Summary of the contracting process

Essex County Council is initiating a tender seeking external support for the Essex Renewal Fund Services in the domain of fund and asset management. The contract, titled "Essex Renewal Fund Services - Fund and Asset Management", is classified under banking and investment services (CPV code 66100000) and will involve managing fund acquisitions and disposals over a period of up to ten years. The tender is currently active and in the procurement stage. Prospective bidders must submit their proposals electronically through the Council's e-tendering portal, ProContract, by 12:00 PM on 11th November 2024. The procurement process will follow an open procedure, and the total estimated contract value is £2,500,000. The procurement is focused on services delivered primarily in the UKH3 region (Eastern England).

This tender presents significant opportunities for businesses specialising in fund and asset management, particularly those experienced in handling complex property and real estate projects. Small and medium enterprises (SMEs) are encouraged to participate, provided they meet the selection criteria. By engaging in this contract, businesses can leverage their expertise to contribute to the Essex Renewal Fund's mission of boosting local economic growth and housing development. Companies with a strong background in real estate consultancy and market intelligence will thrive, as the project necessitates robust management and strategic insight to achieve its catalytic impact.

Tender

Essex Renewal Fund Services - Fund and Asset Management

ESSEX COUNTY COUNCIL

Contract Timeline

Publication Date

1st October 2024 15:01:23 PM

Tender Deadline

11th November 2024 12:00:00 PM 36 days remaining
Contract Summary

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.
Contract Details

Open Contracting ID

ocds-h6vhtk-04a4c4

Publication Source

Find a Tender Service

Procurement Stage

Tender

Procurement Method

Open

Procurement Method Details

Open Procedure

Procurement Category

Services

Tender Suitability

Framework / DPS
Contract Classification

CPV Code(s)

66100000

CPV Division(s)

66 - Financial and insurance services
Awarding Authority

ESSEX COUNTY COUNCIL

Buyer Name

Mr Josh Carter

Buyer Email

joshua.carter@essex.gov.uk

Buyer Phone

+44 333

Buyer Address

County Hall, Market Road

Chelmsford

CM1 1QH

United Kingdom

View contract on Find a Tender Service

Essex Renewal Fund Services - Fund and Asset Management

ESSEX COUNTY COUNCIL

Contract Timeline

Contract Summary

Contract Details

Contract Classification

Awarding Authority