Notice Information
Notice Title
Soft Market Testing - Sale of Commerical Property Portfolio
Notice Description
Aberdeen City Council are looking for expressions of interest from parties who may have an interest in acquiring a commercial property portfolio in individual Lots or as a trading entity. The Council is investigating the option of offering for sale its portfolio of ground leases including industrial and development land. The portfolio has a good and strong asset base underwritten by industrial ground leases which offer secure income with limited risk. The portfolio currently generates an annual income of approximately 5 million GBP. The portfolio on offer excludes some key strategic locations including city shopping centre leases, TECA and the recent new development at Marischal Square.
Lot Information
Lot 1
The council are seeking to engage with the market to gauge market sentiment and interest should they chose to disinvest in part of their portfolio. We would also ask that you respond to this Notice on the following points: - Would the portfolio be attractive to you as one or multiple lots - Which property types would be most attractive to you. - What size(s) of lot (capital value) would be easiest to fund. - What number of units would you consider. - Would you wish to purchase the portfolio as a land transaction or as a going concern? Please respond directly to STBooth@aberdeencity.gov.uk. Initial expressions of interest should be noted through this PCS Portal. Interested providers will then be invited to visit the sites(s)and discuss their proposal. It is anticipated that this will take place w/c 3rd June 2020.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-r6ebe6-0000612601
- Publication Source
- Public Contracts Scotland
- Latest Notice
- https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=FEB379194
- Current Stage
- Planning
- All Stages
- Planning
Procurement Classification
- Notice Type
- OJEU - F1 - Prior Information Notice
- Procurement Type
- Standard
- Procurement Category
- Services
- Procurement Method
- Not Specified
- Procurement Method Details
- Not specified
- Tender Suitability
- Not specified
- Awardee Scale
- Not specified
Common Procurement Vocabulary (CPV)
- CPV Divisions
70 - Real estate services
-
- CPV Codes
70220000 - Non-residential property renting or leasing services
70310000 - Building rental or sale services
70320000 - Land rental or sale services
70321000 - Land rental services
70322000 - Vacant-land rental or sale services
Notice Value(s)
- Tender Value
- £45,000,000 £10M-£100M
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- Not specified
Notice Dates
- Publication Date
- 30 Jan 20206 years ago
- Submission Deadline
- Not specified
- Future Notice Date
- 15 May 2020Expired
- Award Date
- Not specified
- Contract Period
- Not specified - Not specified
- Recurrence
- Not specified
Notice Status
- Tender Status
- Planned
- Lots Status
- Planned
- Awards Status
- Not Specified
- Contracts Status
- Not Specified
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- ABERDEEN CITY COUNCIL
- Contact Name
- Not specified
- Contact Email
- cpssprocurement@aberdeencity.gov.uk
- Contact Phone
- +44 1467530600
Buyer Location
- Locality
- ABERDEEN
- Postcode
- AB16 5GB
- Post Town
- Aberdeen
- Country
- Scotland
-
- Major Region (ITL 1)
- TLM Scotland
- Basic Region (ITL 2)
- TLM5 North Eastern Scotland
- Small Region (ITL 3)
- TLM50 Aberdeen City and Aberdeenshire
- Delivery Location
- TLM50 Aberdeen City and Aberdeenshire
-
- Local Authority
- Aberdeen City
- Electoral Ward
- Midstocket/Rosemount
- Westminster Constituency
- Aberdeen North
Further Information
Notice Documents
-
https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=FEB379194&idx=1
3rd February 2020 - Breakdown of Property Types / Rental Income -
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=FEB379194
Soft Market Testing - Sale of Commerical Property Portfolio - Aberdeen City Council are looking for expressions of interest from parties who may have an interest in acquiring a commercial property portfolio in individual Lots or as a trading entity. The Council is investigating the option of offering for sale its portfolio of ground leases including industrial and development land. The portfolio has a good and strong asset base underwritten by industrial ground leases which offer secure income with limited risk. The portfolio currently generates an annual income of approximately 5 million GBP. The portfolio on offer excludes some key strategic locations including city shopping centre leases, TECA and the recent new development at Marischal Square.
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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"description": "In 2015 Aberdeen City Council adopted its City Centre Masterplan, a 25 year vision for the transformation of the City Centre. As part of this Aberdeen has a significant and ambitious investment plan including refurbishment of Aberdeen Art Gallery (30m GBP) and Music Hall (7m GBP), key cultural and historic venues at the heart of the City along with the 333m GBP investment in The Events Complex Aberdeen (TECA), the largest ever single investment in a venue in the UK, that demonstrates the ambition of Aberdeen City Council to diversify the local economy and draw an estimated 4.5 million additional visitors to the City. Coupled with other key projects such as the 107m GBP Marischal Square development, which has begun the regeneration and stimulation of the historic, civic core of Aberdeen along with Queen Street, the next phase of opportunity Aberdeen City Council is now seeking to dispose of its other commercial ground leases as part of the rationalisation of its property portfolio. In 2019, as part of the Council's budget setting and priority making process it was agreed to rationalise its property and estates portfolio, which largely dates back to the former District and Regional councils. This excludes TECA, Marischal Square and some other sits, but remains a rare opportunity for those interested in taking a longer-term investment view on returns and who may be willing to working with existing tenants to grow within the portfolio or to develop new opportunities. The portfolio has a good asset base underwritten by industrial ground leases which offer secure income with limited risk. The portfolio comprises approximately 130 ground leases. NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at https://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=612601. (SC Ref:612601)",
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