Published date: 2 January 2018
Awarded contract - This means that the contract has been awarded to a supplier.
Contract summary
Industry
Building services - 71315000
Location of contract
Any region
Value of contract
£0 to £60,000
Procurement reference
UK SBS FM17171
Published date
2 January 2018
Closing date
28 November 2017
Contract start date
18 December 2017
Contract end date
30 March 2018
Contract type
Service contract
Procedure type
Call-off from a framework agreement
A mini-competition or direct purchase from a pre-established framework agreement.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
No
Description
The Science & Technology Facilities Council (STFC) requires Independent professional revaluations for all property, plant and equipment (PPE) every five years and are revised in the intervening years by the use of appropriate indices. PPE are professionally revalued on different cycles. Land and buildings at some of the STFC sites are due to be professionally re-valued.
Following the implementation of IFRS13, HM Treasury has adapted IAS 16 Property, Plant and Equipment. This requires that assets in use, which are held for their service potential (operational assets), should be measured at their current value in existing use. For non-specialised assets, current value in existing use should be interpreted as market value in existing use, which is taken to be existing use value (EUV). For specialised assets current value in existing use should be interpreted as depreciated replacement cost (DRC).
Assets are depreciated on a straight line basis over their estimated useful lives. The estimated life for freehold buildings is 60 years and for leasehold properties 60 years or the terms of the lease. Land is not depreciated.
2. Scope of the Work
Valuations
a. The service required is as follows:
i. To provide valuations for the Council's land and building assets located at the Rutherford Appleton Laboratory (RAL), Didcot, Oxfordshire.
ii. To provide bespoke revaluation indices for the Council's land and building assets located at Daresbury Laboratory (DL), Warrington.
iii. To provide valuations for the land and building assets of STFC's Joint Venture company Diamond Light Source Limited (DLSL). DLSL is located on the RAL site in Didcot.
iv. To provide remaining useful lives for the revalued assets.
b. The valuations are to be as at 31st January 2018.
c. All valuations are to be carried out in accordance with the current practice and guidance notes of the Royal Institute of Chartered Surveyors (RICS).
This requirement was advertised via a Mini Competition undertaken on the CCS RM3816 Estates Professional Services Framework Lot 1
Award information
Awarded date
7 December 2017
Contract start date
18 December 2017
Contract end date
30 March 2018
Total value of contract
£60,000
This contract was awarded to 1 supplier.
GVA Grimley Limited
Address
3 Brindleyplace
Birmingham
B1 2JBReference
None
Supplier is SME?
No
Supplier is VCSE?
No
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Closing: 28 November 2017
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