Award

Revaluation of the Science and Technology Facilities Council's Land and Building Assets

UK SHARED BUSINESS SERVICES LIMITED

This public procurement record has 1 release in its history.

Award

02 Jan 2018 at 12:14

Award Notice
Summary of the contracting process

The procurement process titled "Revaluation of the Science and Technology Facilities Council's Land and Building Assets" is conducted by UK Shared Business Services Limited, aiming to obtain independent professional revaluations for property, plant, and equipment every five years. This tender falls under the 'services' industry category and is situated in locations including Didcot, Oxfordshire, and Warrington. The contract period commenced on 18 December 2017 and concludes on 30 March 2018. The procurement method for this contract involved a selective approach, specifically a call-off from a framework agreement, with the tender period having ended on 28 November 2017.

This tender presents significant opportunities for professional surveying firms and businesses specialising in asset valuation, particularly those experienced with Royal Institute of Chartered Surveyors (RICS) practices. Companies that offer services in building management, asset appraisal, and similar sectors can benefit from this project. The selected contractor, GVA Grimley Limited, has been awarded a contract valued at £60,000, indicating the financial potential for partners in this opportunity, notably within the competitive landscape of Public Sector contracts.

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Notice Information

Notice Title

Revaluation of the Science and Technology Facilities Council's Land and Building Assets

Notice Description

The Science & Technology Facilities Council (STFC) requires Independent professional revaluations for all property, plant and equipment (PPE) every five years and are revised in the intervening years by the use of appropriate indices. PPE are professionally revalued on different cycles. Land and buildings at some of the STFC sites are due to be professionally re-valued. Following the implementation of IFRS13, HM Treasury has adapted IAS 16 Property, Plant and Equipment. This requires that assets in use, which are held for their service potential (operational assets), should be measured at their current value in existing use. For non-specialised assets, current value in existing use should be interpreted as market value in existing use, which is taken to be existing use value (EUV). For specialised assets current value in existing use should be interpreted as depreciated replacement cost (DRC). Assets are depreciated on a straight line basis over their estimated useful lives. The estimated life for freehold buildings is 60 years and for leasehold properties 60 years or the terms of the lease. Land is not depreciated. 2. Scope of the Work Valuations a. The service required is as follows: i. To provide valuations for the Council's land and building assets located at the Rutherford Appleton Laboratory (RAL), Didcot, Oxfordshire. ii. To provide bespoke revaluation indices for the Council's land and building assets located at Daresbury Laboratory (DL), Warrington. iii. To provide valuations for the land and building assets of STFC's Joint Venture company Diamond Light Source Limited (DLSL). DLSL is located on the RAL site in Didcot. iv. To provide remaining useful lives for the revalued assets. b. The valuations are to be as at 31st January 2018. c. All valuations are to be carried out in accordance with the current practice and guidance notes of the Royal Institute of Chartered Surveyors (RICS). This requirement was advertised via a Mini Competition undertaken on the CCS RM3816 Estates Professional Services Framework Lot 1

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-b8e13ee8-74fa-4cfd-b897-f8ec948f45c6
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/8c0c89bd-ff20-47bd-804e-3af2d8598a3c
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

71 - Architectural, construction, engineering and inspection services

CPV Codes

71315000 - Building services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£60,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
2 Jan 20188 years ago
Submission Deadline
28 Nov 2017Expired
Future Notice Date
Not specified
Award Date
7 Dec 20178 years ago
Contract Period
18 Dec 2017 - 30 Mar 2018 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
UK SHARED BUSINESS SERVICES LIMITED
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
SWINDON
Postcode
SN2 1FF
Post Town
Swindon
Country
England
Major Region (ITL 1)
TLK South West (England)
Basic Region (ITL 2)
TLK7 Gloucestershire and Wiltshire
Small Region (ITL 3)
TLK71 Swindon
Delivery Location
Not specified
Local Authority
Swindon
Electoral Ward
Rodbourne Cheney
Westminster Constituency
Swindon North

Supplier Information

Number of Suppliers
1
Supplier Name

GVA GRIMLEY

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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