MD1448 Estates Contracts
The Greater London Authority (GLA) inherited a number of contracts relating to the property portfolios it acquired in 2012. Two key contracts relate to the outsourced Estate Management of the portfolio and the annual Asset Revaluation Programme.
The opportunity has been taken of retendering both contracts and following a successful procurement exercise, it is proposed to put in place new contracts. The Estate management contract will cover the period 2015-18, while the Asset Revaluation contract (excluding Greenwich) will be for three financial years, commencing 2014/15.
At the same time, some smaller contracts will be absorbed into the new Estate Management contract. The Asset Revaluation contract will cover both the GLA, GLA Land & Property Limited (GLAP) and the London Legacy Development Corporation (LLDC) property portfolios.
Due to its specialised nature Greenwich Peninsula will be valued separately.