# Housing annuity Leaseback Model

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [Newcastle City Council](/buyers/newcastle-city-council/contract-awards)
- Contract winner: Tolent Living Limited
- Award value: £18,503,515
- Tender value: £18,000,000
- Award date: 2 January 2018
- Published: 12 February 2018
- Contract start: 3 January 2018
- Contract end: 30 August 2019
- Stage: awarded
- Procurement category: works
- Notice ID: 2df17ccc-8b7c-4728-93d2-2b70997d98e4-196798
- OCID: ocds-b5fd17-6589f5b9-1c0d-43f8-9c6c-eb2b20b7458f

## 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\.

## Related contract awards

- [GB-Tyne: TPPL Newcastle City Council HCC Lot 2 - 1 x Peugeot E Expert \(33517\)](/contracts/ocds-b5fd17-4d91f65d-58a7-47ad-b57a-b52221ee181f): Newcastle City Council
- [GB-Tyne: TPPL Newcastle City Council HCC Lot 1 - 1 x Dacia Jogger Extreme Hybrid 7 Seat \(32450\)](/contracts/ocds-b5fd17-f06e423f-d934-44ef-9942-452596f31ea7): Newcastle City Council
- [Pottery Bank Phase 2](/contracts/ocds-b5fd17-8ac9facd-9059-4b00-9c3d-510f0ca2f361): NEWCASTLE CITY COUNCIL
- [Lot 3 Building Construction Works - Northumberland, Tyne & Wear and Durham - £2,000,000 - £5,000,000](/contracts/ocds-b5fd17-5ef568ae-13ca-4a33-834d-f1c9b31138c2): Durham County Council
- [East Herringthorpe New Build Site Cluster Stage 1](/contracts/ocds-b5fd17-5f6eb8fb-f743-449c-8f57-83c8105f145b): Rotherham Metropolitan Borough Council
- [Redcar & Cleveland Borough Council - Kirkleatham Hall School Extension Project](/contracts/ocds-b5fd17-e892b319-bda7-40a8-91a8-01d1bec036b6): Places for People Group Limited

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/2df17ccc-8b7c-4728-93d2-2b70997d98e4-196798)