Government set to consider bids on estates services contract
Tue 20th November 2012, 10:47 am
Government officials are whittling down bids from property firms to get a place on the government's framework for managing its property portfolio.
The Estates Professional Services framework will see the formation of a panel of estates advisory consultants from which government estates services can select a preferred consultant to provide services such as cquisitions, disposals, rent review and lease renewals.
The deadline for the lucrative framework tendered out by the Government Procurement Services passed last week.
The Government is now set to consider the bids of parties currently involved in the framework as well as newcomers.
CoStar reported that a decision on the final ten advisors will be reached in the first week of January.
According to the government procurement service, the framework should go live in February 2013.
The total estimated value of services provided for the duration of the contract is between £60m and £120m. The contract itself is for four years.
The previous panel of advisors include Colliers International, Drivers Jonas Deloitte, GVA, Jones Lang LaSalle, DTZ, Knight Frank, BNP Paribas Real Estate and Lambert Smith Hampton.
These firms were all expected to renew their bids as well as Savills, Cushman & Wakefield and CBRE.