Cofely wins £40m TFM deal with Kingston council

Cofely has been awarded a total facilities and property management contract by the Royal Borough of Kingston upon Thames in south-west London.

Encompassing about 80 corporate (non-housing) properties, the contract is initially for seven years with the option to extend it to a further three years. It is expected to deliver £20 million of direct savings over the life of the contract.

In addition, a framework agreement will be established alongside the main contract for similar services to be accessed by schools in the borough at preferential rates.

The deal will see integration of property maintenance, facilities and energy management and procurement to drive down costs, improve performance and service delivery, while reducing energy use and carbon emissions.

In parallel, there will be “a transformation of the council’s corporate property to release significant value and generate new income streams through commercialising the estate and assets”.

A key element of the new partnership between Cofely and Kingston is a commitment to social values to generate significant benefits for the local community. These include creation of local apprenticeships and employment of local people, with guaranteed training for all staff, as well as the development of supply relationships with local businesses.

Cofely staff will also engage with local community volunteer programmes and provide work experience opportunities for schools that source services through the framework agreement.

Councillor David Cunningham, of the Royal Borough of Kingston upon Thames, said: “We were seeking a partner that is able to work with us strategically in identifying opportunities to create additional value from our property portfolio while also delivering significant cost savings.”

Cofely CEO Wilfrid Petrie added: “Through our experience of working with other local authorities we are ideally positioned to bring significant benefits to the Royal Borough of Kingston and its residents.”

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BDC 305 Jun 2023