Decision Maker: Cabinet Member for Finance and Resources
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
This report seeks approval by the Cabinet Member for Finance and Resources to commence the procurement process for the provision of a Commercial Property Agent.
The County Council commenced a programme to acquire commercial investments following approval of its Asset Management Policy and Strategy in August 2018. It has since acquired two commercial investment properties for revenue return one in Crawley, in November 2018 and one in Hove, in February 2019.
Procurement of a Commercial Property Agent is now proposed via a mini competition from the Homes England Property Professional Services Framework. The Agent will advise the County Council on the acquisition of additional property for its investment portfolio and manage the portfolio, including provision of advice on performance, lease renewal negotiations and rent review negotiations.
The Cabinet Member has endorsed:
1. The commencement of the procurement process for the provision of a Commercial Property Agent services contract for a period of 3 years, with the County Council having the option to extend the contract for a further period of up to 6 months (maximum contract period 3.5 years) subject to satisfactory contract performance, review of consultants’ capacity, and/or a major review of the professional services needed or the portfolio; and that
2. Authority is delegated to Director of Property and Assets to award the contract to the bidder submitting the most advantageous tender in terms of quality and price.
Publication date: 27/08/2019
Date of decision: 27/08/2019
Effective from: 06/09/2019