Real estate agency services on a fee or contract basis

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. 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.