Published date: 17 July 2023
Awarded contract - This means that the contract has been awarded to a supplier.
Contract summary
Industry
Financial and insurance services - 66000000
Real estate services - 70000000
Institution management services - 70331100
Non-residential property services - 70332000
Land management services - 70332100
Commercial property management services - 70332200
Building and facilities management services - 79993000
Location of contract
Any region
Value of contract
£3,319,000
Procurement reference
tender_340135/1235839
Published date
17 July 2023
Closing date
22 March 2023
Closing time
12pm
Contract start date
15 June 2023
Contract end date
14 June 2028
Contract type
Service contract
Procedure type
Open procedure (above threshold)
Any interested supplier may submit a tender in response to an opportunity notice.
This procedure can be used for procurements above the relevant contract value threshold.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
No
Description
The Foreign, Commonwealth and Development Office (FCDO) is awarding 3 contracts following a multi-lot procurement for the provision of Global Estate Asset Valuation Services in order to meet financial reporting requirements (IRFS). This Procurement Process is being run in accordance with the Open Procedure under Regulation 27 of the Public Contracts Regulation 2015.
Services are divided into three Lots, whereby each lot relates to a specific geographical region.
Lot 1 - Africa (£780,000). This Lot was awarded to Knight Frank LLP on 15th June 2023.
Lot 2 - Asia Pacifica, South Asia and Afghanistan (£1,359,000). This Lot was awarded to Colliers International Property Consultants Limited on 4th July 2023.
Lot 3- Americas (£1,180,000). This Lot was awarded to Knight Frank LLP on 15th June 2023.
Each contract will be for an initial 5 year period with an option to extend for up to a further 2 years.
The contract term for each lot will be as follows:
Lot 1: 15th June 2023 - 14th June 2028 with the option to extend for up to 2 more years.
Lot 2: 7th July 2023 - 6th July 2028 with the option to extend for up to 2 more years.
Lot 3: 15th June 2023 - 14th June 2028 with the option to extend for up to 2 more years.
The FCDO has estate property around the world (including the United Kingdom) and operates in over 280 different locations. The estate comprises Embassies & High Commissions (anything from a stand-alone, freehold building on a secure compound, to a fitted-out leased office in a multi-occupied, high-rise building), visa offices, Residences for Heads of Post and residential buildings for diplomats. Additionally there are individual "legacy" properties such as churches, cemeteries, etc.
The FCDO has a financial reporting requirement (IFRS), supported by HM Treasury Government Financial Reporting Manual, to revalue Estate's assets to ensure they are well managed, correctly recorded and accurately valued in the annual accounts.
The Estates, Security and Network Directorate (ESND) of the FCDO, on behalf of the Secretary of State for Foreign, Commonwealth and Development Affairs, requires valuations, inspection and rent ceiling assessments of the FCDO Estate and other Government departments, if required.
The scope of this procurement includes valuation and inspection services of the FCDO Estate. The Successful Supplier will also be required to provide impairment valuations, rent ceiling assessments and ad-hoc consultancy services where requested.
More information
Previous notice about this procurement
ITT for Provision of Global Estate Asset Valuation Services for FCDO
- Opportunity
- Published 10 February 2023
Links
Additional text
-
The requirement was procured via the Foreign, Commonwealth and Development Office's e-procurement portal: https://fcdo.bravosolution.co.uk.
Award information
Awarded date
15 June 2023
Contract start date
15 June 2023
Contract end date
14 June 2028
Total value of contract
£3,319,000
This contract was awarded to 2 suppliers.
Knight Frank LLP
Address
55 Baker Street, London, W1U 8AN
Reference
Companies House number: OC305934
Supplier is SME?
No
Supplier is VCSE?
No
Additional details
-
Knight Frank LLP were awarded contracts for Lot 1 & Lot 3
Colliers International Property Consultants Ltd
Address
95 Wigmore Street, London, W1U 1FF
Reference
Companies House number: 07996509
Supplier is SME?
No
Supplier is VCSE?
No
Additional details
-
Colliers International were awarded Lot 2
About the buyer
Address
King Charles Street
London
SW1A 2AH
England
Website
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Closing: 22 March 2023, 12pm
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