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CPT_23_63 Asset Valuation

National Audit Office

This public procurement record has 3 releases in its history.

AwardUpdate

14 Aug 2026 at 09:57

Award Notice
AwardUpdate

30 Jul 2026 at 09:06

Award Notice
Award

11 Jan 2024 at 10:47

Award Notice
Summary of the contracting process

The National Audit Office commissioned asset valuation services covering its property and other assets, including valuation work connected with compulsory purchase orders. The work is delivered across the United Kingdom for the National Audit Office, a public-sector audit body. The requirement falls within professional valuation and property advisory services, rather than general construction or facilities management. It was procured through Lot 5, “Valuation and Compulsory Purchase Orders”, of the Crown Commercial Services Estate Management Services framework. The selected provider is Montagu Evans LLP, a London-based property consultancy. The opportunity is therefore relevant to firms with established asset valuation capability, experience advising public-sector property owners, and the specialist expertise needed for compulsory purchase valuations and related work.

The procurement has been completed and the contract was awarded to Montagu Evans LLP on 15 December 2023. The National Audit Office used a direct award from the Crown Commercial Services Estate Management Services framework, specifically Lot 5 for valuation and compulsory purchase orders, rather than an open competition. The awarded value is £55,000 including the stated currency of GBP. The initial contract ran from 1 January 2024 to 31 December 2026, with two optional extension periods of up to 12 months each. By August 2026, a further 12-month extension had been recorded for 1 January to 31 December 2027. The published contract period extends to 31 December 2028, reflecting the available extension arrangements. The requirement was identified as suitable for small and medium-sized enterprises.

This award indicates recurring demand from the National Audit Office for specialist property valuation and compulsory purchase order advice. A credible future supplier would need demonstrable competence in valuing public-sector assets, preparing defensible reports and evidence for compulsory purchase matters, and advising a client whose work requires professional independence and robust technical judgement. Experience of comparable portfolios across the United Kingdom would be relevant, as would the ability to deliver consistently as a framework supplier under the Estate Management Services arrangements. The award to an SME shows that the requirement can be delivered by a focused specialist consultancy rather than only by a large multidisciplinary firm. Property practices with valuation teams, compulsory purchase expertise and capacity to support public-sector instructions are the closest commercial comparators.

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Notice Information

Notice Title

CPT_23_63 Asset Valuation

Notice Description

National Audit Office (NAO) awarded a contract to Montagu Evans LLP using Lot 5: Valuation and Compulsory Purchase Orders of Crown Commercial Services Estate Management Services framework. The selected supplier will be providing asset valuation service to the NAO and the contract will run for an initial 3 years from Monday 1st January 2024 until Thursday 31st December 2026 with an optional extension period of 2 periods of up to 12 months each until Sunday 31st December 2028. As of August 2026, the contract has been extended for a further 12 months, from Friday 1st January 2027 to Friday 31st December 2027

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-99da53a2-d87c-46a6-b0d5-6750e122ccde
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/20f10479-8074-459d-b48d-d51078d6d259
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other - Direct Award from Framework
Tender Suitability
SME
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79212300 - Statutory audit services

Notice Value(s)

Tender Value
£55,000 Under £100K
Lots Value
Not specified
Awards Value
£55,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
14 Aug 20261 weeks ago
Submission Deadline
1 Dec 2023Expired
Future Notice Date
Not specified
Award Date
15 Dec 20232 years ago
Contract Period
1 Jan 2024 - 31 Dec 2028 Over 5 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
National Audit Office
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
SW1W 9SP
Postcode Area
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
Not specified
Local Authority
Westminster
Electoral Ward
Pimlico North
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

MONTAGU EVANS LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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