Location Strategy Main Works
Estimated value
£120.0m
Awarded value
—
Suppliers
0
Lots
1
Published
22 May 2025
This is a preliminary market engagement notice
Map the supplier landscape and document your shortlist before opening the tender. The market simulation produces a defensible audit record you can attach to your procurement file.
Description
Refurbishment works at the Bank's Threadneedle Street
Scope
- Reference
- PROC/473
- Total value
- £120,000,000 excluding VAT£150,000,000 including VAT
- Commercial tool
- Standalone contract
- Contract dates
- 30 Sept 2026 to 31 Dec 2029
The initial contract term is for 4 years with an option to extend at the Bank's discretion (and in one or more extension periods) up to a further 12 months.
- Main category
- works
- CPV classifications
- 45453000
- Contract locations
- London, United Kingdom
Award criteria
Criteria the buyer will use to evaluate bids.
| Name | Description | Type | Weighting |
|---|---|---|---|
| Construction Strategy in a Live, Secure, Heritage Environment | — | quality | 15.00% |
| Adaptive Reuse, Heritage and Sustainability in Construction | — | quality | 8.00% |
| Commercial Control, Cost Certainty and Value | — | quality | 15.00% |
| Design Management and Delivery Interfaces | — | quality | 5.00% |
| Programme, Risk & Governance | — | quality | 7.00% |
| Project Team and Supply Chain | — | quality | 15.00% |
| Social Value | — | quality | 5.00% |
| Commercial | The nature of the contract (Pre-construction services and construction works) result in a combination of Cost and Price components. | cost | 30.00% |
Participation
Conditions suppliers must meet to bid.
In summary, the conditions of participation addresses the following and are being assessed on a Pass/Fail basis; Core Supplier Information Associated Persons Debarment (including proposed key sub-consultants) Financial Capacity Insurance Requirements Subcontractor Information (proposed and experience of management) Health & Safety Payment in Contracts Prompt Payment Terms Prompt Payments Professional Memberships / Accreditation Modern Slavery Carbon Reduction Plan Quality Assurance Equality & Diversity Business Continuity ESG Bribery Act 2010 The conditions of participation also addresses the following and are being assessed on a scored basis; Relevant experience and contract examples Organisational standards The questions and the assessment criteria are set out in the Procurement Specific Questionnaire provided as part of the associated tender documents.