UK Property Management Services for the RBKC Pension Fund

UK Property Management Services for the RBKC Pension Fund

To help the pension fund build and maintain a direct property portfolio.

United Kingdom-London: Real estate agency services on a fee or contract basis

2019/S 016-033890

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

The Royal Borough of Kensington and Chelsea
Kensington Town Hall, Hornton Street
London
W8 7NX
United Kingdom
Contact person: Matthew Hopson
E-mail: mhopson@westminster.gov.uk
NUTS code: UKI33
Internet address(es):Main address: www.rbkc.gov.uk

Address of the buyer profile: www.rbkc.gov.uk

I.2)Information about joint procurement

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: www.capitalesourcing.com
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: www.capitalesourcing.com
Tenders or requests to participate must be submitted to the abovementioned address

I.4)Type of the contracting authority

Regional or local authority

I.5)Main activity

General public services

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

UK Property Management Services for the RBKC Pension Fund

Reference number: prj_RBKC_12376; itt_RBKC_9640

II.1.2)Main CPV code

70300000

II.1.3)Type of contract

Services

II.1.4)Short description:

The Royal Borough of Kensington and Chelsea Pension Fund the (“Pension Fund”) operating under the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016 (SI 2016/946) is seeking to increase its allocation to UK property investments from the current level of around 5 % to around 20 %, through a bespoke segregated property portfolio. This invitation to tender invites proposals from parties with the capability to help the pension fund build and maintain a direct property portfolio and to provide on-going management services for the portfolio, including to:

— advise on property acquisitions and disposals,

— execute acquisitions and disposals, including contract negotiations and executions,

— manage interacting with tenants and property management, including rent roll,

— advise the Investment Committee on strategy and

— consider and implement structures to hold assets.

II.1.5)Estimated total value

Value excluding VAT: 4 000 000.00 GBP

II.1.6)Information about lots

This contract is divided into lots: no
II.2)Description
II.2.1)Title:

II.2.2)Additional CPV code(s)

66523000
70120000
70330000

II.2.3)Place of performance

NUTS code: UKI33
Main site or place of performance:

The Royal Borough of Kensington and Chelsea, London, England, UK.

II.2.4)Description of the procurement:

The Royal Borough of Kensington and Chelsea Pension Fund the (“Pension Fund”) operating under the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016 (SI 2016/946) is seeking to increase its allocation to UK property investments from the current level of around 5 % to around 20 %, through a bespoke segregated property portfolio. This invitation to tender invites proposals from parties with the capability to help the pension fund build and maintain a direct property portfolio and to provide on-going management services for the portfolio, including to:

— advise on property acquisitions and disposals,

— execute acquisitions and disposals, including contract negotiations and executions,

— manage interacting with tenants and property management, including rent roll,

— advise the Investment Committee on strategy and

— consider and implement structures to hold assets.

This contract will have no fixed term. The date given in this notice is purely notional. The value given for the contract is based on the method prescribed by Article 5(14)(b) of Directive 2014/24/EU.

II.2.5)Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents

II.2.6)Estimated value

Value excluding VAT: 4 000 000.00 GBP

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Start: 10/05/2019
End: 09/05/2034
This contract is subject to renewal: yes
Description of renewals:

The end date is notional. The contract may, at the discretion of the Contracting Authority, continue indefinitely.

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: yes
Description of options:

The end date is notional. The contract may, at the discretion of the Contracting Authority continue indefinitely.

II.2.12)Information about electronic catalogues

II.2.13)Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no

II.2.14)Additional information

This contract will not be divided into lots as it would not be in the Contracting Authority’s best economic interest to do so.

As there is no fixed end date, the estimated value is based on 48 months of the contract. The actual value will depend upon the level of activity and the estimate should be taken as purely notional.

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation
III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

III.1.2)Economic and financial standing

Selection criteria as stated in the procurement documents

III.1.3)Technical and professional ability

List and brief description of selection criteria:

Assurance standard ISAE3402 or equivalent will be required.

The service provider must be willing to become a signatory to the Code of Transparency for LGPS asset managers.

Other conditions set in the Procurement Documents apply.

Minimum level(s) of standards possibly required:

Satisfaction of minimum standards for professional and technical ability is subject to verification before the award of contract.

III.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about a particular profession

III.2.2)Contract performance conditions:

Tenderers are invited to submit their own terms and conditions of contract. However, certain requirements and stipulations concerning indemnity and termination are set out in the Procurement Documents.

III.2.3)Information about staff responsible for the performance of the contract

Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract

Section IV: Procedure

IV.1)Description

IV.1.1)Type of procedure

Open procedure
IV.1.3)Information about a framework agreement or a dynamic purchasing system
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.6)Information about electronic auction

IV.1.8)Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: yes
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 25/02/2019
Local time: 12:00
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English

IV.2.6)Minimum time frame during which the tenderer must maintain the tender

Duration in months: 6 (from the date stated for receipt of tender)

IV.2.7)Conditions for opening of tenders

Date: 25/02/2019
Local time: 12:01
Place:

Electronic opening of tenders.

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no

VI.2)Information about electronic workflows

Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used
VI.3)Additional information:
VI.4)Procedures for review

VI.4.1)Review body

The Royal Courts of Justice
The Strand, Holborn
London
WC2A 2LL
United Kingdom
Telephone: +44 207947-6000Internet address: https://www.justice.gov.uk/courts/rcj-rolls-building
VI.4.2)Body responsible for mediation procedures

VI.4.3)Review procedure

Precise information on deadline(s) for review procedures:

Please see Part 3 Chapter 5 Public Contracts Regulations 2015.

VI.4.4)Service from which information about the review procedure may be obtained

VI.5)Date of dispatch of this notice:

21/01/2019

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