---
title: "BBC Property valuation review_1"
ocid: "ocds-b5fd17-ed3a64f3-186e-45de-a48f-3335541f1e28"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-ed3a64f3-186e-45de-a48f-3335541f1e28"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-ed3a64f3-186e-45de-a48f-3335541f1e28.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-ed3a64f3-186e-45de-a48f-3335541f1e28.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "NATIONAL AUDIT OFFICE"
published: "2022-10-06"
---

# BBC Property valuation review_1

Buyer: NATIONAL AUDIT OFFICE  
Current stage: Award  
OCID: ocds-b5fd17-ed3a64f3-186e-45de-a48f-3335541f1e28

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## Summary

The National Audit Office has awarded a contract for the BBC Property valuation review_1 to MONTAGU EVANS LLP. The procurement stage was an award, and the contract value is £138,750 GBP. The contract period starts from July 18, 2022, and ends on July 17, 2027. The procurement method used was selective, calling off from a framework agreement. The tender period ended on June 18, 2022. The contract involves financial auditing services and is suitable for SMEs. The procurement location is in London with the postal code SW1W9SP.

This tender for financial auditing services by the National Audit Office presents opportunities for businesses specializing in valuation services to participate in the audit of the Department for Digital Culture Media and Sport's financial statements. Companies with expertise in property valuation, especially those with RICS qualifications, are well-suited to compete for this contract. The tailored valuation support required by the NAO offers a niche opportunity for businesses seeking to grow through public procurement contracts in the financial auditing sector.

## Notice

The NAO requires specialist valuation support from RICS qualified surveyors for the audit of the Department for Digital Culture Media and Sport (DCMS) 2021-22, 2022-23 and 2023-24 group financial statements. The BBC's freehold and leasehold property assets are consolidated into the DCMS group accounts at fair value (as defined in IAS 16 and IFRS 13) under the Government's Financial Reporting Manual (FReM). The BBC commission Lambert Smith Hampton to value its freehold and leasehold properties on a cyclical basis in accordance with the FReM. As part of our audit the NAO requires an explicit conclusion, based on reasonably sufficient and appropriate procedures over each property within the sample of assets, as to whether the valuation reached by BBC and LSH is within a reasonable range. The NAO requires specialist valuation support (an auditor expert) to reperform an independent valuation of the sampled assets. As part of completing this engagement, the auditor expert will: * review the valuation reports and valuation model/calculations provided by BBC and LSH; * review the explicit/implicit (including completeness of) assumptions supporting the BBC's valuation; * arrange and undertake physical inspections, to understand the particular properties and determine a valuation range. The NAO will test the accuracy of significant factual inputs (for example passing rents for leasehold or leased away properties) to supporting documentation as part of reaching a conclusion on the appropriateness of the valuation of each sampled property.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/b4196150-1bf6-4340-81e0-04ebe73270b9 |
| 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 | SME |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 6 Oct 2022 |
| Submission deadline | 18 Jun 2022 |
| Future notice date | Not specified |
| Award date | 3 Jul 2022 |
| Contract period | 17 Jul 2022 - 17 Jul 2027 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £138,750 |
| Lots value | Not specified |
| Awards value | £138,750 |
| 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 | NATIONAL AUDIT OFFICE |
| Locality | LONDON |
| Post town | South West London |
| Postcode | SW1W 9SP |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | Pimlico North |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | MONTAGU EVANS |

## CPV Codes

### Divisions

- 79 - Business services: law, marketing, consulting, recruitment, printing and security

### Codes

- 79212100 - Financial auditing services

## Release History

- 6 Oct 2022 at 09:25 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/b4196150-1bf6-4340-81e0-04ebe73270b9

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/b4196150-1bf6-4340-81e0-04ebe73270b9
  6th October 2022 - Awarded contract notice on Contracts Finder

## 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-ed3a64f3-186e-45de-a48f-3335541f1e28. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-ed3a64f3-186e-45de-a48f-3335541f1e28.json.