Source: https://tendernation.io/opportunities/01a13bec-e831-7208-9034-3fbd05859bad/quinquennial-revaluation-of-operational-land-and-buildings awarded GB restricted procedure Suitable for SMEs # Quinquennial Revaluation of operational land and buildings [Department for Environment, Food & Rural Affairs](https://tendernation.io/buyers/department-for-environment-food-rural-affairs) Estimated value £43,800 Published 18 Nov 2016 Deadline Closed 9 Oct 2015 ## Who can bid - Buyer says suitable for SMEs The buyer ticked “suitable for SMEs” on the notice. Anyone can still bid. - Buyer says suitable for VCSEs The buyer ticked “suitable for voluntary, community and social enterprises” on the notice. - Small contract value Valued under £135,018 including VAT, the lowest Procurement Act threshold for goods and services. [More contracts for small businesses and VCSEs](https://tendernation.io/opportunities/for-small-businesses) ## About this tender Defra procuring on behalf of Natural England: The Authority intends to select a supplier to carry out a three-part quinquenial revaluation of Operational land and buildings within the Defra estate, along with Non-Operational & Operational Heritage Assets. The breakdown of the work required by the Authority is as follows: - The Quinquennial revaluation of operational land and buildings – Part 1 1.1 All freehold land and buildings within the Authority’s Statement of Financial Position (except heritage assets which fall under different accounting guidance – see below) are stated at a fair value in line with Accounting guidance (International Accounting Standard – IAS 16). They have to be revalued every five years by professionally qualified valuers, on a current use basis in accordance with the Royal Institution of Chartered Surveyors’ Appraisal and Valuation Manual (the Red Book – IVA 1). 1.2 In between professional revaluations, values are updated annually using indices from the Property Market Report issued by the Rural Institute of Chartered Surveyors (RICS) 1.3 The Authority’s last revaluation exercise was carried out at 31st March 2011, and hence is due to be undertaken again as at 31st March 2016. - The valuation of Non Operational & Operation Heritage Assets – Part 2 & 3 2.1 Financial Reporting Standard 30 – Heritage Assets requires our National Nature Reserve (NNR) land and buildings and related assets to be shown at Fair Value in our Statement of Financial. 2.2 The NNRs comprise two types of assets, Non-Operational and Operational. The latter can be sub-divided into Operational Heritage Assets and Operational Support Assets. Operational Heritage assets are those assets that, in addition to being held for their characteristics as part of the nation’s heritage, are also used by Natural England to provide activities and services. The Operational support assets will be those assets that are identified through the course of adopting the new accounting requirements Additional information: Please note that Defra procurement uses e-tendering, provided by Bravosolutions. In order to access the Bravo system you will need to be registered. Could I therefore request that you register on the Bravo portal for Defra. If you’re already registered on the Bravo portal please check that your registration includes Defra, as you have to specify us in order to correctly receive the tender documents. If you have any problems with the registration process, please contact the Bravo helpline on 0800 368 4850 or alternatively email them at . The link you require for new registration/amendments to registrations is - [defra.bravosolution.co.uk](https://defra.bravosolution.co.uk) Read full description ## CPV classification Building services Source Contracts Finder (UK) [View official notice](https://www.contractsfinder.service.gov.uk/notice/04104c8e-adc9-11e6-9901-0019b9f3037b) Never miss a tender like this again Get AI summaries, deadline alerts and a bid pipeline for tenders matched to your business. Free to start. 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