Published date: 20 May 2022
This notice was replaced on 20 May 2022
This notice does not contain the most up-to-date information about this procurement. The most recent notice is:
Opportunity (published 20 May 2022, last edited 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.
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/Procurer/Advert/View?advertId=9992728a-58d7-ec11-8114-005056b64545&fromAdvertEvent=True
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.
About the buyer
Contact name
Paul O'Dowd
Address
5 Endeavour Square
LONDON
E20 1JN
England
OfficeInvestmentPortfolio@tfl.gov.uk
Website
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