Variation to Strategic Investment Model (SIM) Management Services contract

Description

In April 2023, Crown Estate Scotland, as agent on behalf of SOWEC, appointed OVE Arup & Partners to provide a number of management and other associated services (SIM (Strategic Investment Management) Management Service Provider) to the SIM Group for an initial period of up to 12 months. Crown Estate Scotland was to be the contracting party as agent on behalf of the SIM Group pending a new legal entity (SIM legal vehicle) being created. The intention is that, once the SIM legal vehicle has been established, the contract would be novated to that newly created legal entity. The new legal entity has not been established and Crown Estate Scotland (as agent) has continued to be the contracting party with OVE Arup & Partners to ensure the SIM process succeeds. The value of the original appointment was GBP339,670 which was based on an assumption of a number of applications. Subsequently 44 applications were received which was in excess of the numbers assumed. As a result, there will require to be additional resource allocated to exceed this requirement. The extra resource required to evaluate applications and provide project information to the SIM Group has resulted in an increased contract value of GBP460,000 and the contract expiration date confirmed as 16th April 2024.