Assets Valuation invitation to quote

Contract summary

Industry

• Real estate services - 70000000

Location of contract

East Midlands

Value of contract

£25,000

Procurement reference

HDC 217

Published date

12 June 2018

Closing date

8 December 2017

Contract start date

1 January 2018

Contract end date

31 December 2022

Contract type

Service contract

Procedure type

Other: Invitation to quote

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

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Description

Harborough District Council is procuring a suitable supplier to provide Portfolio Valuation services in respect of our General Fund Assets.
Local Government capital accounting requires the value of the Council's property assets to be properly shown in the Statement of Accounts. Valuations for inclusion in the local authority accounts must be provided in accordance with the relevant sections and standards contained within the current edition of the RICS Valuation - Professional Standards, incorporating the International Valuation Standards Global and UK editions (the Red Book). Valuations must also comply with the Chartered Institute of Public Finance and Accountancy (CIPFA) current edition of the Code of Practice on Local Authority Accounting in the United Kingdom. Valuations must be undertaken by suitably qualified and accredited valuers.
The Council is introducing a rolling valuation programme to encompass each asset within a 5 year period. A formal valuation will be required for each asset identified in the rolling programme, for the relevant year concerned. In addition, a desktop valuation exercise will be required, each year. This report would not comment on specific values, but rather comment on a sector basis, such as retail, office etc., to cover property types. With regards to the Depreciated Replacement Cost properties, the changes in build costs would be required. A "comfort" letter will also be required, dated 31 March, to confirm that no material factors have arisen since the 31 January valuation date that would cause a revision to the valuation advice provided in the 31 January valuation & desktop assessment reports.

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More information

Previous notice about this procurement

Assets Valuation invitation to quote

• Opportunity
• Published 9 November 2017

Additional text

To express an interest in this opportunity, please email:

commissioning@harborough.gov.uk

We will then send an invitation to register an interest via our e-tendering portal.

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Award information

Awarded date

28 February 2018

Contract start date

1 March 2018

Contract end date

27 February 2022

Total value of contract

£9,860

This contract was awarded to 1 supplier.

Wilks Head

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About the buyer

Contact name

Service manager, Commissioning

Address

Harborough District Council, Harborough District Council Offices, The Symington Building
Adam & Eve Street
Market Harborough
LE16 7AG
England

Email

commissioning@harborough.gov.uk