PROPERTY MANAGEMENT FOR THE VICTORIA CENTRE, SOUTHEND-ON-SEA

Southend-on-Sea City Council (the Council) is seeking to engage with the market to appoint a property manager in relation to the Victoria Centre.

The Council purchased the asset in December 2020 and the current management contract is about to expire.

The Council would like to engage with potentially interested parties, who have the relevant experience and knowledge to take over the contract for a period of three years.

The Victoria Centre extends to approximately 340,000 sq ft arranged over three floors together with an adjoining multi storey car park with 580 spaces.

It is predominantly a shopping centre, albeit the Council is seeking to widen uses to incorporate further leisure and community uses.

Rental income is in excess of £2 million per annum and the 2023 service charge budget was also set at over £2million.

Current occupancy of the scheme is just over 80%.

The Council is very aware that it requires a highly specialised service and accordingly interested parties will need to demonstrate excellent experience in the management of shopping centres as well of some local knowledge of the City.

This is an extremely important asset and interested parties will need to demonstrate they have the resources to deal with the asset, especially in the current economic environment.

The written confirmation of your company's interest in taking part in this Expression of Interest should be returned to the Council via an email to aleksandrahaker@southend.gov.uk Your company's response to confirm interest must be received by the Council before: 14:00 Friday 19th January 2024.

If there is no interest expressed, the Council will use regulation 32 of the PCR (2015) to award a contract to the current provider for a maximum of 3 years.