Interim Contract for Asset Manager for the Victoria Centre

Award outcome

Description

**Confirming the award of an interim contract** The Supplier delivers a full asset management service in relation to the Victoria Centre. The work will involve: -updating business plan, including a leasing strategy - overseeing property management and agency advisors in relation to the scheme. - Reporting to the Council. - Reviewing service charge budgets and other capital projects. The above will ensure the scheme is well managed with a view to maximising net operating income. A further aim is to add to diversification of the centre to increase footfall, fill up void spaces and create a vibrant scheme for the local community. This contract is used to facilitate the proper oversight for the rents set and collected from the Victoria Centre. Although, this contract is not responsible for the collection of rent, this contract supports the proper reviewing of rents which enables income to be generated via a different contract. *This interim contract is awarded to enable the Council ample time to run a compliant above threshold procurement process. As part of the future above threshold procurement process the Council has published: UK2: Preliminary market engagement notice Notice identifier: 2025/S 000-030415 Procurement identifier (OCID): ocds-h6vhtk-054406 This information is provided to further increase the visibility of the Council's current intentions. The market is advised further work will be done in the upcoming months on the above threshold procurement process. For the avoidance of doubt, although it is very much separate, the aim of the above threshold procurement process will be to put in place the contract required for when the interim contract expires. The expiry date of the interim Contract is listed as part of this notice. Although, the most viable route to market and means of procurement is yet to be determined, the Council will publish any required notices in due course. * **Due to the Council's plans for an upcoming above threshold procurement relating to the same service as the interim contract the Council cannot divulge the value of this interim contract. This is because of genuine concerns such information will damage the integrity of any competitive procurement process undertaken regarding the service. Not least of all because of the relatively short timeframe between the placing of the interim contract and the possible beginning of the next related procurement process. ** ***In the interests of transparency, the Contract Start Date referenced is to fulfil a mandatory requirement for that field. Although the requirements of the contract were agreed, prior to the start of the interim contract, the completion of the due diligence relating to the final draft of the contract and the practical act of signing the contract, was not completed until 09/10/2025. For the purposes of this notice this is the date used. This is because the commencement of the contract cannot pre-date the contract's signing. However, with parties in agreement and with the imperatives relating to ensuring the continuous running of the facility, the provisioning of the interim contract commenced on the 16/09/2025. ***

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