--- title: "Asset & Insurance Reinstatement Valuation plus Associated Work" ocid: "ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433.json" source: "Contracts Finder" current_stage: "Award" buyer: "HEREFORDSHIRE COUNCIL" published: "2018-11-16" --- # Asset & Insurance Reinstatement Valuation plus Associated Work Buyer: HEREFORDSHIRE COUNCIL Current stage: Award OCID: ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433.json) ## Summary Herefordshire Council is seeking suppliers for the contract titled "Asset & Insurance Reinstatement Valuation plus Associated Work," which is classified under real estate services. This procurement is currently at the award stage, with an active contract value of £150,000, set to commence on 1 December 2018 and conclude by 31 July 2021. The tender process, which followed an open procedure, was initially published on 5 October 2018, and the tender period ended on 1 November 2018. The work will primarily take place in the West Midlands region of the United Kingdom. This tender presents significant opportunities for businesses, particularly small and medium enterprises (SMEs) and voluntary community sector enterprises (VCSEs) that specialise in asset valuation and real estate services. Firms equipped with expertise in compliance with RICS and IFRS standards, as well as those able to perform detailed market reviews, will be particularly well-suited to compete for this contract. Engaging in this contract could enhance the business's portfolio and establish a long-term relationship with Herefordshire Council. ## Notice Herefordshire Council requires formal asset valuations for inclusion in the Council's asset register and balance sheet by the end of the financial year. This needs to be undertaken in accordance with guidance produced by the RICS (Royal Institution of Chartered Surveyors) and the International Financial Reporting Standards (IFRS) - Code of Practice on Local Authority Accounting (the Code) published by CIPFA (Chartered Institute of Public Finance and Accountancy). An extract from the CIPFA Code guidance relating to the split of responsibilities between Valuer & finance colleagues is attached. Annual valuations are required for all investment assets, assets held for sale, surplus assets, assets changing asset class, assets substantially improved or impaired in addition to land and building assets valued bi-annually. A "market forces review" on a regional sector basis is required as a validation check to provide assurance that there has been no significant change in the value for those assets that have not been revalued in the financial year. Herefordshire Council has published this opportunity on the 'Supplying the Southwest Portal'. To view the tender documentation related to this opportunity you will need to register on the portal, if you are not already register with Procontract, and express an interest in the opportunity. To Register with Supplying the Southwest Portal (Procontract) click on the link below or copy and paste the link into your browser address bar; https://www.supplyingthesouthwest.org.uk ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/d03af2a2-5c93-449a-ae20-1eb22737692e | | Notice type | Award Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure | | Tender suitability | SME, VCSE | | Awardee scale | SME | | All stages | Tender, Award | ## Dates | Field | Value | | --- | --- | | Publication date | 16 Nov 2018 | | Submission deadline | 1 Nov 2018 | | Future notice date | Not specified | | Award date | 15 Nov 2018 | | Contract period | 1 Dec 2018 - 31 Jul 2021 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £150,000 | | Lots value | Not specified | | Awards value | £150,000 | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Complete | | Lots status | Not specified | | Awards status | Active | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | HEREFORDSHIRE COUNCIL | | Locality | HEREFORD | | Post town | Hereford | | Postcode | HR4 0LE | | Country | England | | ITL 1 | TLG West Midlands (England) | | ITL 2 | TLG1 Herefordshire, Worcestershire and Warwickshire | | ITL 3 | TLG11 Herefordshire, County of | | Local authority | Herefordshire, County of | | Electoral ward | Widemarsh | | Westminster constituency | Hereford and South Herefordshire | | Delivery location | TLG West Midlands (England) | ## Supplier | Field | Value | | --- | --- | | Number of suppliers | 1 | | Supplier names | WILKS HEAD & EVE | ## CPV Codes ### Divisions - 70 - Real estate services ### Codes - 70000000 - Real estate services ## Release History - 16 Nov 2018 at 15:59 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/d03af2a2-5c93-449a-ae20-1eb22737692e - 5 Oct 2018 at 08:12 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/715fa67b-ac46-439f-b124-77385d549aa8 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/d03af2a2-5c93-449a-ae20-1eb22737692e 16th November 2018 - Awarded contract notice on Contracts Finder - https://www.contractsfinder.service.gov.uk/Notice/715fa67b-ac46-439f-b124-77385d549aa8 5th October 2018 - Opportunity notice on Contracts Finder ## Notice URLs - https://supplyingthesouthwest.org.uk - https://www.supplyingthesouthwest.org.uk ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-49aa516d-a6ae-4cca-be9e-af785287a433.json.