Housing annuity Leaseback Model
Newcastle City Council · North East
Key facts
- Contract value
- £18,503,515
- Awarded
- 02 Jan 2018
- Contract starts
- 03 Jan 2018
- Contract ends
- 30 Aug 2019
- Procedure
- Competitive dialogue (above threshold)
- Buyer type
- Local government
Awarded to
| Supplier | Value |
|---|---|
| Tolent Living Limited | £18,503,515 |
Description
Newcastle Council wishes to invite organisations to finance, design and build and fit out new homes on specific sites and to certain standards and specification which the Council will lease back for a set period of time under an Annuity Lease Back Model 'ALBM',. At the end of this period of time all property and assets will revert back to Council ownership. By leasing the properties back to the Council the partner will secure a long term fixed return for the investment. There are 148 new homes (including Assisted Living apartments, Tyneside flats and bungalows) on 5 sites across the city envisaged for inclusion. This will deliver older persons housing, and an assisted living scheme.
Categories (CPV)
- 45000000 Construction work
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