--- title: "Build to Rent Joint Venture Investment Partner" ocid: "ocds-b5fd17-7b68fbc1-8f74-4698-b951-e7c8cc37657f" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-7b68fbc1-8f74-4698-b951-e7c8cc37657f" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-7b68fbc1-8f74-4698-b951-e7c8cc37657f.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-7b68fbc1-8f74-4698-b951-e7c8cc37657f.json" source: "Contracts Finder" current_stage: "Tender" buyer: "TRANSPORT FOR LONDON" published: "2018-09-24" --- # Build to Rent Joint Venture Investment Partner Buyer: TRANSPORT FOR LONDON Current stage: Tender OCID: ocds-b5fd17-7b68fbc1-8f74-4698-b951-e7c8cc37657f [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-7b68fbc1-8f74-4698-b951-e7c8cc37657f) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-7b68fbc1-8f74-4698-b951-e7c8cc37657f.json) ## Summary Transport for London is currently in the tender stage for the project titled "Build to Rent Joint Venture Investment Partner". This initiative is set within the real estate services sector and targets London. The tender was published on 24th September 2018, with a deadline for submissions set for 24th October 2018. The project is valued at £20 million and seeks an investment partner to co-invest in a new joint venture focused on developing Build to Rent units across various TfL-owned sites, potentially delivering over 3,000 housing units in the next five to ten years. This tender presents a significant opportunity for businesses specialising in real estate investments or development, particularly those experienced in Build to Rent models. Firms that can demonstrate relevant investment experience in large-scale residential projects may find this venture highly compatible with their capabilities. The growing demand for rental properties in London offers a fertile ground for investors looking to expand their portfolios in the booming property market. ## Notice TfL is seeking to appoint an investment partner to co-invest in a new corporate joint venture vehicle. The vehicle shall have the right to purchase (on market terms) an Anticipated Seed Portfolio of up to 10 sites currently in TfL' s ownership in the expectation that, thereafter, it shall develop private rental units (Build to Rent (BtR) units) on those sites. TfL expects the equity proportions to be 49% TfL to 51% private investor. The BtR Investment Partnership (the Partnership) will offer a rare opportunity to invest in BtR across London at a considerable scale. The Partnership will have the ability to achieve significant scale through potential access to TfL's wider landholdings, which includes in excess of 400 sites across London and the potential to deliver tens of thousands of homes. The Anticipated Seed Portfolio has excellent diversification across London in terms of scale, location and accessibility, with the potential to deliver in excess of 3,000 units over the next five to ten years. The Anticipated Seed Portfolio currently includes development sites at Nine Elms, Southall, Woolwich, Canning Town, Arnos Grove, Cockfosters, Hounslow West, Montford Place, Newbury Park and Wembley Park. In addition to investing in direct delivery, it is envisaged that The Partnership may seek to acquire units in completed developments. This exercise is to select an investor only and is not to procure works, supplies or services. TfL is looking for an investment partner with experience of investing in build to rent developments in order to maximise the capital value of its surplus sites. It will therefore will be testing for the appropriate investment experience that will leave the resulting JV well placed to appoint an appropriate and cost effective supply chain once the business is underway in order to maximise return at investment level, not at supply chain level. For more information please email TfLBtR@savills.com or visit https://sites.savills.com/TfLBtR, from which you can access the following additional documents: - Investment Memorandum - Expression of Interest form and questionnaire ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/fdab6d5c-0dcf-4a75-9d1b-fbcc554bcdc1 | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Not specified | | Procurement method | Not Specified | | Procurement method details | Other - Competitive procedure outside the Regulations | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 24 Sep 2018 | | Submission deadline | 24 Oct 2018 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 30 Jun 2019 - 30 Jun 2048 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £20,000,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | TRANSPORT FOR LONDON | | Locality | LONDON | | Post town | South West London | | Postcode | SW1H 0BD | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI3 Inner London - West | | ITL 3 | TLI35 Westminster and City of London | | Local authority | Westminster | | Electoral ward | St James's | | Westminster constituency | Cities of London and Westminster | | Delivery location | TLI London | ## CPV Codes ### Divisions - 70 - Real estate services ### Codes - 70000000 - Real estate services ## Release History - 24 Sep 2018 at 08:19 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/fdab6d5c-0dcf-4a75-9d1b-fbcc554bcdc1 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/fdab6d5c-0dcf-4a75-9d1b-fbcc554bcdc1 24th September 2018 - Opportunity notice on Contracts Finder - https://sites.savills.com/TfLBtR ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-7b68fbc1-8f74-4698-b951-e7c8cc37657f. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-7b68fbc1-8f74-4698-b951-e7c8cc37657f.json.