Lancashire County Council has gone out to market to procure the valuation services for the UK property portfolio of the Lancashire County Pension Fund over the next 10 years.
The incumbent service provider is Cushman & Wakefield. The 10-year contract will be worth an estimated £1.8m in fees over the period to the chosen supplier.
The supplier would also be expected to work for the London Pensions Fund Authority, with which Lancashire has a partnership arrangement.
Lancashire’s property portfolio was valued at £531m on 31 March 2015, out of the total fund value of £5.8bn.
Companies wishing to bid for the contract have until 27 September to register their interest.