Property Investment Manager for West Sussex Pension Fund

Tender description

This Invitation to Negotiate (ITN) is issued by West Sussex County Council on behalf of West Sussex Pension Fund (WSPF) who are seeking to appoint a single Property Investment Manager who is able to deliver their UK direct property mandate, as described in Document 02 – Specification, in accordance with the Public Contracts Regulations 2015 (PCR 2015).<br/><br/>This Procurement is being undertaken in accordance with the Competitive Procedure with Negotiation pursuant to Regulation 29 of the Public Contracts Regulations 2015. Although the Council is utilising the Competitive Procedure with Negotiation route, it reserves the right to award the contract on the basis of the initial tenders without conducting negotiations.<br/><br/>It is anticipated that the Contract will be awarded for an initial period of 7 years from the Contract Effective Date, with an option to extend on the same terms and conditions at WSCC’s discretion by up to an additional 3 years in any combination.<br/><br/>The contract start date (Effective Date) shall be 01 January 2025 following an implementation period.<br/><br/>The estimated value of the contract over the full term (initial period and extensions) is £15m.<br/><br/>The process will be split into the following stages:<br/><br/>Stage 1: Selection Questionnaire (SQ) submission <br/>Stage 2: Initial Tender Submission <br/>Stage 3: Negotiations and Final Tenders (up to 4 Bidders will be invited to this stage)<br/>Stage 4: Contract Award Lot 1: This Invitation to Negotiate (ITN) is issued by West Sussex County Council on behalf of West Sussex Pension Fund (WSPF) who are seeking to appoint a single Property Investment Manager who is able to deliver their UK direct property mandate, as described in Document 02 – Specification, in accordance with the Public Contracts Regulations 2015 (PCR 2015).<br/><br/>This Procurement is being undertaken in accordance with the Competitive Procedure with Negotiation pursuant to Regulation 29 of the Public Contracts Regulations 2015. Although the Council is utilising the Competitive Procedure with Negotiation route, it reserves the right to award the contract on the basis of the initial tenders without conducting negotiations.<br/><br/>It is anticipated that the Contract will be awarded for an initial period of 7 years from the Contract Effective Date, with an option to extend on the same terms and conditions at WSCC’s discretion by up to an additional 3 years in any combination.<br/><br/>The contract start date (Effective Date) shall be 01 January 2025 following an implementation period.<br/><br/>The estimated value of the contract over the full term (initial period and extensions) is £15m.<br/><br/>The process will be split into the following stages:<br/><br/>Stage 1: Selection Questionnaire (SQ) submission <br/>Stage 2: Initial Tender Submission <br/>Stage 3: Negotiations and Final Tenders (up to 4 Bidders will be invited to this stage)<br/>Stage 4: Contract Award