Provision of Global Estate Asset Valuation Services - Middle East and North Africa

Descriptions

The FCDO is the government department responsible for promoting British interests overseas and supporting our citizens and businesses around the globe. The Foreign, Commonwealth and Development Office (FCDO) has estate property around the world (including the United Kingdom) and operates in over 280 different locations. The estate comprises of Embassies & High Commissions (anything from stand-alone, freehold building on secure compound, to a fitted-out leased office in a multi-occupied, high-rise building), visa offices, Residences for Heads of Post, and residential buildings for diplomats. Additionally, there are individual 'legacy' properties such as churches, cemeteries, etc. The FCDO has a financial reporting requirement (IFRS), supported by HM Treasury Government Financial Reporting Manual, to revalue the Estate's assets to ensure they are well managed, correctly recorded and accurately valued in the annual accounts. Thus, the Estates, Security and Network Directorate (ESND) of the FCDO, on behalf of the Secretary of State for Foreign, Commonwealth and Development Affairs, requires valuations, inspections and rent ceiling assessments of the FCDO Estate and other Government departments, if required. The purpose of the Global Estate Valuation Services - MENAD contract is to provide valuations, inspections and rent ceiling assessments of the FCDO estate within the Middle East and North Africa (MENAD) region. FCDO wish to understand capacity and interest to deliver Global Estate Valuation Services - MENAD. This notice is being published to advertise a forthcoming procurement opportunity. The procurement is planned to commence in the coming months, with an anticipated award date of June 2024 (subject to change). The anticipated start date for the provision of services is 1st July 2024. It is anticipated that the contract will run for 5 years with the option to extend by up to a further 2 years. The estimated Contract Value is £559,900. Note: the value stated is an estimate at this stage and will be finalized and confirmed within the Contract Notice. The contract terms will be FCDO Standard Terms and Conditions. The requirement will be procured via the Foreign, Commonwealth and Development Office's e-procurement portal: Foreign Commonwealth & Development Office eSourcing Portal (bravosolution.co.uk).