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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 15:55

Award Notice
Tender

01 Oct 2024 at 16:01

Tender Notice
Summary of the contracting process

Essex County Council has recently completed a procurement process for the Essex Renewal Fund Services - Fund and Asset Management. This initiative falls under the category of research and development consultancy services and is primarily located in the UKH3 region. The procurement process reached the award stage on 22 April 2025; the contract is valued at GBP 1,350,406.30 and was signed on 31 March 2025. The chosen supplier, Montagu Evans LLP, is set to provide services for a term of up to ten years, focusing on fund acquisitions and asset management aimed at delivering new homes and jobs in Essex. The procurement method followed was an open procedure, ensuring wide participation and transparency.

This tender presents significant opportunities for growth, particularly for businesses involved in real estate consultancy, portfolio management, and economic development. With a focus on delivering projects that stimulate regional economic growth and create new jobs, the contract is particularly suitable for large businesses like Montagu Evans LLP. The project underscores the importance of expertise in market intelligence and real estate, proving advantageous for companies capable of offering high standards of service delivery. Moreover, there is an emphasis on quality and social value criteria, highlighting opportunities for businesses that align with Essex County Council's strategic objectives of green growth and economic levelling.

How relevant is this notice?

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.

Lot Information

Lot 1

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.

Renewal: The initial term is 60 months, with the option to extend for up to a further 60 months in total in increments of 24, 24, and 12 months.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-04a4c4
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/016310-2025
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

73 - Research and development services and related consultancy services

CPV Codes

66140000 - Portfolio management services

73200000 - Research and development consultancy services

Notice Value(s)

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

Notice Dates

Publication Date
22 Apr 20251 years ago
Submission Deadline
11 Nov 2024Expired
Future Notice Date
Not specified
Award Date
31 Mar 20251 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Essex County Council
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
CHELMSFORD
Postcode
CM1 1QH
Postcode Area
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
TLH3 Essex
Local Authority
Chelmsford
Electoral Ward
Moulsham and Central
Westminster Constituency
Chelmsford

Supplier Information

Number of Suppliers
1
Supplier Name

Montagu Evans LLP

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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