Provision of Retail Estate Management Services

Key Details

Description

This procurement is being run by First Rail Holdings on behalf of First Trenitalia West Coast Rail. To drive and deliver higher rental income return through: -Increasing the rent roll -Customer service improvements through capital and tenant investment. The estate comprises of 16 directly managed stations and encompasses all property within the leases. This includes station buildings, car parks, and other land and property. The properties provide a broad mix of retail, office, residential, community, and other commercial tenancies held on a mixture of leases and licences. The management of station car parking and commercial advertising is not included as part of this procurement strategy. The new contract will be for an initial 3-year term with an option to extend for a further year. The estate is currently generating a rental income of approximately £4.7m. It is estimated that a new contract value will be in the region of £1,100,000 for a full 4-year term. Please note that TUPE applies to this procurement. The successful Supplier will be required to enter an Umbrella Direct Agreement (UDA) with the Secretary of State.