****AWARDED CONTRACT**** TRCF3075: Provision of a Lead Commercial Advisor that will provide advice on the lease negotiations and disposal of the Motorway Service Areas portfolio

The Department for Transport (the 'Department') requires strategic lease re-gear negotiations and disposal advice from a commercial property agent on a series of lease re-gears and disposal of a portfolio comprising 21 trading Motorway Service Areas (MSAs) located across England's motorway network.

This contract is awarded to CBRE Ltd to provide such services over the period commencing on the 15/05/2023, until 15/05/2025, with an option to extend for a further year.

The contract will be billed on a time-cost basis, capped to a maximum fee of £90,000.00 over the duration of the contract. An additional success fee will be provided at the legal completion of sales.

This procurement was conducted via a further competition, by means of CCS Framework RM6168: Estate Professional Services, Lot 1 - Total Estate Management. The contract is therefore governed by the terms and conditions of said framework.