---
title: "Valuation of Assets"
ocid: "ocds-h6vhtk-038813"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-038813"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-038813.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-038813.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "ISLE OF WIGHT COUNCIL"
published: "2022-11-24"
---

# Valuation of Assets

Buyer: ISLE OF WIGHT COUNCIL  
Current stage: Award  
OCID: ocds-h6vhtk-038813

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[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-038813.json)

## Summary

The Isle of Wight Council has awarded a contract for the "Valuation of Assets" services to Wilks Head & Eve LLP through a limited procurement method. The contract, with an active status, was signed on 24th November 2022 and is valued at £135,000. This procurement opportunity falls under the real estate services category and involves the valuation of assets to comply with various industry standards.

This tender presents opportunities for businesses specializing in accounting, auditing, and real estate services to engage with the public sector. Companies that have expertise in valuing assets, possess strong staff and resources, effective communication methods, and can deliver social value are well-suited to compete. The procurement process, initiated as a tender, is at the award stage, offering businesses a chance to provide their services to the Isle of Wight Council and potentially secure future extensions until 31st December 2027.

## Notice

Provision of a specialist practice to undertake a valuation of its assets in order to comply with CIPFA Code of Practice on Local Authority Accounting, RICS Valuation Professional Standards and the International Valuation Standards and International Standards on Auditing.

### Lot Information

Lot 1

The Authority requires its assets valued in order to comply with * CIPFA Code of Practice on Local Authority Accounting insofar as it relates to valuations for the balance sheet and related disclosures including bases of value, valuation frequency, componentisation, lease classification, impairment etc., and associated practical approaches, including the key changes arising from IFRS16 * RICS Valuation Professional Standards and the International Valuation Standards insofar as they relate to local authority asset valuations, together with the associated practical approaches. * International Standards on Auditing as adapted for the UK and gain practical tips for a smoother audit process Further competition carried out under ESPO Framework 2700_22. Additional information: The value at II.1.7 refers to the initial term value. If both extensions are utilised then the whole life cost would be in the region of PS225,000. IV.1.1 refers to a further competition process under ESPO Framework 2700_22.

Options: 2 x 12 month extensions taking the end date to 31 December 2027

### Procurement Information

A further competition process had been carried out under ESPO Framework 2700_22 Estates Management Professional Services.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/033378-2022 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Limited |
| Procurement method details | Award procedure without prior publication of a call for competition |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 24 Nov 2022 |
| Submission deadline | Not specified |
| Future notice date | Not specified |
| Award date | 24 Nov 2022 |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | £135,000 |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | ISLE OF WIGHT COUNCIL |
| Locality | NEWPORT |
| Post town | Portsmouth |
| Postcode | PO30 1UD |
| Country | England |
| ITL 1 | TLJ South East (England) |
| ITL 2 | TLJ3 Hampshire and Isle of Wight |
| ITL 3 | TLJ34 Isle of Wight |
| Local authority | Isle of Wight |
| Electoral ward | Newport Central |
| Westminster constituency | Isle of Wight West |
| Delivery location | TLJ34 Isle of Wight |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | WILKS HEAD & EVE |

## CPV Codes

### Divisions

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

### Codes

- 70000000 - Real estate services
- 79210000 - Accounting and auditing services

## Release History

- 24 Nov 2022 at 14:14 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/033378-2022

## Notice URLs

- http://www.iwight.com

## 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-h6vhtk-038813. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-038813.json.