Section one: Contracting authority
one.1) Name and addresses
Places for London
5 Endeavour Square
London
E20 1JN
Contact
Mr Paul O'Dowd
officeinvestmentportfolio@tfl.gov.uk
Telephone
+44 111111
Country
United Kingdom
Region code
UKI - London
Internet address(es)
Main address
Buyer's address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Other activity
Transport activities
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Commercial Office Investment Portfolio Joint Venture
Reference number
DN602184
two.1.2) Main CPV code
- 70110000 - Development services of real estate
two.1.3) Type of contract
Services
two.1.4) Short description
The Opportunity comprises the Bank Over Station Development (OSD), Paddington Triangle
OSD and Southwark OSD development sites. The selected partner will form a Joint Venture
(JV) with TfL to develop the sites into best in class, sustainable office assets that will drive
returns for both partners. It is anticipated that the partner and TfL will continue to hold the
developed assets in joint venture post practical completion and leasing to benefit from the
rental income.
Additional office led development sites may be acquired by the JV at a later stage.
two.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £1,100,000,000
two.2) Description
two.2.2) Additional CPV code(s)
- 66122000 - Corporate finance and venture capital services
- 70110000 - Development services of real estate
- 70120000 - Buying and selling of real estate
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
The Opportunity comprises the Bank Over Station Development (OSD), Paddington Triangle
OSD and Southwark OSD development sites. The selected partner will form a Joint Venture
(JV) with TfL to develop the sites into best in class, sustainable office assets that will drive
returns for both partners. It is anticipated that the partner and TfL will continue to hold the
developed assets in joint venture post practical completion and leasing to benefit from the
rental income.
Additional office led development sites may be acquired by the JV at a later stage.
The JV will develop the three sites with the delivery of c. 600,000 ft2 net internal area of
office space and ancillary retail space. Planning permission has been received and
implemented for Bank OSD and Paddington OSD. Southwark OSD has received resolution to
grant planning permission.
two.2.5) Award criteria
Quality criterion - Name: Technical / Weighting: 60
Price - Weighting: 40
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Competitive dialogue
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.1) Previous publication concerning this procedure
Notice number: 2022/S 000-013531
Section five. Award of contract
Contract No
TfL95150
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
11 July 2023
five.2.2) Information about tenders
Number of tenders received: 3
Number of tenders received from SMEs: 0
Number of tenders received from tenderers from other EU Member States: 0
Number of tenders received from tenderers from non-EU Member States: 0
Number of tenders received by electronic means: 3
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Helical PLC
5 Hanover Square
London
W1S 1HQ
Country
United Kingdom
NUTS code
- UK - United Kingdom
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Initial estimated total value of the contract/lot: £900,000,000
Total value of the contract/lot: £1,100,000,000
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
Transport for London
5 Endeavour Square
London
E20 1JN
Country
United Kingdom