The proposals also require the project to be delivered in phases, as there is a need to maintain 100 units during construction.
Under the plans, the winning bidder will secure a 20-year contract, although the trust currently holds the option to reduce or increase this period, and this will be discussed during the competitive dialogue phase.
Interested parties have until 1pm on 5 December to submit their bids.
For more information on the project, click here.