Award

Asset Valuation

CAPITALESOURCING

This public procurement record has 1 release in its history.

Award

21 Feb 2024 at 14:22

Award Notice
Summary of the contracting process

The buying organisation, capitalEsourcing, based in London, United Kingdom, has completed a public procurement process for the provision of Asset Valuation services within the Financial auditing industry category. The procurement method used was "selective", calling off from a framework agreement. The contract period is from 21st February 2024 to 3rd December 2026, with a total value of £351,250. The tender period ended on 15th September 2023.

This tender for Asset Valuation services presents an opportunity for small and medium-sized enterprises (SMEs) in the financial auditing sector to participate. Businesses with expertise in complying with RICS Valuation Standards and IFRS 13 requirements would be well-suited to compete. The procurement process was at the award stage as of 21st February 2024, with Sanderson Weatherall LLP being the successful supplier awarded the contract.

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Notice Information

Notice Title

Asset Valuation

Notice Description

1.1 All valuations and reports are to be prepared in accordance with the RICS Valuation - Professional Standards (Red Book) and the version of the CIPFA Code of Practice on Local Authority Accounting in the United Kingdom relevant to the financial year in question. 1.2 The operational portfolio of the Council is to be valued at Current Value. For operational assets where there is an active market this shall be the existing use value, as defined by RICS. If there is no market-based evidence of current value because of the specialist nature of the asset and/or the asset is rarely sold, valuation shall be using depreciated residual cost. 1.3 The investment property portfolio of the Council is to be valued at Fair Value, to comply with IFRS 13 requirements to consider highest and best use in the determination of fair value. 1.4 HRA Council Dwellings are to be valued at Current Value based on Existing Use Value - Social Housing as defined by DLUHC (previously DCLG) guidance. The valuations will be prepared in compliance with the DLUHC (previously DCLG) guide "Stock Valuation for Resource Accounting - 2016". If there are any revisions to the guidance throughout the life of the contract, the service provider will be required to comply with any such revisions as directed by the Authorised Officer.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-73a1f223-c822-4a81-b134-ac03e87034a2
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/7499bf00-d808-4d8a-bb33-547bbba6ead9
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
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79212100 - Financial auditing services

Notice Value(s)

Tender Value
£351,250 £100K-£500K
Lots Value
Not specified
Awards Value
£351,250 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
21 Feb 20242 years ago
Submission Deadline
15 Sep 2023Expired
Future Notice Date
Not specified
Award Date
21 Feb 20242 years ago
Contract Period
21 Feb 2024 - 3 Dec 2026 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
CAPITALESOURCING
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
SW1E 6QP
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

SANDERSON WEATHERALL

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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