1.30 The Department transferred the estate to the successful bidder in return for reduced rentals over the contract period rather than requiring an up-front payment. The Contributions Agency informed this decision by inviting the last three bidders to submit bids both with and without a payment. The Agency found that the winning bidder, NEP offered a payment of around £66 million (in present value terms), but that this payment would increase the Department's annual payments to NEP by £78 million (in present value terms) over the life of the contract. They therefore decided, in agreement with the Department and Treasury, not to require an up-front payment.