Middlesbrough hands Freeth Carthwright £500k property advice contract

Middlesbrough Borough Council has awarded Freeth Cartwright a £500,000 contract to provide legal advice on the commercial property portfolio of the Teesside Pension Fund.

The firm was selected on the basis of the most economically advantageous tender in terms of:

• Method of operation (10% weighting)
• Expertise (10%)
• Resources (firm) (10%)
• Contract support (5%)
• Resources team (25%)
• Price (40%)

Middlesbrough, which is the administering authority for the fund, received six offers for the contract. Freeth Cartwright will act for the fund when properties are bought and sold, and in all matters relating to tenants where legal agreements or legal advice are required.

The fund currently has assets worth £90m in its commercial property portfolio.