STATEMENT OF WORK:
Our clients Portfolio Management Sector Owner Investor (OI) is responsible for the management and strategic direction of the federal government’s real estate holdings. Such holdings consist of all types of real estate assets spread out across the major centres and regions in the country. The “National Portfolio” ranges from office buildings to special purpose to common use facilities. These assets are essential for the delivery of all federal government programs.
Our clients National Capital Area/Owner Investor group (NCA/OI) is the custodian for the largest portion of the government’s diverse and vast real estate holdings. The NCA portfolio provides federal departments and other federal organizations and agencies with affordable and productive work space. Our clients mandate is to provide and oversee a wide range of services to the portfolio that include property management, leasing and professional technical services. In exercising its mandate our client must ensure that the portfolio performs to a level reflecting best business practices, principles and good value for the federal dollars invested.
The NCA Owner Investor group relies on a number of reporting program initiatives that collectively form the overall business framework for directing all assets in the portfolio. The Asset Management Plan (AMP) is one of clients key reporting documents.
The Asset Management Plan (AMP):
The AMP is a detailed business and economic plan that generally outlines and recommends a management strategy for the asset. This comprehensive business plan is completed on all crown owned assets and is usually updated for the asset on a five year cycle. It is more commonly refer to as a forecasting plan for the asset during interval periods of five to ten to thirty years. The AMP also provides analysis of various investment and strategic options and presents information and data that our client uses to determine and rank the financial and investment merits of holding the asset medium to long-term. In addition it measures the asset’s overall performance against a set of market investment principles and market benchmarks/standards. In short, the AMP provides the Owner with the building data and intelligence to properly direct the asset to meet its investment objectives.
The Building Condition Report (BCR) and the market appraisal report are the two key documents that are the base technical and financial analysis used to complete the AMP document and the strategic options for the asset.
The consultant must demonstrate the following qualifications.
- Business Degree or Business Diploma from a recognized Canadian Academic Institution;
- two or more years’ experience in performing Real Estate Investment Analysis for major commercial office and special purpose projects;
- Knowledge and experience using our clients REFIT Investment Analysis Program and or other similar real estate financial software and or financial spreadsheet programs;
- A good general understanding of building science and building construction, building condition assessment reports and building life cycle issues;
- Full understanding of appraisal principals guiding the valuation of commercial real estate;
- Experience in completing feasibility business case studies for major commercial projects.
- Attend the AMP start–up meeting to discuss and confirm the scope of work and scheduling.
- Perform a full visual inspection of the asset and undertake a full review of all existing documents relating to the asset including the previous and current Building Condition Reports and AMPs and other financial documents specific to the asset. Undertake and complete the update of the Asset Management Plan (AMP) using our clients Terms of reference.
- Provide a report consisting of both financial (REFIT) and non-financial analyses, including schedules of feasible options. These analyses must demonstrate the recommended solution. Results of these analyses should be based on the present value cost of accommodation (PVCOA) over a 25 year investment horizon period.
Deliverable & Scheduling:
The final Asset Management Plan report will be presented to our client based on the content and format requirements (AMP Report Content Requirements).
The Draft AMP report is to be completed on or before……………. The Final Draft AMP and the AMP Summary document are to be delivered on or before………………. The contract completion date may be extended but only under special circumstances and approved by our client. The consultant will complete and deliver the AMP document in electronic format for the draft and final reports..
The Asset Management Plan will be completed and submitted in English. .
- The consultant must have a “Secret” Security Level.
- For general access, the consultant will be required to conduct site related work Monday to Friday between 8am and 4:30pm. All other access times will be determined by consultation with the Property Facility Manager (PFM). The consultant shall pre-arrange dates & times for site access at least 72 hours in advance.
- The consultant will be escorted during the inspection stages by the Property Facility Manager (PFM) and or a designated associate.
- The AMP document is to be prepared in English using Microsoft Office applications.
- The final AMP document and the AMP Summary documents should be delivered to the Project Authority in electronic format.
- Relevant appendices, spreadsheets, cost estimates, tables and schedules associated with the recommendations and conclusions to the AMP document are to be provided as part of the final deliverable.
- The four financial options are to be developed and presented as part of this assignment.
The AMP Project Team:
The Project Leader will oversee the implementation of the contract and will manage this AMP mandate to the final deliverable. The Project leader is also the Departmental Representative and will be responsible for ensuring that the works meets contracting principles and project quality.
- The Consultant is to note that in addition to the start–up meeting, PSPC may require additional meetings to ensure the requirements and instructions set-forth herein are being followed and to provide the consultant the opportunity to discuss any issues
- No travelling outside the Capital Region (NCA) is required.
Mandatory Technical Requirement
- The consultant must clearly demonstrate two years’ experience in completing the Discount Cash Flow Analysis on major commercial properties.”
- The consultant must clearly demonstrate more than 2 yearsusing our clients REFIT Investment Analysis Program and or other similar real estate financial software and or financial spreadsheet programs;
- The consultant must clearly demonstrate has more than 2 years of experience in completing feasibility studies and business cases for major commercial real estate.