Framework for Commercial Agency Services

Surrey Heath Borough Council (SHBC) is currently looking to set up a new multi-agency framework for SHBC investment agency services. Appointed suppliers will support the Council with acquisitions and disposals of property and land. The agents will be required to assist with the acquisition and disposal of retail, office, leisure, industrial and community assets.

There is a further requirement for the agents to review the market for potential acquisition opportunities that may be of interest to the Council and present those for consideration. The Council will consider the assets that meet the following criteria: assist regeneration, promote economic growth, protect employment. There will be 3 lots:- 1.

1Lot 1:Commercial sales and acquisitions 1. 2Lot 2: residential sales and acquisitions 1. 3Lot 3: retails sales and acquisitions Please note that the Council will be holding a bidder information meeting between the 9th and 12th May 2023.

The Specification of Services to be provided under Lot 2 are set out below:

3.3.1 Disposal of freehold and leasehold property including shared ownership properties – Residential

Where surplus property, space or holdings have been identified and, on receipt of an Order, the Provider will provide an initial report with budget costs, forecast incomes, anticipated outcomes and timings which take into account market conditions and risks, together with a recommendation to achieve the most favourable outcome for the Council.

Following agreement with the Council, the Provider will undertake and manage the marketing and disposal through to a satisfactory conclusion for the Council and will provide a comprehensive final report to support a recommendation, including any need to claw back, with advice on amounts and mechanism.

3.3.2 Acquisition of freehold and leasehold property including shared ownership properties - Residential

Following agreement on a procurement strategy, the Provider will undertake and manage a comprehensive search of available property solutions.

3.3.3 Valuations – Residential

Valuations to the appropriate RICS standards are to be provided by the Provider where necessary in the provision of the Surveying Services outlined above. The Council may require independent standalone valuations which can take a number of forms including:

Full valuations

In accordance with RICS Valuation – Professional Standards March 2012, capital and rental values.

Desk top

Based upon property information provided by the Council, without the need for inspection – capital and rentals values.

Capital Charge

For internal charging purposes. Valuations to be based upon current open market existing use value (EUV); alternative use value (AUV), where that is greater and apportioned between land and buildings, with an assessment of remaining economic life.

Independent ‘check’ valuations

Verification of capital and rental values.