Town and Country Housing - Housing Maintenance Joint Venture

Town and Country Housing ("TCH") sought Tenders from suitably skilled and experienced suppliers to become a Joint Venture Partner and enter into a Maintenance Agreement with the Joint Venture Company for its delivery of repairs, maintenance and planned improvement works to the Town and Country Housing stock portfolio. The contracts have been entered into with the appointed supplier under an initial period of 12 years and 5 months, with the option to extend until 31st March 2050 (27 years and five months) at TCH's sole discretion. The value of the contract to be awarded is ~£158m (ex VAT and inflation) and reflects the core services to be delivered under the contract from the commencement date throughout the initial term of the contract. In the event that TCH elects to include the additional services (as set out in the original tender documents) and opts to extend the contract for its maximum possible duration, the total possible value of the contract is £700m (based on an estimation of the potential value of the additional services which may come into scope across the maximum possible duration of the contract, and on a worked example of when the additional services may commence; including an estimate for inflation). TCH conducted the procurement pursuant to the Competitive Dialogue procedure.