Award

Essex Renewal Fund Services - Fund and Asset Management

ESSEX COUNTY COUNCIL

This public procurement record has 2 releases in its history.

Award

22 Apr 2025 at 14:59

Award Notice
Tender

01 Oct 2024 at 15:02

Tender Notice
Summary of the contracting process

Essex County Council has issued a procurement process titled "Essex Renewal Fund Services - Fund and Asset Management" within the banking and investment services industry category. This contract will involve the management of the Essex Renewal Fund, which is aimed at fostering economic growth and development across Essex through strategic property projects. The procurement was executed using an open procedure and is currently in the award stage, having been completed. The process commenced with a tender period ending on 11th November 2024 and the contract is set to run from 1st March 2025 to 28th February 2030. The project is located in England, United Kingdom, with the successful bid awarded to Montagu Evans LLP on 31st March 2025, valued at approximately £1.35 million.

This procurement offers significant business growth opportunities by catering to those providing specialised fund and asset management services, as well as those capable of engaging in property-related investments and consultancy. It is particularly suitable for small and medium enterprises with the agility to offer innovative solutions in banking and investment services. Companies looking to expand their portfolios in public sector projects or those aiming to contribute to regional economic development might find this tender advantageous. The project’s emphasis on green growth and job creation in Essex aligns well with businesses prioritising sustainable development practices.

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Notice Information

Notice Title

Essex Renewal Fund Services - Fund and Asset Management

Notice Description

Essex County Council is seeking external support to provide up to ten years (five initial years with options to extend) of fund and asset management services, leading on fund acquisitions and disposals for the Essex Renewal Fund. The Essex Renewal Fund ("ERF") is a revolving investment fund supporting the delivery of new homes and jobs. It does this through land and property projects that the market wouldn't deliver - or, may not deliver to such high standards. It is important that the Fund has a catalytic impact beyond projects that it delivers directly, by building confidence in Essex places and markets. This requires careful fund and asset management, underpinned by robust market intelligence and sound real estate consultancy. The fund, supporting ECCs commitment to good jobs, future growth and investment, green growth and levelling up the economy, has a number of portfolio and project-level controls to adhere to. It also has an existing portfolio of three commercial properties and will be supported by an internal term alongside fund and project related external consultants.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-7509d4c5-4f54-4cf9-8aed-e6242c33ef02
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/afae25b2-90a3-4702-bc88-81cc2606f52c
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66100000 - Banking and investment services

Notice Value(s)

Tender Value
£2,500,000 £1M-£10M
Lots Value
Not specified
Awards Value
£1,350,406 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
22 Apr 202510 months ago
Submission Deadline
11 Nov 2024Expired
Future Notice Date
Not specified
Award Date
30 Mar 202510 months ago
Contract Period
31 Mar 2025 - 31 Mar 2030 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
ESSEX COUNTY COUNCIL
Contact Name
Josh Carter
Contact Email
joshua.carter@essex.gov.uk
Contact Phone
+44 333

Buyer Location

Locality
CHELMSFORD
Postcode
CM1 1QH
Post Town
Chelmsford
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH3 Essex
Small Region (ITL 3)
TLH36 Heart of Essex
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
Chelmsford
Electoral Ward
Moulsham and Central
Westminster Constituency
Chelmsford

Supplier Information

Number of Suppliers
1
Supplier Name

MONTAGU EVANS

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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