Award

2018/19 SARA - Review of Valuation Methodology

DEPARTMENT FOR EDUCATION

This public procurement record has 1 release in its history.

Award

19 Feb 2020 at 13:34

Award Notice
Summary of the contracting process

The procurement process involves the Department for Education, which has awarded a contract titled "2018/19 SARA - Review of Valuation Methodology" in the industry category of auditing services. The contract is for a review to ensure the valuation methodology used in the Academy Sector Annual Report is fit for purpose, with an estimated contract value of £27,255. The procurement method used was selective, based on a call-off from a framework agreement. The contract period commenced on 29 January 2020 and is set to conclude on 12 June 2020. The associated tender was completed on 24 November 2019.

This tender opens avenues for businesses specialising in valuation and auditing services, particularly those with expertise in the educational sector. Companies offering detailed valuation methodologies, particularly in relation to the Depreciated Replacement Cost methodology, may find this opportunity particularly relevant. Additionally, larger firms with substantial experience in tender processes would be well-positioned to compete for future contracts with the Department for Education, given the ongoing need for independent assurance in this domain.

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Notice Information

Notice Title

2018/19 SARA - Review of Valuation Methodology

Notice Description

Contract to gain assurance that the valuation methodology used in the Academy Sector Annual Report and Accounts (SARA) is fit for purpose. Accounting standards require that a professional valuation be undertaken on the estate occupied by the academy sector on a rolling five-year basis. A fifth of the estate, c PS10-12 billion, is valued annually. Given the specialist nature of the estate, this is completed using a Depreciated Replacement Cost methodology developed by professional surveyors. The annual valuation spend is c PS350,000 - PS400,000. Contract awarded is to provide assurance over that methodology.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-3fc9c6be-4662-42f2-8e31-40c38c8743de
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/202ecbf2-0ed1-4998-b7d0-1b6758cbd08f
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79212000 - Auditing services

Notice Value(s)

Tender Value
£27,255 Under £100K
Lots Value
Not specified
Awards Value
£27,255 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
19 Feb 20206 years ago
Submission Deadline
24 Nov 2019Expired
Future Notice Date
Not specified
Award Date
24 Nov 20196 years ago
Contract Period
29 Jan 2020 - 12 Jun 2020 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT FOR EDUCATION
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1P 3BT
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLI London
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

PRICEWATERHOUSECOOPERS

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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