Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
Essex County Council
County Hall, Market Road
Chelmsford
CM1 1QH
UK
Contact person: Mr Joshua Carter
Telephone: +44 333
E-mail: joshua.carter@essex.gov.uk
NUTS: UKH3
Internet address(es)
Main address: https://www.essex.gov.uk/
Address of the buyer profile: https://www.essex.gov.uk/
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
Essex Renewal Fund Services - Fund and Asset Management
Reference number: DN660817
II.1.2) Main CPV code
73200000
II.1.3) Type of contract
Services
II.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.
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
1 350 406.30
GBP
II.2) Description
II.2.2) Additional CPV code(s)
66140000
II.2.3) Place of performance
NUTS code:
UKH3
II.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.
II.2.5) Award criteria
Quality criterion: Quality
/ Weighting: 55
Quality criterion: Social Value
/ Weighting: 5
Price
/ Weighting:
40
II.2.11) Information about options
Options:
No
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
No
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Open procedure
IV.1.8) Information about 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
Notice number in the OJ S:
2024/S 000-031422
IV.2.9) Information about termination of call for competition in the form of a prior information notice
The contracting authority will not award any further contracts based on the above prior information notice
Section V: Award of contract
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
31/03/2025
V.2.2) Information about tenders
Number of tenders received: 2
Number of tenders received from SMEs: 0
Number of tenders received from tenderers from EU Member States: 0
Number of tenders received from tenderers from non-EU Member States: 2
Number of tenders received by electronic means: 2
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
Montagu Evans LLP
70 St Mar Axe
London
EC3A 8BE
UK
NUTS: UKH3
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 1 350 406.30
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.4) Procedures for review
VI.4.1) Review body
High Court
Royal Courts of Justice, The Strand
London
WC2A 2LL
UK
VI.5) Date of dispatch of this notice
22/04/2025