Tender: Property Management, Lettings and Lease Consultancy for Royal Mills Commercial Estate, Manchester

About

Manchester City Council is seeking a supplier for property management, lettings (real estate agency services) and lease consultancy for the Royal Mills Commercial Estate, which comprises Royal Mill, Paragon Mill, Old & New Sedgwick Mills, Fairbairn Building, Nuovo A and Nuovo B, plus the Courtyard (Royal Mill Business Centre). Services relate only to the commercial elements of these mixed-use refurbished mill buildings and new build properties. The maximum estimated contract value across all lots over the maximum term is £420,000 (incl. VAT), with an estimated split of Lot 1 Property Management £300,000, Lot 2 Lettings £60,000 and Lot 3 Lease Consultancy (including lease renewals and open market rent reviews) £60,000. The estate has a complex lease structure including MCC freehold, a 999-year headlease to RM Developments Ltd, a 998-year commercial lease to MCC, a 150-year Royal Mill Business Centre lease to MCC and numerous commercial sub-leases of 2–25 years. For each Lot it is envisaged the four highest scoring applicants will be shortlisted to ITT and one supplier will be appointed following ITT; applicants may be shortlisted for one, two or all Lots and will be treated individually per Lot.