Award

Awarded Contract: UK Property Management Services for the RBKC Pension Fund

CAPITALESOURCING

This public procurement record has 3 releases in its history.

AwardUpdate

24 May 2019 at 09:51

Award Notice
Award

24 May 2019 at 09:48

Award Notice
Tender

21 Jan 2019 at 06:47

Tender Notice
Summary of the contracting process

The Royal Borough of Kensington and Chelsea Pension Fund has awarded a contract for UK Property Management Services, aimed at increasing its property investment allocation from approximately 5% to 20% within a bespoke segregated property portfolio. The procurement process, classified under real estate agency services, was executed through an open method, allowing broad participation. The contract period starts on 13 May 2019 and extends until 12 May 2034, with an overall contract value of £6,160,000 awarded to CBRE Limited. The tender was published on 21 January 2019, and the tender period closed on 25 February 2019.

This awarded contract presents significant opportunities for businesses specialising in property management and consultancy services, particularly those with expertise in property acquisitions, portfolio management, and strategic advising. Small and medium enterprises (SMEs) may find this tender especially appealing, as it is designed to promote SME participation. Businesses capable of executing property transactions and offering ongoing management services will be well-suited to leverage this opportunity for growth in the public sector market.

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Notice Information

Notice Title

Awarded Contract: UK Property Management Services for the RBKC Pension Fund

Notice 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 Additional information: This procurement was executed through the Council's electronic procurement portal, capitalEsourcing.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e049030b-0324-4a42-9db9-4dd27c8fd53c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/3f25bc0b-f26d-4383-8d32-1740fbefd867
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 (above threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

70 - Real estate services

CPV Codes

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

Notice Value(s)

Tender Value
£17,100,000 £10M-£100M
Lots Value
Not specified
Awards Value
£6,160,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
24 May 20196 years ago
Submission Deadline
25 Feb 2019Expired
Future Notice Date
Not specified
Award Date
24 Apr 20196 years ago
Contract Period
12 May 2019 - 12 May 2034 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
CAPITALESOURCING
Contact Name
The Royal Borough of Kensington and Chelsea
Contact Email
m.hopson@westminster.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
W8 7NX
Post Town
West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI33 Kensington & Chelsea and Hammersmith & Fulham
Delivery Location
TLI London
Local Authority
Kensington and Chelsea
Electoral Ward
Campden
Westminster Constituency
Kensington and Bayswater

Supplier Information

Number of Suppliers
1
Supplier Name

CBRE

Further Information

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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