Award

Investment Property Valuation

NORWICH CITY COUNCIL

This public procurement record has 1 release in its history.

Award

21 Nov 2024 at 10:06

Summary of the contracting process

Norwich City Council has completed the procurement process for the "Investment Property Valuation" services. This was conducted in compliance with the CIPFA Code of Practice and aimed at obtaining regular valuations of non-housing properties for accounting and insurance purposes. The procurement falls under the category of accounting and auditing services with a specific CPV code of 79210000. The process reached the award stage on 1st November 2024 and was concluded on 21st November 2024. The contract, valued at £256,000, was awarded to NPS Property Consultants Limited, based in Norwich, United Kingdom (region UKH15). The procurement method was a limited award procedure without prior publication, permitted under the Crown Commercial Services (CCS) framework agreement (Estate Management Services RM6168, Lot 5).

This tender presents significant business growth opportunities for companies specialising in property valuation and associated documentation services. With a focus on statutory compliance and detailed asset valuations, it suits businesses experienced in public sector contracts and familiar with the CIPFA guidelines. Small and medium-sized enterprises (SMEs) like NPS Property Consultants Limited, which won the award, can benefit greatly from this type of procurement by leveraging their niche expertise to meet specific public sector needs. The initial contract term of three years with an option to extend for another year offers further stability and potential future engagements.

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Notice Title

Investment Property Valuation

Notice Description

The Council has a need to obtain regular valuations of non-housing properties for accounting and insurance purposes. Specifically, fixed asset valuation data is required to be provided for inclusion in the Council's Statutory Statement of Accounts (SOA) in accordance with: * The Council's Closure of accounts table to ensure the statutory deadlines for Public Inspection of the Statement of Accounts are met. * The CIPFA Code of Practice on Local Authority Accounting in the United Kingdom and any other relevant CIPFA Code.

Lot Information

Lot 1

The Supplier is required to provide fixed asset valuation data for inclusion in the Buyer's Statutory Statement of Accounts (SOA) in accordance with: - The Council's Closure of accounts table to ensure the statutory deadline for Public Inspection of the Statement of Accounts is met. - The CIPFA Code of Practice on Local Authority Accounting in the United Kingdom and any other relevant CIPFA Code.

Options: Initial contract term is for three years with an option to extend for a further year.

Procurement Information

Contract is a call-off from Estate Management Services (RM6168) framework - Lot 5: Valuation and Compulsory Purchase Orders via Crown Commercial Services (CCS). Asset valuations and associated documentation. Available for all public sector organisations. Under the terms of the framework agreement, a Direct Award procedure is permitted to the most suitable supplier on the provision that the authority has followed its own internal governance requirements.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-04bd84
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/037618-2024
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Award procedure without prior publication of a call for competition
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

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


CPV Codes

79210000 - Accounting and auditing services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£256,000 £100K-£500K

Notice Dates

Publication Date
21 Nov 20241 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
1 Nov 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
NORWICH CITY COUNCIL
Contact Name
Not specified
Contact Email
procurement@norwich.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
NORWICH
Postcode
NR2 1NH
Post Town
Norwich
Country
England

Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH5 Norfolk
Small Region (ITL 3)
TLH51 Norwich and East Norfolk
Delivery Location
TLH15 Norwich and East Norfolk

Local Authority
Norwich
Electoral Ward
Mancroft
Westminster Constituency
Norwich South

Supplier Information

Number of Suppliers
1
Supplier Name

NPS PROPERTY CONSULTANTS

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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