RegenerationMK

Description

Total value of the procurement: £130,000,000 This was broken down over the initial five-year term of the TPA and the PPA as follows: • Repairs and Maintenance (including refurbishment) - GBP 10 to GBP 12 million per annum. • New Build - GBP 12 to GBP 14 million per annum. • Share of surplus generated from new build opportunities. The term of the TPA commenced on 1st April 2016 and expired on 31 March 2021 with an option, at the Council's discretion, to extend for a further period or periods of up to ten years in duration. The term of the PPA also commenced on 1st April 2016 and expired on 31 March 2021 with an option, at the Council's discretion, to extend for a further period or periods of up to ten years in duration. On 30 September 2020, having exercised its option to extend both contracts, the Authority entered into deeds of variation to the TPA and the PPA to extend the terms of both contracts for a further of three years commencing on 1 April 2021 and ending on 31 March 2024. On 13 December 2023, having exercised its option to extend both contracts, the Authority entered into further deeds of variation to the TPA and the PPA to extend the terms of both contracts for a further 12 months commencing on 01 April 2024 and ending on 31 March 2025 (the "2023 Deeds of Variation"). The Council published a modification notice (2023/S 000-037208) on the Find a Tender Service on 18 December 2023 in relation to 2023 Deeds of Variation. The stated values included in Section VII.2.3 (Increase in Price) of that notice did not account for all increases in the contract value between 2019 and 2024. Therefore the figures in that notice (2023/S 000-037208) should have made clear that the updated total contract value before the modifications under the 2023 Deeds of Variation was £295,200,000 and the total contract value after the modifications was £320,000,000. As the date of publication of this modification notice, the total anticipated contract value to 31 March 2025 is estimated to be £336,900,000 as set out in Section VII.2.3 (Increase in Price) below.