Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
The Royal Borough of Kensington and Chelsea
Kensington Town Hall, Hornton Street
London
W8 7NX
UK
Contact person: Matthew Hopson
E-mail: mhopson@westminster.gov.uk
NUTS: UKI33
Internet address(es)
Main address: www.rbkc.gov.uk
Address of the buyer profile: www.rbkc.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
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. The award of this contract will help the pension fund build and maintain a direct property portfolio and provide on-going management services for the portfolio, including:
— advice on property acquisitions and disposals,
— acquisitions and disposals, including contract negotiations and executions,
— management of interactions with tenants and property management, including rent roll,
— advice to the investment committee on strategy, and
— consideration and implementation of structures to hold assets.
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
6 160 000.00
GBP
II.2) Description
II.2.3) Place of performance
NUTS code:
UKI33
Main site or place of performance:
The Royal Borough of Kensington and Chelsea.
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. The award of this contract will help the pension fund build and maintain a direct property portfolio and provide on-going management services for the portfolio, including:
— advice on property acquisitions and disposals,
— acquisitions and disposals, including contract negotiations and executions,
— management of interactions with tenants and property management, including rent roll,
— advice to the investment committee on strategy, and
— consideration and implementation of structures to hold assets.
This contract has no fixed term. The date given in this notice is purely notional. The estimated value given for the contract was based on the method prescribed by Article 5(14)(b) of Directive 2014/24/EU.
II.2.5) Award criteria
Quality criterion: Expertise and competence as an adviser
/ Weighting: 50
Quality criterion: Ability to execute successfully
/ Weighting: 25
Quality criterion: Track record
/ Weighting: 12.5
Quality criterion: Reporting and transparency
/ Weighting: 12.5
Price
/ Weighting:
40 %
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.2.13) 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
The technical (quality) award criteria were subjected to an overall weighting of 60 %.
This contract has not been divided into lots as it would not be in the Contracting Authority's best economic interest to do so.
The actual value of the contract will depend upon the level of activity.
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:
2019/S 016-033890
Section V: Award of contract
Title: UK Property Management Services for the RBKC Pension Fund
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
22/05/2019
V.2.2) Information about tenders
Number of tenders received: 20
Number of tenders received from SMEs: 12
Number of tenders received by electronic means: 20
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
CBRE Ltd
03536032
St Martin's Court, Paternoster Row
London
EC4M 7HP
UK
NUTS: UKI31
Internet address(es)
URL: https://www.cbre.co.uk/services/industries-and-specialties/london
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Initial estimated total value of the contract/lot:
Total value of the contract/lot:
: 6 160 000.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.3) Additional information
This procurement was executed through the Council's electronic procurement portal, capitalEsourcing.
VI.4) Procedures for review
VI.4.1) Review body
The Royal Courts of Justice
The Strand, Holborn
London
WC2A 2LL
UK
Telephone: +44 207947-6000
Internet address(es)
URL: https://www.justice.gov.uk/courts/rcj-rolls-building
VI.4.3) Review procedure
Precise information on deadline(s) for review procedures:
Regulations 86 — 102 of the Public Contracts Regulations 2015 (SI 102/2015) refer.
VI.5) Date of dispatch of this notice
22/05/2019