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Location Strategy: Main Works

BANK OF ENGLAND

This public procurement record has 3 releases in its history.

Award

26 Oct 2026 at 14:16

UK6 - Contract Award Notice
Tender

31 Mar 2026 at 12:13

UK4 - Tender Notice
Planning

22 May 2025 at 17:56

UK1 - Pipeline Notice
Summary of the contracting process

The Bank of England selected a main contractor for construction and refurbishment works at its Threadneedle Street estate in London, as part of its Location Strategy. The scope combines general and section-specific pre-construction services, preliminaries and phased construction. Work covers preparatory works, replacement of core infrastructure, and refurbishment of the ground floor, auditorium, workplace floors and basement. The precise sections are to be developed during pre-construction; the Bank may change or omit sections, and each proceeds only when formally instructed. The project concerns a historic, operational estate, with construction and engineering works (CPV 45210000) forming the core requirement. The procurement also includes associated services.

The process has been awarded to Sir Robert McAlpine Limited; the award is recorded as pending. The award date was 26 October 2026 and its value is £133 million excluding VAT (£159.6 million including VAT). The contract period is scheduled from 20 November 2026 to 19 November 2030, with an option to extend by up to 12 months, to 19 November 2031. The Bank used a competitive flexible procedure, with staged assessment, shortlisting, negotiations and final offers. Four bids were received and three suppliers reached the final stage. Evaluation weighted commercial cost and price at 30%; the remaining 70% covered construction strategy, heritage and sustainability, commercial control, design management, programme and risk, team and supply chain, and social value. Participation conditions included financial capacity, insurance, health and safety, relevant experience, accreditations and organisational standards.

For a future requirement of this kind, credible competitors would need to be experienced main contractors able to resource a complex, phased programme in a live, secure and heritage-sensitive building. Strong capability in pre-construction planning, coordination and construction delivery would be central, alongside managing replacement infrastructure and varied refurbishment work across occupied or operational parts of an estate. The successful evaluation also shows the importance of demonstrable cost certainty and commercial control, programme and risk governance, design management across interfaces, and a capable project team and supply chain. Suppliers should be prepared to evidence relevant contracts and organisational standards, and meet expectations covering financial strength, insurance, health and safety, professional memberships or accreditation, quality assurance, carbon reduction, modern slavery, equality and diversity, business continuity and wider environmental, social and governance matters.

How relevant is this notice?

Notice Information

Notice Title

Location Strategy: Main Works

Notice Description

The Bank is seeking a highly experienced, appropriately resourced and capable Main Contractor to deliver the Main Works associated with the consolidation and refurbishment of its Threadneedle Street estate, as part of the Bank's Location Strategy Project. The Project represents a significant investment in the long-term stewardship of the Bank's estate and involves the delivery of a complex construction programme. The Bank expects the appointed Main Contractor to demonstrate a high standard of competence in planning, coordination and execution, together with a disciplined approach to safety, quality, programme and cost control The Main Works and associated services included in the scope of this procurement include, but is not limited to: * General pre-construction services; * Section-specific pre-construction services; * General and Section-specific preliminaries; * Works to be delivered in Sections with Sections that cover a wide range of scope, including, but not limited to: o Preparatory Works o Replacement of core infrastructure o Ground Floor o Auditorium o Workplace Floors o Basement Works The exact scope of each Section will be developed during the pre-construction stage. An indicative description of the Sections is set out in the Statement of Requirements. The Bank reserves the right to refine, expand, reduce, or omit the scope, content, and timing of any Section prior to its instruction. No Section will proceed unless and until the Bank issues a formal notice to proceed for that Section. The Bank intends to (and reserves the right to) directly award additional or repeat works that are similar to the works supplied under the contract which is the subject matter of this Tender Notice, in accordance with Schedule 5, paragraph 8 of PA 2023.

Lot Information

Lot 1

Options: The works themselves will commence in phases as Sections are identified and instructed by the Bank. An indicative description of the Sections is set out in the Statement of Requirements. The Bank reserves the right to refine, expand, reduce, or omit the scope, content, and timing of any Section prior to its instruction. No Section will proceed unless and until the Bank issues a formal notice to proceed for that Section. Further details are set out in the Statement of Requirements provided as part of the associated tender documents.

Renewal: The initial contract term is for 4 years with an option to extend at the Bank's discretion (and in one or more extension periods) up to a further 12 months.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-051f69
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/101071-2026
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Works
Procurement Method
Selective
Procurement Method Details
Competitive flexible procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

45 - Construction work

CPV Codes

45210000 - Building construction work

45220000 - Engineering works and construction works

Notice Value(s)

Tender Value
£141,666,666 £100M-£1B
Lots Value
£141,666,666 £100M-£1B
Awards Value
£133,000,000 £100M-£1B
Contracts Value
Not specified

Notice Dates

Publication Date
26 Oct 2026Today
Submission Deadline
15 May 2026Expired
Future Notice Date
1 Dec 2025Expired
Award Date
26 Oct 2026Yesterday
Contract Period
20 Nov 2026 - 19 Nov 2030 4-5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Pending
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
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
EC2R 8AH
Postcode Area
Central 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
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

Sir Robert McAlpine Ltd

Further Information

Notice Documents

  • https://www.find-tender.service.gov.uk/Notice/101071-2026
    26th October 2026 - Contract award notice on Find a Tender
  • https://www.find-tender.service.gov.uk/Notice/029574-2026
    31st March 2026 - Tender notice on Find a Tender
  • https://www.find-tender.service.gov.uk/Notice/025366-2025
    22nd May 2025 - Pipeline notice on Find a Tender
  • https://supplierlive.proactisp2p.com/
    Documents to be provided after the tender notice A - Instructions to Suppliers B - Procurement Specific Questionnaire C - Invitation to Tender (including Tender Questions) D - Statement of Requirements E - Pricing Schedule F - Draft Contract G - Supplier Code of Practice H - Freedom of Information Form I - Form of Tender Other Documents - Bank of England Security Schedule Documents are provided on the Bank of England's Procurement portal https://supplierlive.proactisp2p.com/ Due to the sensitive nature of the Threadneedle Street building and associated documentation, interested suppliers are required to complete a non-disclosure agreement in order to access the associated tender documents. Interested suppliers should email tenderteam@bankofengland.co.uk with the reference "PROC/473 LSP - Main Works - NDA Request" within the subject, and confirm the signatory name and e-mail address for the Non-disclosure Agreement, this will then be issued via Docusign.

Open Contracting Data Standard (OCDS)

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