Official UK procurement notice
Valuation of Assets · UK public procurement notice
Authority: Isle of Wight NHS Trust (Central government)
What is being bought
Published requirement descriptionProvision 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.
CPV: Accounting and auditing services · Real estate services
How this framework works
From the published notice- Bids received
- 1 bids received · 1 suppliers appointed
- Framework period
- 5 yrs from 1 Jan 2023, 3+2 years
The lotProcurement structure
single lot · no lot value publishedLot #1Valuation of AssetsAwarded
(original requirement) 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.
(Modification)The statutory statement of accounts, requires a significant annual piece of work in providing valuations of land and building assets the council holds, on a rolling 5 year basis. As part of the government reset of auditing requirements, an additional piece of work is required during January to March 2027 to complete the same work for an additional sample of assets.
Procedure terms & legal framework
From the official record · publisher note attached- Procedure method
- Award procedure without prior publication of a call for competition
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Services
- Notice status
- Awarded without competition
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Framework agreement
- Who may use this agreement
- Not stated in the notice; call-off rights may be limited to the establishing authority
- Competition type
- Direct award (no call for competition)
- GPA / WTO covered
- Yes (GPA)
- Recurring procurement
- Unspecified in notice
- First published
- 24 Nov 2022, 14:14 GMT
- Last source update
- 14 Sept 2026, 16:11 BST
- Authority reference
DN635334- FTS notice number
2026/S 000-087021- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-038813Find a Tender
- Why no open competition
- The procurement falls outside the scope of application of the directive
- Published justification
A further competition process had been carried out under ESPO Framework 2700_22 Estates Management Professional Services.
Publisher note: VII.2.6. value is whole life cost.
How it was run
Official notice- Appointment period ends
- —
Timeline
1 Jan 2023 → 14 Sept 2026 · 2 dates- Contract starts1 Jan 2023
- Notice published42 days ago14 Sept 2026, 16:11 BST
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast2 suppliers are admitted to this framework without individual award values or dates, see the supplier list below.
Contracts
Contract 033378-2022-1
- Signed
- 24 Nov 2022
- Value
- £135,000
- Period
- … – 31 Dec 2027
- Status
- active
Contract 087021-2026-1-1
- Signed
- 24 Nov 2022
- Value
- £279,000
- Period
- 1 Jan 2023 – 31 Dec 2027
- Status
- active
- Change The statutory statement of accounts, requires a significant annual piece of work in providing valuations of land and building assets the council holds, on a rolling 5 year basis. As part of the government reset of auditing requirements, an additional piece of work is required during January to March 2027 to complete the same work for an additional sample of assets. This is an additional value of £45,000 which is a 20% increase. Government are enforcing an external audit build back requirement, which for the Isle of Wight requires a larger cohort of assets to valued during the 2026/27 financial year., Need for additional works, services or supplies by the original contractor/concessionaire: The whole life cost for this contract is £225,000 (£270,000 inc VAT). The additional value is a further £45,000 which is a 20% increase and can rely on PCR2015 Reg72 (1) (b) for additional services which were not included in the initial procurement, where a change of contractor— (i)cannot be made for economic or technical reasons such as requirements of interchangeability or interoperability with existing equipment, services or installations procured under the initial procurement, (ii)would cause significant inconvenience or substantial duplication of costs for the contracting authority, provided that any increase in price does not exceed 50% of the value of the original contract; But also Reg72 (e) where the modifications are not substantial within the meaning of paragraph (8) which I believe also applies. The provider already has extensive knowledge of our asset cohort, and will already be doing the same work for a separate sample of assets during the period.
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 1bids · 1 electronic | 0 | — | — |
Contracting authority & participating public bodies
Dispute resolution & review bodies
- The High CourtReview body
- The High Court of England and WalesReview body
Framework contractors & participating bidders
2 commercial parties on the notice- Wilks Head & Eve LLPFramework contractor
- Wilks Head & Eve LLPFramework contractor
Official documents & specifications
Official links; attachments are not copiedNo document links were published on the notice.