Published date: 13 August 2024

Last edited date: 29 August 2024

Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.


Closing: 6 September 2024, 11:59pm

Contract summary

Industry

  • Property management services of real estate on a fee or contract basis - 70330000

Location of contract

SW7 2DD

Value of contract

£0 to £75,000

Procurement reference

IT-492-1409-SCM3466M

Published date

13 August 2024

Closing date

6 September 2024

Closing time

11:59pm

Contract start date

30 September 2024

Contract end date

31 March 2029

Contract type

Service contract

Procedure type

Open procedure (below threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements below the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

The Science Museum Group (SMG) is a group of five museums and one storage site:

Science Museum, London

National Railway Museum, York

National Science and Media Museum, Bradford

Science and Industry Museum, Manchester

Science and Innovation Park, Wroughton

Locomotion, Shildon

The five museums are a key national resource. With an unparalleled collection in the fields of science, technology, engineering, mathematics and medicine, SMG is uniquely placed to draw people of all ages to engage with science in an inspirational and informal way. It is the most significant group of science museums in the world, with over 7 million items in the collection, and received nearly 6 million visits a year.

SMG is a non-departmental public body (NDPB) operating within the public sector but at arm's length from its sponsoring department, the Department for Culture, Media and Sport (DCMS). The group is an exempt charity under Schedule 3 of the Charities Act 2011, with DCMS acting as its principal regulator for charity law purposes; it is recognised as charitable by HM Revenue & Customs.

SMG has one of the largest, most complex and iconic science-based estates in the world, spanning a total of almost 600 acres, with 83 buildings and a gross internal footprint of over 200,000 m2.

SMG produces an Annual Report & Accounts that follows the requirements of the Charities SORP and FRS 102. DCMS also issues accounts directions to SMG that require the accounts to 'have regard to the requirements of the Government Financial Reporting Manual' (the FReM). The SMG estate comprises a number of historic and specialised buildings. At the last valuation date of March 2023, the value of the combined estate was c. £450 million.

In December 2023, HM Treasury (HMT) published Non-investment asset valuation - exposure draft 23(01) which states that 'a periodic reset of valuations plus annual indexation represents the best balance between high-quality financial reporting and ease of implementation for accounts preparers.' HMT are proposing from 2025/26 to reduce the number of processes for the revaluation of assets, being for property assets (a) a quinquennial revaluation supplemented by annual indexation in intervening years or (b) a rolling programme of revaluations over a 5-year cycle, with annual indexation applied to assets during the four intervening years.

More information

Links

Additional text

You can view our tender documents and apply for the opportunity here: https://in-tendhost.co.uk/sciencemuseumgroup/aspx/Home

Is a Recurrent Procurement Type? : No

About the buyer

Contact name

Rahul Rajendran

Address

Exhibition Road
South Kensington
London
SW7 2DD
United Kingdom

Telephone

02079424171

Email

Rahul.Rajendran@ScienceMuseum.ac.uk

Website

https://www.sciencemuseumgroup.org.uk