Student Accommodation Property and Letting Manager

Knight Frank Investment Management LLP is seeking to procure a Property and Letting Manager for St Leonard's House, St Leonard's Gate, Lancaster, LA1 1NN.

Knight Frank Investment Management LLP is seeking an option to procure a Property and Letting Manager for Friargate Court, 154 Market Street West, Preston, PR1 2AT

St Leonard's House is a 179 bed purpose built student accommodation scheme which is currently under construction and which will be available for occupation at the start of the 2019/2020 academic year.

If required by KFIM, the successful Property and Letting Manager will be required to take on a scheme at Friargate Court, 154 Market Street West, Preston, PR1 2AT. This is not a commitment to allocate the Preston property to the successful Bidder.

Friargate Court is a 244 bed purpose built scheme which is currently available, with planning consent in place to let rooms to students in full time education, apprentices or key workers, or during vacations by delegates attending conferences, exhibitions, courses training, graduates, conferences and other events which are taking place at a recognised educational establishment. The building comprises ground floor street level retail and a ground floor café (not operational). The ground floor café is situated within the building.

The estimated total contract value of the St Leonard's House, Lancaster opportunity in isolation is £4,190,000.

The estimated total contract value of the Friargate Court, 154 Market Street West, Preston opportunity in isolation is £5,700,000.

Knight Frank Investment Management LLP is managing this procurement process and will follow the Restricted procedure in accordance with the Public Contracts Regulations 2015. This process is being followed because the buildings are owned by Lancashire County Council, a local government body that is required to comply with the Public Contracts Regulations 2015. Potential suppliers should note that the successful tenderer will be required to contract with KFIM.

The contract will be for a period to commence in November 2018 and expire in August 2028. The client will have the ability, at its own discretion, to extend the contract for two further periods of 12 months each. The client will also have the ability to terminate the contract on 3 months' notice, such notice to expire on or after August 2023. This contract will be subject to performance.

KFIM is managing this procurement process. The successful bidder will be required to contract with KFIM directly.