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Valuation Services for Lothian Pension Fund (LPF)

The City of Edinburgh Council

This public procurement record has 1 release in its history.

Award

24 Apr 2026 at 01:00

PCS Notice - Website Contract Award Notice
Summary of the contracting process

The City of Edinburgh Council, acting as the administering authority for the Lothian Pension Fund (LPF), has concluded the awarding of a contract for property valuation services. This contract supports LPF’s estate and financial decisions and aligns with their investment strategy. The procurement process utilised an open procedure method, classified under general public services within the services category. This contract has been awarded to Savills (UK) Ltd for the delivery of quarterly valuations of LPF assets. Located in Edinburgh, within region UKM75, this procurement is now in the contract award stage, with important milestone details including contract signing on 17th April 2026, and an anticipated total contract value of £450,000 GBP. Businesses had the opportunity to submit bids electronically, and a total of four were received. This award is contained under the Crown Commercial Service (CCS) framework for Estate Management Services.

This contract presents substantial opportunities for businesses engaged in property valuation and real estate services, particularly large firms like Savills (UK) Ltd, who can leverage their expertise in delivering valuation services in accordance with RICS Valuation Global Standards. The absence of bids from SMEs highlights the specialised nature of the work involved, favouring companies with extensive resources and industry know-how. Businesses in real estate consultancy or financial analysis dealing with property portfolios may find similar opportunities beneficial for growth and establishing long-term government partnerships. The contract will require consistent engagements with LPF’s property portfolio, ideal for firms seeking to expand their market presence within the public sector in the UK.

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Notice Information

Notice Title

Valuation Services for Lothian Pension Fund (LPF)

Notice Description

The City of Edinburgh Council (the Council), acting as administering authority on behalf of Lothian Pension Fund (LPF), is seeking a contract for property valuation services. This service supports LPF's estate and financial decisions and the delivery of the investment strategy.

Lot Information

Lot 1

Lothian Pension Fund (LPF) is seeking a contract for property valuation services. This service supports LPF's estate and financial decisions and the delivery of the investment strategy. The Provider will be required to undertake quarterly valuations of the LPF direct property portfolio assets in accordance with the current version of the RICS Valuation - Global Standards, incorporating the International Valuation Standards and the UK National Supplement ('the Red Book').

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000819513
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR554599
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
PCS Notice - Website 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

66 - Financial and insurance services

CPV Codes

66131100 - Pension investment services

66141000 - Pension fund management services

66523000 - Pension fund consultancy services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£450,000 £100K-£500K

Notice Dates

Publication Date
24 Apr 20264 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
The City of Edinburgh 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
EDINBURGH
Postcode
EH8 8BG
Postcode Area
Edinburgh
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM1 East Central Scotland
Small Region (ITL 3)
TLM13 City of Edinburgh
Delivery Location
TLM75 City of Edinburgh
Local Authority
City of Edinburgh
Electoral Ward
City Centre
Westminster Constituency
Edinburgh East and Musselburgh

Supplier Information

Number of Suppliers
1
Supplier Name

Savills

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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