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Lincolnshire County Council- Financial Accounting Valuations

Lincolnshire County Council

This public procurement record has 1 release in its history.

Planning

21 Aug 2026 at 14:43

UK2 - Preliminary Market Engagement Notice
Summary of the contracting process

Lincolnshire County Council intends to outsource financial accounting valuation services for its diverse property portfolio. The work covers operational and non-operational assets including schools, offices, fire stations, libraries, investment properties, land holdings, surplus assets and leasehold interests. Services will support rolling asset revaluations, investment property valuations and IFRS 16 lease accounting, alongside impairment reviews, component accounting, assets held for sale, and valuations linked to acquisitions, disposals or changes in use. The provider will work with the Council’s Corporate Property and Finance teams and deliver clear, auditable reporting for the annual Statement of Accounts. Required outputs may include asset lives, residual values, land and building apportionments, component valuations, fair value assessments and valuation narratives. Delivery is across Lincolnshire County Council’s property portfolio.

This procurement is at the planning stage: the Council has announced its intention to procure and is seeking market feedback before issuing an invitation to tender. A pre-market engagement questionnaire is planned, with responses requested by 4 September 2026 through the Panacea e-Tendering Portal. The anticipated contract period is 1 December 2026 to 30 November 2031. The published procurement value is £0 in GBP, while the property portfolio covered has an accounting value of around £796.4 million. The portfolio contains approximately 850 assets, with at least 20% currently revalued each year under a five-year rolling programme. This is a single planned lot, marked as suitable for small and medium-sized enterprises. The procurement is classified as non-residential property services.

The planned work will suit firms with established property valuation teams and experience supporting local-government financial reporting. Strong candidates are likely to be able to value varied public-sector and commercial property assets at scale, manage recurring annual workloads and provide additional specialist capacity for year-end requirements and ad hoc instructions. Relevant expertise includes investment property, impairment, component accounting, IFRS 16 lease valuations, assets held for sale, acquisitions, disposals and changes in use. The Council says valuations and reporting must comply with statutory accounting requirements, International Financial Reporting Standards, the CIPFA/LASAAC Code of Practice on Local Authority Accounting and the RICS Valuation Standards, or Red Book. Providers should be prepared to produce robust, auditable information and clear supporting narratives within prescribed reporting timescales.

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Notice Information

Notice Title

Lincolnshire County Council- Financial Accounting Valuations

Notice Description

Lincolnshire County Council manages a substantial and diverse property portfolio consisting of both operational and non-operational assets, including schools, offices, fire stations, libraries, investment properties, land holdings, surplus assets and leasehold interests. The portfolio comprises approximately 850 assets with a total accounting value of around PS796.4 million, making it one of the Council's most significant corporate resources and a key component of its balance sheet. The portfolio is subject to a range of statutory valuation and financial reporting requirements, including rolling asset valuations, investment property valuations and IFRS 16 lease accounting valuations. The Council is required to maintain up-to-date property valuations to support statutory financial reporting and ensure compliance with the CIPFA/LASAAC Code of Practice on Local Authority Accounting, International Financial Reporting Standards (IFRS), and the RICS Valuation Standards ("Red Book"). The Council currently operates a five-year rolling valuation programme, under which a minimum of 20% of assets are revalued annually. In addition to cyclical revaluations, the Council may require a range of specialist valuation services to support year-end accounting requirements, including impairment reviews, investment property valuations, component accounting assessments, IFRS 16 lease valuations, reviews of assets held for sale, and ad hoc valuations arising from acquisitions, disposals and changes in asset use. To ensure continued compliance with statutory accounting requirements and to provide sufficient specialist capacity and resilience, the Council intends to outsource the valuation of its property portfolio to an appropriately qualified and experienced provider. The appointed provider will be responsible for delivering valuations and associated reporting in accordance with relevant accounting and professional standards, providing robust and auditable valuation information to support the preparation of the Council's annual Statement of Accounts. The successful provider will work closely with both the Corporate Property and Finance teams to deliver valuation services within prescribed reporting timescales and provide clear supporting information, including asset lives, residual values, land and building apportionments, component valuations, fair value assessments and valuation narratives where required

Planning Information

This Pre-Market Engagement Pack is intended to inform the market of an upcoming opportunity, assist the Council in understanding current market capacity, and solicit feedback to help shape our requirements. You are under no obligation to complete the Pre-Market Engagement Questionnaire however your support with sharing of knowledge on any of the questions listed below would be greatly appreciated. The Pre-Market Engagement is being administered through Panacea e-Tendering Portal. To participate in the Pre Market Engagement, please complete the Questionnaire and submit your completed Questionnaire using this event by 12:00 on the 04th September 2026. Pre-Market Engagement Pack available at https://app.panacea-software.com/lcc/eRFX-Public/ResearchOpportunities.aspx

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06e9b7
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/079981-2026
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
UK2 - Preliminary Market Engagement Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

70 - Real estate services

CPV Codes

70332000 - Non-residential property services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
21 Aug 20263 days ago
Submission Deadline
Not specified
Future Notice Date
4 Sep 20262 weeks to go
Award Date
Not specified
Contract Period
1 Dec 2026 - 30 Nov 2031 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Planning
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Lincolnshire County Council
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LINCOLN
Postcode
LN1 1YL
Postcode Area
Lincoln
Country
England
Major Region (ITL 1)
TLF East Midlands (England)
Basic Region (ITL 2)
TLF3 Lincolnshire
Small Region (ITL 3)
TLF30 Lincolnshire CC
Delivery Location
Not specified
Local Authority
Lincoln
Electoral Ward
Carholme
Westminster Constituency
Lincoln

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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