---
title: "IFRS 16 Lease Management Hub"
ocid: "ocds-h6vhtk-044dd7"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-044dd7"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-044dd7.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-044dd7.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE"
published: "2025-02-20"
---

# IFRS 16 Lease Management Hub

Buyer: FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE  
Current stage: Award  
OCID: ocds-h6vhtk-044dd7

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## Summary

The Foreign Commonwealth and Development Office (FCDO) is seeking to establish an IFRS 16 Lease Management Hub to enhance lease data accuracy and compliance with new accounting standards. This procurement process is in the planning stage, with intentions shared in a Prior Information Notice (PIN) to gauge market interest. The hub will centralise lease data input to improve accuracy and assist in compliance with cross-government property standards. Interested suppliers are invited to submit their interest by 9th April 2024 and attend an online engagement session on 16th April 2024. The procurement involves services within the "Miscellaneous business and business-related services" industry, and the contract period is set to begin on 1st October 2024, potentially extending over five years.

This tender offers significant opportunities for businesses specialising in lease management and real estate services. Companies with experience in centralised data management, compliance with international accounting standards, and those equipped to provide robust operational support for large-scale government projects would find this opportunity particularly beneficial. The contract has a substantial value of up to £4.9 million, presenting a lucrative prospect for capable suppliers to showcase their expertise and potentially secure long-term collaborations with FCDO. The project falls within the "General public services," and is a fitting opportunity for well-established firms aiming to expand their footprint in government contracts and international service management.

## Notice

The adoption by FCDO of a new accounting standard (International Financial reporting Standard [IFRS] 16), now demands a level of rigour and accuracy in accounting for FCDO leases. It is proposed to centralise all lease data inputting into a hub to improve accuracy. To do this FCDO is seeking to set up an (initially) outsourced, lease management hub to process all FCDO lease events (new leases, lease extensions, rent reviews and lease terminations).

### Lot Information

Lot 1

The adoption by FCDO of a new accounting standard (International Financial reporting Standard [IFRS] 16), now demands a level of rigour and accuracy in accounting for FCDO leases. It is proposed to centralise all lease data inputting into a hub to improve accuracy. To do this FCDO is seeking to set up an (initially) outsourced, lease management hub to process all FCDO lease events (new leases, lease extensions, rent reviews and lease terminations). 3.3 FCDO is now creating centralised lease management service to proactively identify upcoming lease events for properties overseas, and to retrieve the details of those events with supporting documentation, and for a dedicated team of lease managers to enter that data into the IWMS system and then quality assure and approve that data in the system. This will improve the accuracy of the accounting outputs and also assist FCDO to comply with cross government property standards (GOVS_004). The service will also work with FCDO Finance team to make corrections in our IWMS that arise from reconciliations within the accounting system - the reconciliation work will be undertaken by the FCDO Finance Team.

Options: The contract will be valid for a period of 2 years with the possibility of 3 optional extensions of 1-year each.

Renewal: The contract is expected to commence 1 October 2024 and will be valid for a period of 2 years with the possibility of 3 optional extensions of 1-year each.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/006423-2025 |
| Notice type | Planning Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Planning, Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 20 Feb 2025 |
| Submission deadline | 24 Jun 2024 |
| Future notice date | 12 May 2024 |
| Award date | 29 Oct 2024 |
| Contract period | 30 Sep 2024 - 30 Sep 2026 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £4,250,000 |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | £1,529,668 |

## Status

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

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE |
| Locality | LONDON |
| Post town | South West London |
| Postcode | SW1A 2AH |
| 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 | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | DELOITTE |

## CPV Codes

### Divisions

- 70 - Real estate services

### Codes

- 70000000 - Real estate services

## Release History

- 20 Feb 2025 at 16:51 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/006423-2025
- 24 May 2024 at 17:01 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/016542-2024
- 27 Mar 2024 at 17:46 - Planning - Planning Notice - https://www.find-tender.service.gov.uk/Notice/010144-2024

## Notice URLs

- http://www.gov.uk/fcdo/
- https://fcdo.bravosolution.co.uk
- https://fcdo.bravosolution.co.uk/
- https://www.gov.uk/government/organisations/foreign-commonwealth-development-office

## 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-044dd7. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-044dd7.json.