BE23164 Revaluation of UKRI STFC's Land and Building Assets

***** THIS IS AN AWARD NOTICE, NOT A CALL FOR COMPETITION ***** This procurement is being concluded following a mini competition under Crown Commercial Services Framework - Estates Professional Services - RM6168 - Lot 5

Independent professional revaluations obtained for all property, plant and equipment (PPE)

The service required is as follows:

a)

i. To revalue the whole of UKRI's estate over the course of the revaluation cycle (5 years).

ii. To provide valuations for the UKRI's land and building assets located at the various sites

iii. To provide remaining useful lives for the assets.

b) The valuations are to be as at 31st March each year.

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).

d) A full list of assets to be valued and site plans will be provided when the tender has been agreed between parties. Notwithstanding this list valuation should include all infrastructure assets for each site unless specifically excluded by the UKRI. Examples of items to be included in the valuation are playing fields, roads, external lighting and isolated substations.

e) Where the valuations are materially different from current valuations further explanation and evidence to support this may be required.

f) If an item of property comprises two or more significant components, with substantially different useful lives, then each component must be valued separately.

g) Plant and machinery, which forms an integral part of the building, is to be included in the valuation. The Council can provide details of non-building assets. The successful supplier is to provide a list of mechanical, electrical services, plant and other items included in the valuation as part of the work.

h) Provisional additional budget of £50k (ex VAT) should additional requirements arise during 5-year contract period. This is subject to an acceptable quotation.

i.) The successful supplier may be required to explain their methodology and costing calculations to the National Audit Office on a very timely basis and must make themselves available to do so. It is expected this may be required up to the end of June within each Contract Year.