up footprint of 1,080 square metres per floor.
It also includes the remains of the Nibbia Chapel, the Chapel of the Bones and the Anatomical Theatre.
The contract will include a number of conditions including the possibility of restoration of buried structures during the first phase of the concession period.
The government said that following consultation with UNESCO and the Superintendence of Cultural Heritage, it was decided that the external shell of the building will be retained while internal modifications will be allowed.
MSPP said studies indicate that during the development of the site works would generate an annual direct value added of €1.2 million, which rises to €2.5 million due to multiplier effects.
It will create 64 full time jobs, 29 of which are directly linked to the investment.
The operational phase is expected to generate an annual direct value added of €4.5 million, which rises to €9.6 million when considering multiplier effects.
This phase of the project is expected to create 212 full time jobs, 115 of which result directly from the project.
The call for proposals will be open on November 27 2022 and will close on March 3, 2023.
Related documents can be found on www.etenders.gov.mt.