Speculative Notice – NATIONAL

1 Authority Details

1.1

Authority Name and Address

1.2

Address from which further information may be obtained

2 Contract Details

2.1

Title

Valuer services and Surveyor Services

2.2

Description of the goods or services required

Valuer Guidance

Overview

The Development Bank of Wales (“DBW”) provides a range of secured lending products that support the

funding needs of property developers and investors in Wales; e.g. to help purchase, enhance and develop

properties.

A key part of DBW’s due diligence for each deal is an independent, professional valuation of the properties

concerned. The related valuation report must comply with the prevailing RICS global standards and be

undertaken by a professional valuation firm that:

1. Comprises multiple partners/directors;

2. Holds the requisite qualifications and experience to comply with RICS standards in undertaking

the instruction;

3. Maintains a sufficient level of professional indemnity insurance that satisfies both the minimum

requirements of their professional body and DBW’s specific requirements in respect of any

individual deal; and

4. Satisfies DBW’s mandatory exclusion questions set out in the Supplier Questionnaire, as updated

from time to time

Feasibility and Monitoring Surveyor Guidance

Overview

The Development Bank of Wales (“DBW”) provides a range of secured lending products that support the

funding needs of property developers in Wales.

A key part of DBW’s initial due diligence for each deal is an independent, professional feasibility report

assessing the key elements of the development project; advising whether these are deemed realistic and

achievable. For deals that progress, DBW then requires ongoing, independent monitoring of the project

(typically via monthly interim reports) to certify on-site expenditure and confirm whether the project costs,

timescales, quality and compliance matters remain on track.

All related reports must comply with the prevailing industry standards and be undertaken by a

professional surveying firm that:

1. Comprises multiple partners/directors;

2. Holds the requisite qualifications and experience to undertake the instruction;

3. Maintains a sufficient level of professional indemnity insurance that satisfies both the minimum

requirements of their professional body and DBW’s specific requirements in respect of any

individual deal; and

4. Satisfies DBW’s mandatory exclusion questions set out in the Supplier Questionnaire, as updated

from time to time.

NOTE: To register your interest in this notice and obtain any additional information please visit the Sell2Wales Web Site at https://www.sell2wales.gov.wales/Search/Search_Switch.aspx?ID=147751.

2.3

Notice Coding and Classification

3 Administrative Information

3.1

Reference number attributed to the notice by the contracting authority

3.2

Estimated Start of the Award Procedure

4 Other Information

4.1

Additional Information

Suppliers to note this is an approved list. DBWs customers will be the final decisions maker on how is appointed to undertake the work.

Suppliers are the read the guidance documents and complete a SQ (attached and provide supporting evidence as requested and return to leanne.millard@developmentbank.wales.

An due diligence check will be undertaken to determine if the supplier is a suitable supplier.

DBW is a wholly owned subsidiary of the Welsh Government. Launched in 2017, DBW’s purpose is to mobilise economic development in the Welsh market. As a cornerstone of the Welsh Government’s organisation for delivery of financial instruments, DBW’s mission is to unlock potential in the economy of Wales by increasing the provision of sustainable, effective finance. Up to 31st March 2024, DBW has directly invested £778m into the Welsh economy and leveraged £531m from private sector investments. DBW has supported 3938 businesses, supported 41,700 jobs with a total impact of £1.66bn on the Welsh economy.

More information on the Development Bank of Wales can be found at:  https://developmentbank.wales/

For a comprehensive, up-to-date overview of the Development Bank of Wales, please read the Annual Report and Financial Statements for the 2019-20 financial year.

The Development Bank of Wales has offices in north, mid, south and south west Wales. With the growth in services available and funds under management, the Development Bank of Wales has substantially increased its staff headcount. It now employs 246 people across all of its offices with further headcount growth anticipated in the coming years.

(WA Ref:147751)

4.2

Download Additional Documentation

4.3

Publication date of this notice