Published date: 20 February 2025

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 24 June 2024, 5pm

Contract summary

Industry

  • Real estate services - 70000000

Location of contract

Any region

Value of contract

£1,529,668

Procurement reference

tender_429963/1454520

Published date

20 February 2025

Closing date

24 June 2024

Closing time

5pm

Contract start date

1 November 2024

Contract end date

31 October 2026

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 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).

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 (Planon) 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 Planon that arise from reconciliations within the accounting system - the reconciliation work will be undertaken by the FCDO Finance Team.

More information

Previous notice about this procurement

IFRS 16 Lease Management Hub

  • Opportunity
  • Published 24 May 2024

Attachments

Award information

Awarded date

29 October 2024

Contract start date

1 November 2024

Contract end date

31 October 2026

Total value of contract

£1,529,668

This contract was awarded to 1 supplier.

Deloitte LLP

Address

1 New Street Square, London, EC4A 3HQ

Reference

Companies House number: OC303675

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

King Charles Street, Westminster
London
SW1A 2AH
England

Email

commercial.corporate@fcdo.gov.uk