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Official procurement procedure

Valuation of Assets

Accounting and auditing services
Real estate services
South East (UKJ34)
Published value
Not published
Submission deadline Not published
Lots published1
Procurement Executive Summary
AI & Search Synopsis
Generated from official OCDS record
Tenderline Synopsis: Isle of Wight Council: "Valuation of Assets". Published status: complete. Published value: Value not published. 1 published lot. Submission deadline not published. See the official notice for participation instructions.
Contracting AuthorityIsle of Wight CouncilScope & CategoriesNot publishedSubmission Window
complete
No deadline published
Submission GatewayDirect notice routeLegal Basis & RegimeStandard procurementEstimated Value (exc. VAT)Not published
Bidder Intelligence · Authority Profile: Isle of Wight Council
Market Analytics
View Authority Profile →
Derived from OCDS awards & bid statistics
Published history for Isle of Wight Council. These figures describe retained records, not a forecast of bids or a measure of buyer bias.
Published-to-award variance
Not availableInsufficient comparable data
Requires at least 5 comparable procedures
Competition Density
3.1Bids / Report
45.6% of reports have one bid
Supplier ConcentrationNo estimate
Insufficient attributable awardsNo concentration estimate available
Payment Terms
Check noticePublished terms
Payment obligations depend on the applicable regime and contract. Consult the official documents.
Coverage: 106 active published awards; 90 bid reports (which may be per lot). Supplier values exclude multi-supplier awards, frameworks and DPS, and use GBP only. They are published award values, not payments. Published-to-award variance compares single-lot, single-award, single-supplier GBP procedures with explicitly non-framework/non-DPS status; increases remain in the average. Unpublished data stays unknown. Awarded suppliers are winners, not all bidders.
Procedure terms
Contracting AuthorityIsle of Wight Council
Procedure methodNot published
Procurement categoryNot published
Statuscomplete
Framework / DPSNot published
CompetitionNot published
Above thresholdNot published
Legal basisNot published
Tender period startsNot published
Clarification deadlineNot published
Electronic submissionNot published
Submission languagesNot published
Published24 Nov 2022, 14:14 GMT
Last source update24 Nov 2022, 14:14 GMT
Recurring procurementNot published
ClassificationAccounting and auditing services, Real estate services
Delivery area
South East (UKJ34)
OCIDocds-h6vhtk-038813
What is being bought
Provision of a specialist practice to undertake a valuation of its assets in order to comply with CIPFA Code of Practice on Local Authority Accounting, RICS Valuation Professional Standards and the International Valuation Standards and International Standards on Auditing.
What changed
From the official release history
  1. Status changed to complete
    24 Nov 2022, 14:14 GMT
  2. Official notice release published
    24 Nov 2022, 14:14 GMT
  3. Buyer information updated
    24 Nov 2022, 14:14 GMT
Lots and requirements (1)
Published by the contracting authority
  • Lot 1 · #1
    Individual lot title not published
    cancelled
    Published valueNot published
    The Authority requires its assets valued in order to comply with • CIPFA Code of Practice on Local Authority Accounting insofar as it relates to valuations for the balance sheet and related disclosures including bases of value, valuation frequency, componentisation, lease classification, impairment etc., and associated practical approaches, including the key changes arising from IFRS16 • RICS Valuation Professional Standards and the International Valuation Standards insofar as they relate to local authority asset valuations, together with the associated practical approaches. • International Standards on Auditing as adapted for the UK and gain practical tips for a smoother audit process Further competition carried out under ESPO Framework 2700_22. Additional information: The value at II.1.7 refers to the initial term value. If both extensions are utilised then the whole life cost would be in the region of £225,000. IV.1.1 refers to a further competition process under ESPO Framework 2700_22.
    Contract periodNot published
    EligibilityNot published
    Options / renewalNot published
Timeline
  1. Procedure published
    24 Nov 2022, 14:14 GMT
  2. Award active
    Not published · Not published
  3. Contract active
    Signed 24 Nov 2022, 00:00 GMT · £135,000
Commercial outcome and competition
Awards
Wilks Head & Eve LLP
Not published · Not published · active
Contracts
Contract
£135,000 · signed 24 Nov 2022, 00:00 GMT · active
Bid statistics
bids: 1 (lot 1)
electronicBids: 1 (lot 1)
foreignBidsFromEU: 0 (lot 1)
foreignBidsFromNonEU: 0 (lot 1)
smeBids: 0 (lot 1)
Buyer and organisations in this procedure

Isle of Wight Council

Contracting authority GB-FTS-67
View buyer profile

  • Isle of Wight Council
    buyer

    County Hall, High Street, Newport, UKJ34, PO30 1UD
    lucy.chandler@iow.gov.uk
    +44 1983821000

  • The High Court
    reviewBody

    London

  • Wilks Head & Eve LLP
    supplier

    3rd Floor, 55 New Oxford Street, London, UKJ34, WC1A1BS
Documents (0)
Official links; attachments are not copied
No data
No linked documents are published
Related procedures (0)
No data
No related procedures published
Planning and rationale
Planning budgetNot published
No-engagement rationaleNot published
Procedure rationaleA further competition process had been carried out under ESPO Framework 2700_22 Estates Management Professional Services.