Published date: 24 May 2019

Last edited date: 24 May 2019

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 25 February 2019

Contract summary

Industry

  • Real estate agency services on a fee or contract basis - 70300000

Location of contract

W8 7NX

Value of contract

£3,323,920 to £17,100,000

Procurement reference

tender_196353/766359

Published date

24 May 2019

Closing date

25 February 2019

Contract start date

13 May 2019

Contract end date

12 May 2034

Contract type

Service contract

Procedure type

Open procedure (above threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements above the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

The RBKC pension fund (\"the pension fund\") has a warded a contract to increase its allocation of UK property investments from the current level of around 5% to around 20%, through a bespoke segregated property portfolio. The service provided will help the pension fund build and maintain a direct property portfolio and provide ongoing management services for the portfolio, including to:

- Advising on property acquisitions and disposals
- Executing acquisitions and disposals, including contract negotiations and executions
- Managing interaction with tenants and property management, including rent roll
- Advising the Investment Committee on strategy; and
- Considering and implementing structures to hold assets

More information

Previous notice about this procurement

UK Property Management Services for the RBKC Pension Fund

  • Opportunity
  • Published 21 January 2019

Links

Additional text

This procurement was executed through the Council's electronic procurement portal, capitalEsourcing.

Award information

Awarded date

25 April 2019

Contract start date

13 May 2019

Contract end date

12 May 2034

Total value of contract

£6,160,000

This contract was awarded to 1 supplier.

CBRE Limited

Address

St Martin's Court, 10 Paternoster Row, London EC4M 7HP

Reference

Companies House number: 3536032

Supplier is SME?

No

Supplier is VCSE?

No

Additional details

The contract value assumes a contract length of 15 years

About the buyer

Contact name

The Royal Borough of Kensington and Chelsea

Address

Kensington Town Hall, Hornton Street
London
W8 7NX
England

Email

m.hopson@westminster.gov.uk

Website

www.rbkc.gov.uk