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P23-0122: Scottish Enterprise Investment Property Portfolio - Asset Valuation Service

Scottish Enterprise

This public procurement record has 2 releases in its history.

Award

01 Aug 2023 at 01:00

OJEU - F3 - Contract Award Notice
Tender

02 May 2023 at 01:00

OJEU - F2 - Contract Notice
Summary of the contracting process

The public procurement contracting process is being managed by Scottish Enterprise for the procurement of a property asset valuation service for its investment property portfolio. The title of the tender is "P23-0122: Scottish Enterprise Investment Property Portfolio - Asset Valuation Service" and falls under the services category. The buying organisation, Scottish Enterprise, is based in Glasgow, UK. The procurement stage is now in the award phase, with the tender awarded on 1st August 2023. The contract is valued at GBP 237,000 and is active, starting a three-year period from 1st August 2023.

This tender opportunity presents business growth prospects for firms providing property asset valuation services. Companies in the real estate, valuation, and consultancy sectors are well-suited to compete for this contract. The procurement method is open, providing equal opportunities for interested businesses to bid. The contract duration is initially three years, with an option for a one-year extension. Interested businesses need to ensure compliance with the procurement requirements and deliver high-quality and cost-effective services to Scottish Enterprise for the specified property valuation needs.

How relevant is this notice?

Notice Information

Notice Title

P23-0122: Scottish Enterprise Investment Property Portfolio - Asset Valuation Service

Notice Description

Scottish Enterprise is seeking to commission a supplier to provide a property asset valuation service for Scottish Enterprise's investment property portfolio. The value of the land and property assets is required to ensure that the value of the property assets of Scottish Enterprise are properly represented in its financial accounts and is to be carried out in accordance with the RICS Appraisal and Valuation Standards. The requirement is to prepare bi-annual and annual valuations of the properties on the basis of "fair value" which to all intents and purposes will be the open market value. Scottish Enterprise's investment property portfolio is currently valued at GBP149M (as of March 2023), and comprises: - Industrial buildings - Offices - Business parks - Business centres - Energy, Science and Technology parks - Development land - Other property interests This contract will for a three-year period commencing on c.1 August 2023. After this time, Scottish Enterprise will have the option to extend the contract for a further one-year period. The anticipated value of the contract over the maximum four year duration is anticipated as being between GBP200,000 and GBP300,000 (excl VAT).

Lot Information

Lot 1

Scottish Enterprise is seeking to commission a supplier to provide a property asset valuation service for Scottish Enterprise's investment property portfolio. The value of the land and property assets is required to ensure that the value of the property assets of Scottish Enterprise are properly represented in its financial accounts and is to be carried out in accordance with the RICS Appraisal and Valuation Standards. The requirement is to prepare bi-annual and annual valuations of the properties on the basis of "fair value" which to all intents and purposes will be the open market value. Scottish Enterprise's investment property portfolio is currently valued at GBP149M (as of March 2023), and comprises: - Industrial buildings - Offices - Business parks - Business centres - Energy, Science and Technology parks - Development land - Other property interests This contract will for a three-year period commencing on c.1 August 2023. After this time, Scottish Enterprise will have the option to extend the contract for a further one-year period. The anticipated value of the contract over the maximum four year duration is anticipated as being between GBP200,000 and GBP300,000 (excl VAT).. Economic operators may be excluded from this competition if they are in any of the situations referred to in Regulation 58 of the Public Contracts (Scotland) Regulations 2015.

Options: Following the initial period of 36 months, Scottish Enterprise reserves the right to extend the contract by a further period of 12 months.

Renewal: Following the initial period of 36 months, Scottish Enterprise reserves the right to extend the contract by a further period of 12 months.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000724042
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=AUG484995
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

70 - Real estate services

CPV Codes

70000000 - Real estate services

70120000 - Buying and selling of real estate

70121000 - Building sale or purchase services

70122000 - Land sale or purchase services

70300000 - Real estate agency services on a fee or contract basis

70332000 - Non-residential property services

Notice Value(s)

Tender Value
£300,000 £100K-£500K
Lots Value
£300,000 £100K-£500K
Awards Value
Not specified
Contracts Value
£237,000 £100K-£500K

Notice Dates

Publication Date
1 Aug 20233 years ago
Submission Deadline
6 Jun 2023Expired
Future Notice Date
Not specified
Award Date
1 Aug 20233 years ago
Contract Period
Not specified - Not specified
Recurrence
This service may be re-tendered towards the end of the contract, during 2026 or 2027, subject to the additional 12 month extension being taken forward. Scottish Enterprise publishes a Forward Plan of procurement activity on https://www.scottish-enterprise.com/.

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Scottish Enterprise
Additional Buyers

Scottish Government

Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
GLASGOW
Postcode
G2 6HQ
Postcode Area
Glasgow
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM3 West Central Scotland
Small Region (ITL 3)
TLM32 Glasgow City
Delivery Location
TLM Scotland
Local Authority
Glasgow City
Electoral Ward
Anderston/City/Yorkhill
Westminster Constituency
Glasgow North

Supplier Information

Number of Suppliers
1
Supplier Name

Graham + Sibbald

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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