Manchester City Council is looking to re-tender its outsourced valuation and property management contracts for the next seven years.
The services to be covered are mainly concerned with management of the council’s investment estate but the contract may also include assisting with the management of the council’s operational assets.
The current contract was awarded to Jacobs and GVA Grimley, now Bilfinger GVA, for five years with a two year extension and is coming to an end.
Management of the council’s assets will include undertaking regular inspections, procuring repairs and minor building works and the management of tenants. The contractor will be also be required to undertake other professional work including asset valuations, landlord and tenant work, property acquisitions, disposals and commercial and residential valuations.
The council’s investment portfolio comprises around 1,000 income producing ground leases including a permanent caravan park, 1,800 peppercorn leases and approximately 130 directly managed commercial properties. In addition the contract includes management of a city centre residential estate where the council owns the freehold interest.
The budget for the contract is between £5m and £5.5m. It is intended that the contract will commence in April 2016.