Published date: 12 February 2018

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


Closing: 23 March 2017

Contract summary

Industry

  • Construction work - 45000000

Location of contract

North East

Value of contract

£12,000,000 to £18,000,000

Procurement reference

005601

Published date

12 February 2018

Closing date

23 March 2017

Contract start date

3 January 2018

Contract end date

30 August 2019

Contract type

Works

Procedure type

Competitive dialogue (above threshold)

Tenders are invited from pre-qualified suppliers after discussion of requirements and potential solutions.

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

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

Newcastle Council wishes to invite organisations to finance, design and build and fit out new homes on specific sites and to certain standards and specification which the Council will lease back for a set period of time under an Annuity Lease Back Model 'ALBM',. At the end of this period of time all property and assets will revert back to Council ownership. By leasing the properties back to the Council the partner will secure a long term fixed return for the investment.
There are 148 new homes (including Assisted Living apartments, Tyneside flats and bungalows) on 5 sites across the city envisaged for inclusion. This will deliver older persons housing, and an assisted living scheme.

More information

Previous notice about this procurement

Housing annuity Leaseback Model

  • Opportunity
  • Published 24 March 2017

Award information

Awarded date

2 January 2018

Contract start date

3 January 2018

Contract end date

30 August 2019

Total value of contract

£18,503,515

This contract was awarded to 1 supplier.

Tolent Living Limited

Address

Ravenworth House,
5th Ave Business Park,
Team Valley,
Gateshead,
Tyne & Wear,
NE11 0HF"

Reference

Companies House number: 9505052

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Contact name

Chris Rush

Address

Commisioning and Procurement, Civic Centre
Newcastle
NE1 8QH
England

Email

chris.rush@newcastle.gov.uk