Thames Water has gone out to tender with a framework contract for real estate and property management services worth an estimated £30 million in total.
The water company is looking to award one or more framework agreements to suppliers capable of providing property management services to the Thames Water Group, across its entire business footprint - and more widely if required. This could include estates and rents management, long term value creation, disposals, acquisitions and development planning related to the Thames Water Group and Thames Tideway Tunnel property portfolios.
The water company is also looking for suppliers to provide business rates advisory and appeal services.
The contract is being tendered in three separate Lots:
Lot 1 TWUL Assets – Estates Management, Land Sales, Development and Planning
Lot 1 covers the provision of specialist, property management and portfolio development services aligned to the Thames Water property portfolio and wider Thames Water Group portfolio. The Thames Water property estate includes c. 5 300 sites across 16 000 acres of which c. 60 % is in the Greenbelt or Metropolitan open land. In addition, the water company said it has a diverse range of other assets that present an opportunity for Thames Water to generate additional income streams and value.
Successful organisations would be expected to operate as an integrated member of the Thames Water Property team, providing services and presence within the Thames Water offices in Reading and the Thames Tideway offices in central London.
Thames Water are also seeking suppliers that will provide an innovative contribution towards key areas of development, including identifying and validating as yet untapped, potential income streams and value creation within the Thames Water portfolio
Lot 2 TTT Assets — Land Sales, Development and Development Planning
Lot 2 covers provision of specialist, property management and portfolio development services aligned to the Thames Tideway Tunnel property portfolio. This consists in total of around 27 sites made up of 88 parcels of land which includes five principle disposal sites and 14 areas of Public Realm.
Lot 3 Business Rates
Thames Water business rates are around £119 million per annum split between water (£82 million) and waste (£37 million).
Any framework agreements awarded will be for an initial duration of 5 years in AMP7 with options to extend into AMP8 i.e. up to a maximum of 10 years in total.
Time limit for receipt of tenders or requests to participate is 24th March 2020 – click here to access the tender documentation.
Want to know more about winning new business in AMP7? The water companies in England and Wales are set to spend £51 billion in the next five years.
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