Rushmoor Borough Council - Union Yard - Polden Studios Purpose Built Student Accommodation - Property Management Services

Rushmoor Borough Council ('the Council') is inviting tenders from suitably qualified and experienced suppliers for the management of a new build 128-bedroom student accommodation development, Polden Studios, located within Aldershot, Hampshire. The accommodation is split into eighteen clusters comprising six to eight bedrooms, each with en-suite.

Polden Studios forms part of the wider Union Yard development scheme comprising a mix of residential apartments and new commercial floorspace. The scheme is currently under construction and is due for completion in July 2024. The Polden Studios development will open from the 13th September 2024 and will provide accommodation to students studying at the University of the Creative Arts (the 'University') in Farnham.

The Council has entered into a Nominations agreement with the University which will provide exclusive access to the accommodation for University's students. The successful supplier will be appointed via a property management agreement on a management fee basis whereby occupancy risk for take up of the accommodation is held by the University. The supplier will be paid an agreed management fee for delivery of the required services plus, in order to drive performance & efficiency, an agreed % of the net operating income.

The detailed service requirements that the supplier will be required to undertake are set out within Specification - PMA document accessible within the procurement documents issued via the Council's SEBP/Pro-Contract e-sourcing system. The service requirements can be summarised as follows:

The Council is targeting to have awarded the contract to the successful supplier by 3rd June 2024 to allow for mobilisation in advance of the opening date of 13th September 2024. The initial contract term will run for approx. 3 years from 17th June 2024 to 31st July 2027. The contract may then be extended in increments of generally no less than 1 year by a further 7 years to a maximum total term duration of 10 years, subject to the agreement and performance of both parties.

The Council's estimated budget for delivery of the services - inclusive of the operator management fee and incentives - is approx. £400,000 for year 1 of the contract, in view of one-off mobilisation costs, and £350,000 per year thereafter. These figures are exclusive of any future increases linked to inflation and / or changes in law.

The procurement programme, which has been scheduled in order to launch operations at the newly refurbished sites as soon as possible, is set out in the Invitation to Tender (ITT) document.