---
title: "Revaluation of the Science and Technology Facilities Council's Land and Building Assets"
ocid: "ocds-b5fd17-b8e13ee8-74fa-4cfd-b897-f8ec948f45c6"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-b8e13ee8-74fa-4cfd-b897-f8ec948f45c6"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-b8e13ee8-74fa-4cfd-b897-f8ec948f45c6.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-b8e13ee8-74fa-4cfd-b897-f8ec948f45c6.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "UK SHARED BUSINESS SERVICES LIMITED"
published: "2018-01-02"
---

# Revaluation of the Science and Technology Facilities Council's Land and Building Assets

Buyer: UK SHARED BUSINESS SERVICES LIMITED  
Current stage: Award  
OCID: ocds-b5fd17-b8e13ee8-74fa-4cfd-b897-f8ec948f45c6

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## Summary

The procurement process titled "Revaluation of the Science and Technology Facilities Council's Land and Building Assets" is conducted by UK Shared Business Services Limited, aiming to obtain independent professional revaluations for property, plant, and equipment every five years. This tender falls under the 'services' industry category and is situated in locations including Didcot, Oxfordshire, and Warrington. The contract period commenced on 18 December 2017 and concludes on 30 March 2018. The procurement method for this contract involved a selective approach, specifically a call-off from a framework agreement, with the tender period having ended on 28 November 2017.

This tender presents significant opportunities for professional surveying firms and businesses specialising in asset valuation, particularly those experienced with Royal Institute of Chartered Surveyors (RICS) practices. Companies that offer services in building management, asset appraisal, and similar sectors can benefit from this project. The selected contractor, GVA Grimley Limited, has been awarded a contract valued at £60,000, indicating the financial potential for partners in this opportunity, notably within the competitive landscape of Public Sector contracts.

## Notice

The Science & Technology Facilities Council (STFC) requires Independent professional revaluations for all property, plant and equipment (PPE) every five years and are revised in the intervening years by the use of appropriate indices. PPE are professionally revalued on different cycles. Land and buildings at some of the STFC sites are due to be professionally re-valued. Following the implementation of IFRS13, HM Treasury has adapted IAS 16 Property, Plant and Equipment. This requires that assets in use, which are held for their service potential (operational assets), should be measured at their current value in existing use. For non-specialised assets, current value in existing use should be interpreted as market value in existing use, which is taken to be existing use value (EUV). For specialised assets current value in existing use should be interpreted as depreciated replacement cost (DRC). Assets are depreciated on a straight line basis over their estimated useful lives. The estimated life for freehold buildings is 60 years and for leasehold properties 60 years or the terms of the lease. Land is not depreciated. 2. Scope of the Work Valuations a. The service required is as follows: i. To provide valuations for the Council's land and building assets located at the Rutherford Appleton Laboratory (RAL), Didcot, Oxfordshire. ii. To provide bespoke revaluation indices for the Council's land and building assets located at Daresbury Laboratory (DL), Warrington. iii. To provide valuations for the land and building assets of STFC's Joint Venture company Diamond Light Source Limited (DLSL). DLSL is located on the RAL site in Didcot. iv. To provide remaining useful lives for the revalued assets. b. The valuations are to be as at 31st January 2018. c. All valuations are to be carried out in accordance with the current practice and guidance notes of the Royal Institute of Chartered Surveyors (RICS). This requirement was advertised via a Mini Competition undertaken on the CCS RM3816 Estates Professional Services Framework Lot 1

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/8c0c89bd-ff20-47bd-804e-3af2d8598a3c |
| Notice type | Award Notice |
| Procurement type | Framework |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Call-off from a framework agreement |
| Tender suitability | SME |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 2 Jan 2018 |
| Submission deadline | 28 Nov 2017 |
| Future notice date | Not specified |
| Award date | 7 Dec 2017 |
| Contract period | 18 Dec 2017 - 30 Mar 2018 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | £60,000 |
| 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 | UK SHARED BUSINESS SERVICES LIMITED |
| Locality | SWINDON |
| Post town | Swindon |
| Postcode | SN2 1FF |
| Country | England |
| ITL 1 | TLK South West (England) |
| ITL 2 | TLK7 Gloucestershire and Wiltshire |
| ITL 3 | TLK71 Swindon |
| Local authority | Swindon |
| Electoral ward | Rodbourne Cheney |
| Westminster constituency | Swindon North |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | GVA GRIMLEY |

## CPV Codes

### Divisions

- 71 - Architectural, construction, engineering and inspection services

### Codes

- 71315000 - Building services

## Release History

- 2 Jan 2018 at 12:14 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/8c0c89bd-ff20-47bd-804e-3af2d8598a3c

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/8c0c89bd-ff20-47bd-804e-3af2d8598a3c
  2nd January 2018 - Awarded contract notice on Contracts Finder

## Provenance

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