Section one: Contracting authority
one.1) Name and addresses
Essex County Council
County Hall, Market Road
Chelmsford
CM1 1QH
Contact
Mr Josh Carter
Telephone
+44 333
Country
United Kingdom
Region code
UKH3 - Essex
Internet address(es)
Main address
Buyer's address
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://procontract.due-north.com/
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://procontract.due-north.com/
one.4) Type of the contracting authority
Regional or local authority
one.5) Main activity
General public services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Essex Renewal Fund Services - Fund and Asset Management
Reference number
DN660817
two.1.2) Main CPV code
- 66100000 - Banking and investment services
two.1.3) Type of contract
Services
two.1.4) Short description
Essex County Council is seeking external support to provide up to ten years (five initial years with options to extend) of fund and asset management services, leading on fund acquisitions and disposals for the Essex Renewal Fund.
The Essex Renewal Fund (“ERF”) is a revolving investment fund supporting the delivery of new homes and jobs. It does this through land and property projects that the market wouldn’t deliver – or, may not deliver to such high standards. It is important that the Fund has a catalytic impact beyond projects that it delivers directly, by building confidence in Essex places and markets. This requires careful fund and asset management, underpinned by robust market intelligence and sound real estate consultancy.
The fund, supporting ECCs commitment to good jobs, future growth and investment, green growth and levelling up the economy, has a number of portfolio and project-level controls to adhere to. It also has an existing portfolio of three commercial properties and will be supported by an internal term alongside fund and project related external consultants.
two.1.5) Estimated total value
Value excluding VAT: £2,500,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66140000 - Portfolio management services
two.2.3) Place of performance
NUTS codes
- UKH3 - Essex
two.2.4) Description of the procurement
Essex County Council is seeking external support to provide up to ten years (five initial years with options to extend) of fund and asset management services, leading on fund acquisitions and disposals for the Essex Renewal Fund.
The Essex Renewal Fund (“ERF”) is a revolving investment fund supporting the delivery of new homes and jobs. It does this through land and property projects that the market wouldn’t deliver – or, may not deliver to such high standards. It is important that the Fund has a catalytic impact beyond projects that it delivers directly, by building confidence in Essex places and markets. This requires careful fund and asset management, underpinned by robust market intelligence and sound real estate consultancy.
The fund, supporting ECCs commitment to good jobs, future growth and investment, green growth and levelling up the economy, has a number of portfolio and project-level controls to adhere to. It also has an existing portfolio of three commercial properties and will be supported by an internal term alongside fund and project related external consultants.
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 55
Quality criterion - Name: Social Value / Weighting: 5
Price - Weighting: 40
two.2.6) Estimated value
Value excluding VAT: £2,500,000
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
60
This contract is subject to renewal
Yes
Description of renewals
The initial term is 60 months, with the option to extend for up to a further 60 months in total in increments of 24, 24, and 12 months.
two.2.10) Information about variants
Variants will be accepted: No
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 three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.1) Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
List and brief description of conditions
In relation to conditions for participation section III of the notice, the stated selection criteria is as stated in the procurement documentation.
three.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
three.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
three.2) Conditions related to the contract
three.2.2) Contract performance conditions
In relation to conditions for participation section III of the notice, the stated selection criteria is as stated in the procurement documentation.
three.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 four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
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.2.2) Time limit for receipt of tenders or requests to participate
Date
11 November 2024
Local time
12:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.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)
four.2.7) Conditions for opening of tenders
Date
11 November 2024
Local time
12:00pm
Place
Via Procontract
Information about authorised persons and opening procedure
The commercial officer will conduct the opening process via the functionality within the Council's e-sourcing portal, ProContract. No postal responses or any submissions which are issued outside the electronic portal will be accepted.
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.3) Additional information
The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement. Candidates are welcome to bid for either single or multiple lots of this procurement. Candidates are advised this procurement will be conducted via the Council's e-tendering portal, ProContract, which can be accessed via the following website:
https://procontract.due-north.com/Login
Please register for a user account to gain access to the procurement documentation for this opportunity. The Council envisages that this procurement will be published on the aforementioned esourcing portal on Tuesday 1st October 2024 . However, the Council reserves the right to postpone the publication in order to ensure suitable assurance that the tender documents are fit for purpose. Once the procurement is published a corresponding advertisement will be available via the Council's e-tendering portal, ProContract to enable prospective bidders to access, view and respond to this opportunity.
six.4) Procedures for review
six.4.1) Review body
High Court
Royal Courts of Justice, The Strand
London
WC2A 2LL
Country
United Kingdom