UK-London: Buying and selling of real estate.
UK-London: Buying and selling of real estate.
This notice is published by:
Section I: Contracting authority/entity
I.1) Name and addresses
Hyde Housing Association
30 Park Street, null, London, SE1 9EQ, United Kingdom
Tel. +44 2032072574, Email: firstname.lastname@example.org
Main Address: https://www.hyde-housing.co.uk/
NUTS Code: UK
I.4) Type of the contracting authority (in the case of a notice published by a contracting authority)
Body governed by public law
I.5) Main Activity (in the case of a notice published by a contracting authority)
Housing and community amenities
Section II: Object
II.1) Scope of the procurement
II.1.1) Title: Real Estate Asset Management.
Reference number: Not Provided
II.1.2) Main CPV code:
70120000 - Buying and selling of real estate.
II.1.3) Type of contract: SERVICES
II.1.4) Short Description: A contract for the provision of combined advisory, organisational and real estate asset management review services relating to the creation of a scalable asset management function within Hyde to assist with implementation of the major strategic initiative. Under the contract the service provider will be responsible for the development of systems and procedures to support the real estate aspects of the new strategy as it applies to the portfolio and the subsequent implementation of the proposed solution.
II.1.6) Information about lots
This contract is divided into lots: No
II.1.7) Total value of the procurement (excluding VAT)
II.2.2) Additional CPV codes:
II.2.3) Place of performance:
II.2.4) Description of the procurement:
A contract for the provision of combined advisory, organisational and real estate asset management review services relating to the creation of a scalable asset management function within Hyde to assist with implementation of the major strategic initiative. Under the contract the service provider will be responsible for the development of systems and procedures to support the real estate aspects of the new strategy as it applies to the portfolio and the subsequent implementation of the proposed solution.
The contract will be for a one year term, with the potential to extend to two.
Anticipated spend will be between £1.7m - £2.5m p.a. based on performance.
II.2.5) Award criteria
(Directive 2014/24/EU / Directive 2014/25/EU)
II.2.11) Information about options:
II.2.13) Information about European Union funds:
The procurement is related to a project and/or programme financed by European Union funds: No
II.2.14) Additional information:
Section IV: Procedure
IV.1.1) Type of procedure: Negotiated procedure without prior publication (in accordance with Article 32 of Directive 2014/24/EU)
IV.1.3) Information about framework agreement
The procurement involves the establishment of a framework agreement: No
IV.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: No
IV.2.1) Previous publication concerning this procedure:
Notice number in OJ S: Not provided
Section V: Award Of Contract/Concession
Award of Contract/Concession No: 1
Contract No: Not Provided Lot Number: Not Provided Title: Not Provided
V.2) Award of contract/concession
V.2.1) Date of contract award decision: 26/03/2018.
V.2.2) Information about tenders
The contract has been awarded to a group of economic operators: No .
V.2.3) Name and address of the contractor/concessionaire, No. 1:
Resolute Asset Management LLP
4th Floor, Alpha House, 24A Lime Street, London, EC3M 7HS, United Kingdom
NUTS Code: UKI
The contractor/concessionaire will be an SME: Yes
V.2.4) Information on value of the contract/lot/concession:
Initial estimated total value of the contract: Not Provided
Total value of the contract/lot/concession 5,000,000
V.2.5) Information about subcontracting:
The contract is likely to be subcontracted: No
Section VI: Complementary Information
VI.3) Additional Information:
To view this notice, please click here:
VI.4) Procedures for review
VI.4.1) Review Body
Royal Courts of Justice
The Strand, null, London, WC2A 2LL, United Kingdom
V1.4.2) Body responsible for mediation procedures:
Not Provided .
VI.4.3) Review procedure
VI.4.4) Service from which information about the review procedure may be obtained
VI.5) Date of dispatch of this notice: 29/03/2018
Annex D1 - General Procurement
Justification for the award of the contract without prior publication of a call for competition in the Official Journal of the European Union
1. Justification for the choice of the negotiated procedure without prior publication of a call for competition in accordance with Article 32 of Directive 2014/24/EU
No tenders or no suitable tenders/requests to participate in response to: Not provided
The works, supplies or services can be provided only by a particular economic operator for the following reason: absence of competition for technical reasons
Extreme urgency brought about by events unforeseeable for the contracting authority and in accordance with the strict conditions stated in the directive: No
Additional deliveries by the original supplier ordered under the strict conditions stated in the directive: No
New works/services, constituting a repetition of existing works/services and ordered in accordance with the strict conditions stated in the directive: No
Service contract to be awarded to the winner or one of winners under the rules of a design contest: No
Purchase of supplies or services on particularly advantageous terms: Not Provided
Please explain in a clear and comprehensive manner why the award of the contract without prior publication in the Official Journal of the European Union is
lawful, by stating the relevant facts and, as appropriate, the conclusions of law in accordance with the directive: (500 words maximum)
The scope of works required to carry out the contract combines several disciplines including real estate investing, real estate and corporate finance advisory, and a track record of implementing the recommendation and managing granular real estate assets on a portfolio basis.
Given the specialist nature of this brief, and the integration of the contract with a highly significant internal strategic project, Hyde has established that it requires a single firm to provide the service, as to break the project into discreet parts to subcontract would be both costly and provide a burden of project management and counterparty reliability which would further add to the cost of delivery.
On investigating the market place and providers with the expertise to provide the vertical integration of the services, we found only one firm with the requisite expertise across all fundamental disciplines necessary for the services.
Resolute Asset Management LLP was founded by principals with an extensive background in investing in real estate to provide asset management and advisory services to clients. Unusually, the investing expertise is not coupled with an investment business, which may have created a conflict with Hyde’s core mission. Further, their core business of real estate advisory and implementing asset management solutions for large portfolios of granular assets, across multiple jurisdictions, set them apart from those firms that offer only advisory services.
Hyde’s assessment is that Resolute is singularly placed to not only design the optimised solution but also to execute it in practice, provide real estate professionals as a full time resource to assist Hyde with implementation.
Hyde is therefore of the view that if it were to seek to procure the Contract in accordance with the Regulations, competition would be absent for technical reasons as no service provider in the market would be able to provide the uniquely vertically integrated full design and delivery service offering proposed by Resolute.