Award

Asset & Insurance Reinstatement Valuation plus Associated Work

HEREFORDSHIRE COUNCIL

This public procurement record has 2 releases in its history.

Award

16 Nov 2018 at 15:59

Award Notice
Tender

05 Oct 2018 at 08:12

Tender Notice
Summary of the contracting process

Herefordshire Council is seeking suppliers for the contract titled "Asset & Insurance Reinstatement Valuation plus Associated Work," which is classified under real estate services. This procurement is currently at the award stage, with an active contract value of £150,000, set to commence on 1 December 2018 and conclude by 31 July 2021. The tender process, which followed an open procedure, was initially published on 5 October 2018, and the tender period ended on 1 November 2018. The work will primarily take place in the West Midlands region of the United Kingdom.

This tender presents significant opportunities for businesses, particularly small and medium enterprises (SMEs) and voluntary community sector enterprises (VCSEs) that specialise in asset valuation and real estate services. Firms equipped with expertise in compliance with RICS and IFRS standards, as well as those able to perform detailed market reviews, will be particularly well-suited to compete for this contract. Engaging in this contract could enhance the business's portfolio and establish a long-term relationship with Herefordshire Council.

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Notice Information

Notice Title

Asset & Insurance Reinstatement Valuation plus Associated Work

Notice Description

Herefordshire Council requires formal asset valuations for inclusion in the Council's asset register and balance sheet by the end of the financial year. This needs to be undertaken in accordance with guidance produced by the RICS (Royal Institution of Chartered Surveyors) and the International Financial Reporting Standards (IFRS) - Code of Practice on Local Authority Accounting (the Code) published by CIPFA (Chartered Institute of Public Finance and Accountancy). An extract from the CIPFA Code guidance relating to the split of responsibilities between Valuer & finance colleagues is attached. Annual valuations are required for all investment assets, assets held for sale, surplus assets, assets changing asset class, assets substantially improved or impaired in addition to land and building assets valued bi-annually. A "market forces review" on a regional sector basis is required as a validation check to provide assurance that there has been no significant change in the value for those assets that have not been revalued in the financial year. Herefordshire Council has published this opportunity on the 'Supplying the Southwest Portal'. To view the tender documentation related to this opportunity you will need to register on the portal, if you are not already register with Procontract, and express an interest in the opportunity. To Register with Supplying the Southwest Portal (Procontract) click on the link below or copy and paste the link into your browser address bar; https://www.supplyingthesouthwest.org.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/d03af2a2-5c93-449a-ae20-1eb22737692e
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME, VCSE
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

70 - Real estate services

CPV Codes

70000000 - Real estate services

Notice Value(s)

Tender Value
£150,000 £100K-£500K
Lots Value
Not specified
Awards Value
£150,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
16 Nov 20187 years ago
Submission Deadline
1 Nov 2018Expired
Future Notice Date
Not specified
Award Date
15 Nov 20187 years ago
Contract Period
1 Dec 2018 - 31 Jul 2021 2-3 years
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
HEREFORDSHIRE COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
HEREFORD
Postcode
HR4 0LE
Post Town
Hereford
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG1 Herefordshire, Worcestershire and Warwickshire
Small Region (ITL 3)
TLG11 Herefordshire, County of
Delivery Location
TLG West Midlands (England)
Local Authority
Herefordshire, County of
Electoral Ward
Widemarsh
Westminster Constituency
Hereford and South Herefordshire

Supplier Information

Number of Suppliers
1
Supplier Name

WILKS HEAD & EVE

Further Information

Notice Documents

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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