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The job forms the core of the Bank\u2019s wider Location Strategy project and will see a major consolidation and refurbishment programme rolled out across the secure and heritage-sensitive site in a live working environment.<\/p>\n
Contractors are being lined up for a phased delivery approach covering everything from enabling works through to full infrastructure replacement and internal refurbishment across multiple building sections.<\/p>\n
Scope will flex as the job progresses, with the Bank retaining tight control over which work packages are instructed.<\/p>\n
Works will span:<\/p>\n
The contract is expected to run from November 2026 through to October 2030, with a possible one-year extension.<\/p>\n
The Bank has flagged significant delivery risk tied to the building\u2019s age, with parts of the estate not being renewed since 1942, meaning unknown conditions could emerge once works begin.<\/p>\n
Bidders face a rigorous three-stage competitive flexible procedure with five firms shortlisted after the initial stage, cut to three for negotiations before best and final offers are submitted.<\/p>\n
Evaluation will be weighted 30% on cost, with the remaining 70% focused on quality \u2014 heavily skewed towards managing construction in a live, secure heritage environment, alongside cost certainty, programme control and supply chain strength.<\/p>\n
The Bank has also left the door open to directly award follow-on works tied to the programme.<\/p>\n
Firms must first sign a non-disclosure agreement to access tender documents, reflecting the sensitive nature of the site.<\/p>\n
Deadline for submissions is 15 May, with a contract award expected in October.<\/p>\n
Click here for more details<\/a>.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n