Published date: 20 May 2022

Last edited date: 20 May 2022

Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.


Closing: 22 June 2022, 12pm

Contract summary

Industry

  • Corporate finance and venture capital services - 66122000

  • Development of non-residential real estate - 70112000

  • Buying and selling of real estate - 70120000

    • Construction management services - 71540000

Location of contract

England

Value of contract

£900,000,000

Procurement reference

TFL001-DN602184-59154256

Published date

20 May 2022

Closing date

22 June 2022

Closing time

12pm

Contract start date

9 March 2023

Contract end date

22 June 2034

Contract type

Service contract

Procedure type

Competitive dialog

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

TfL is commencing a procurement process to appoint a joint venture development and investment partner for the Opportunity.
The Opportunity comprises the Bank Over Station Development (OSD), Paddington Triangle OSD and Southwark OSD development sites. The selected partner will form a Joint Venture (JV) with TfL to develop the sites into best in class, sustainable office assets that will drive returns for both partners. It is anticipated that the partner and TfL will continue to hold the developed assets in joint venture post practical completion and leasing to benefit from the rental income.
Additional office led development sites may be acquired by the JV at a later stage.

The JV will develop the three sites with the delivery of c. 600,000 ft2 net internal area of office space and ancillary retail space. Planning permission has been received and implemented for Bank OSD and Paddington OSD. Southwark OSD has received resolution to grant planning permission.

An overview summary of the Opportunity can be found within the Procurement Documents, which can be found here:

https://procontract.due-north.com/Advert?advertId=9992728a-58d7-ec11-8114-005056b64545

This call for competition requires interested Applicants to register on the ProContract portal at the above mentioned link (or searching Procontract opportunities with 'TfL 95150 Commercial Office Investment Portfolio Joint Venture') and respond to the Standard Selection Questionnaire (SSQ) by 12:00 GMT on 22/06/2022.

Updated Invitation to Submit Outline Solutions (ISOS) documents will be shared with all successful Applicants following the evaluation of the SSQ responses.

More information

Previous notice about this procurement

Commercial Office Investment Portfolio Joint Venture

  • Opportunity
  • Published 20 May 2022

About the buyer

Contact name

Paul O'Dowd

Address

5 Endeavour Square
LONDON
E20 1JN
England

Email

OfficeInvestmentPortfolio@tfl.gov.uk

Website

https://tfl.gov.uk