--- title: "LGPS Central UK Direct Property and Investment Manager" ocid: "ocds-b5fd17-dc99c672-6dbb-4e3a-b714-216f52014f31" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-dc99c672-6dbb-4e3a-b714-216f52014f31" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-dc99c672-6dbb-4e3a-b714-216f52014f31.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-dc99c672-6dbb-4e3a-b714-216f52014f31.json" source: "Contracts Finder" current_stage: "Tender" buyer: "LGPS CENTRAL LTD" published: "2021-06-14" --- # LGPS Central UK Direct Property and Investment Manager Buyer: LGPS CENTRAL LTD Current stage: Tender OCID: ocds-b5fd17-dc99c672-6dbb-4e3a-b714-216f52014f31 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-dc99c672-6dbb-4e3a-b714-216f52014f31) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-dc99c672-6dbb-4e3a-b714-216f52014f31.json) ## Summary The procurement process is led by LGPS Central Ltd, an investment manager based in Wolverhampton, United Kingdom. They are seeking a Property and Investment Manager for the "LGPS Central UK Direct Property and Investment Manager" tender, classified under financial and insurance services. This selective procurement is currently in the tender stage, with a closing date for submissions set for 19 July 2021. The contract period is anticipated to commence on 1 December 2021, and will extend for an initial term of seven years, with the possibility of a three-year extension. Businesses that can effectively manage property assets and provide investment advisory services will find significant opportunities in this procurement. Firms specialising in property management, real estate consultancy, and financial services may be particularly well-suited to compete, especially those with a track record in handling large investment portfolios. The potential growth of the fund, expected to increase from £150 million to approximately £500 million over seven years, further enhances the attractiveness of this opportunity for eager and capable bidders. ## Notice LGPS Central Limited (LGPS Central) is an Alternative Investment Fund Manager (AIFM) and an investment advisor, authorised and regulated by the Financial Conduct Authority (FCA). It was established to manage investment assets on behalf of eight Local Government Pension Scheme (LGPS) funds across the Midlands (Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, West Midlands, and Worcestershire) (the Partner Funds). It is jointly owned on an equal-shares basis by the eight Partner Funds. LGPS Central currently has approximately PS45bn of assets under management, including PS17bn in the LGPS Central Limited Authorised Contractual Scheme (the LGPSC ACS). It also provides consultancy and investment advisory services, to the Partner Funds. Three of the LGPS Central's Partner Funds have expressed interest in investing new monies in a pooled direct property fund and it has been agreed that such a fund will be set up as a sub-fund under a new authorised contractual scheme structure, to be known as the LGPS Central Property ACS ( the Property ACS). The sub-fund will be called the LGPS Central UK Direct Property Fund (the Fund). It is anticipated that the Fund will be launched by the end of 2021 with approximately PS150million of investment of new money from the three Partner Funds. It is expected that over time this amount will grow (expected to reach approximately PS500m in 7 years) and include cash investment from other Partner Funds. LGPS Central will be the manager of the Property ACS and wishes to appoint a property and investment manager (the P and I Manager) to: - manage, on an advisory basis, all of the assets of the Fund in accordance with the investment objective and investment policy of the Fund; and - provide day-to-day property related services, such as rent reviews, lease renewals and dilapidations. In addition, LGPS Central, in its capacity as an investment advisor may, at any time, also wish to appoint the P and I Manager as a property and investment manager in respect of Partner Fund's existing UK direct property portfolio (a Legacy Portfolio) with a view to winding down the Legacy Portfolio and reinvesting the proceeds into the Fund. Such an appointment would be a delegation from LGPS Central of the investment advisory services it has been appointed to provide to the Partner Fund in respect of a Legacy Portfolio. Therefore, the P and I Manager will only be appointed in respect of a Legacy Portfolio where LGPSC is appointed by the Partner Fund. No guarantees are given by LGPC Central to tenderers in respect of Legacy Portfolios. The appointment of the P and I Manager in respect of the above will be by way of a Master Property and Investment Management Agreement (the P and IMA). The P and IMA will be for an initial term of seven years with the option for LGPS Central to extend for a further three years. Further information can be found in the Information... Additional information: For any supplier interested in this opportunity, further information can be found in the Procurement Information Document that forms part of the procurement pack. This can be found at https://in-tendhost.co.uk/lgpscentral/aspx/Home Is a Recurrent Procurement Type? : No ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/dd096410-94a7-4192-8ba7-973a7c220e9e | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Selective | | Procurement method details | Competitive dialogue (above threshold) | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 14 Jun 2021 | | Submission deadline | 19 Jul 2021 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 1 Dec 2021 - 1 Dec 2028 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | Not specified | | 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 | LGPS CENTRAL LTD | | Locality | WOLVERHAMPTON | | Post town | Wolverhampton | | Postcode | WV1 3NB | | Country | England | | ITL 1 | TLG West Midlands (England) | | ITL 2 | TLG3 West Midlands | | ITL 3 | TLG39 Wolverhampton | | Local authority | Wolverhampton | | Electoral ward | St Peters | | Westminster constituency | Wolverhampton West | | Delivery location | TLG West Midlands (England) | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services ## Release History - 14 Jun 2021 at 11:12 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/dd096410-94a7-4192-8ba7-973a7c220e9e ## Documents - https://www.contractsfinder.service.gov.uk/Notice/dd096410-94a7-4192-8ba7-973a7c220e9e 14th June 2021 - Opportunity notice on Contracts Finder - https://in-tendhost.co.uk/LGPSCentral/aspx/ Additional information on how to apply for this contract ## Notice URLs - https://in-tendhost.co.uk/lgpscentral/aspx/Home ## 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-dc99c672-6dbb-4e3a-b714-216f52014f31. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-dc99c672-6dbb-4e3a-b714-216f52014f31.json.