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PROCUREMENT OPPORTUNITY

Provision of Heathrow Expansion Banking Advisor

Department for Transport · Tender notice on Find a Tender

Tender information last checkedLast checked 25 Sept 2026, 14:47.

Opportunity overview

The Department for Transport (DfT) is seeking to appoint an experienced Banking Adviser to provide independent financial and commercial advice in support of the Heathrow expansion programme. The Government's ambition is to enable the delivery of an operational third runway at Heathrow Airport by 2035 through a privately financed, market-led delivery model. As one of the UK's largest and most complex infrastructure programmes, Heathrow expansion presents significant financing, affordability, delivery and regulatory challenges. The successful Adviser will act as a sponsor-side adviser to DfT, providing independent advice on matters including: • The financeability and financial deliverability of Heathrow expansion; • Debt and equity market appetite and financing conditions; • Affordability, risk allocation and investor confidence; • Measures to improve financeability and reduce delivery risk; • Government exposure to programme costs and risks; • Delivery structures, governance arrangements and commercial models; and • Emerging financing, commercial and regulatory issues. The successful Adviser will also be required to deliver a strategic financeability assessment every six months throughout the contract term. The anticipated contract term is three (3) years with an option to extend for a further one (1) year. The estimated total contract value is approximately £3 million (excluding VAT). Suppliers wishing to participate in this procurement must register on the Jaggaer portal and access the procurement documentation through that system. Tender submissions, clarification questions and all procurement communications must be conducted via Jaggaer. 1. To enrol an account on DfTs Jaggaer platform (if your organisation does not already have one), please navigate to: https://dft.app.jaggaer.com/web/login.html 2. ITT Code =itt_3358 Once registered, please access the event using the below link: https://dft.app.jaggaer.com/go/8716167101A0D8503795 In addition, suppliers must ensure they have completed the relevant supplier registration requirements on the Central Digital Platform (CDP) in accordance with the Procurement Act 2023. Full details of the requirement, scope of services, procurement process, evaluation methodology, timetable and submission requirements are contained within the Invitation to Tender (ITT) documentation available through the Jaggaer portal. Interested suppliers are strongly encouraged to review the complete ITT pack and all associated appendices before preparing a Tender submission.

Classification

  • CPV66170000 — Financial consultancy, financial transaction processing and clearing-house services
  • CPV66171000 — Financial consultancy services
  • CPV71241000 — Feasibility study, advisory service, analysis

Lots

  • Lot 1£3m

Documents and notices

Published notice details

Additional information from the published procurement release. Fields appear only when supplied by the source; check the original notice and tender documents before acting.

Scope, procedure and submissions

Id
THEP3038
Status
active
Procurement Method
open
Procurement Method Details
Open procedure
Main Procurement Category
services
Above Threshold
Yes
How to submit
Suppliers wishing to participate in this procurement must register on the Jaggaer portal and access the procurement documentation through that system. Tender submissions, clarification questions and all procurement communications must be conducted via Jaggaer. 1. To enrol an account on DfTs Jaggaer platform (if your organisation does not already have one), please navigate to: https://dft.app.jaggaer.com/web/login.html 2. ITT Code =itt_3358 Once registered, please access the event using the below link: https://dft.app.jaggaer.com/go/8716167101A0D8503795
Published risks
The successful delivery of the Contract is dependent upon the provision of high-quality, timely and independent financial and commercial advice in relation to Heathrow expansion. Key risks include the availability and retention of suitably qualified advisers, conflicts of interest arising from work undertaken elsewhere in the aviation or infrastructure sectors, failure to meet critical programme timescales, and an inability to respond to emerging financing, regulatory or market developments. Suppliers will be required to demonstrate appropriate risk management, governance and business continuity arrangements to ensure consistent service delivery throughout the Contract term.

Legal basis

Id
2023/54
Scheme
UKPGA

Submission terms

Electronic Submission Policy
allowed

Languages

en

Tender Period

Ends
23 Oct 2026, 17:00

Enquiry period

Ends
13 Oct 2026, 12:00

Expected award period

Ends
2 Dec 2026, 23:59

Contract terms

Financial Terms
Payment will be made in accordance with the Contract following satisfactory delivery and acceptance of the relevant services by the Authority. The Contract includes fixed fees for six-monthly strategic financeability assessments and a monthly retainer fee. Additional services may be commissioned through separately approved Statements of Work. Valid and undisputed invoices will be paid in accordance with the Authority's standard payment terms set out in the Contract.

Lots and requirements

Entry 1
Id
1
Status
active
Has Renewal
Yes
Has Options
Yes

Value

Including VAT
3,600,000
Amount
3,000,000
Currency
GBP

Award criteria

Criteria

Criterion 1
Type
quality
Name
Stage 1 - Technical and Social Value
Description
Tenderers will be evaluated on their relevant experience, technical capability, understanding of the financial and commercial challenges associated with Heathrow expansion, proposed delivery approach, team structure and governance arrangements, approach to pricing future Statements of Work, and ability to deliver wider economic and social value. Responses will be assessed against the criteria and weightings set out in the Invitation to Tender. Following completion of the Stage 1 evaluation, Tenderers will be ranked in order of their Total Quality Score. Up to the three highest-scoring Tenderers will be invited to participate in Stage 2 (Presentation and Interview). Stage 1 evaluates: (i) relevant infrastructure finance and financial advisory experience; (ii) understanding of financeability, affordability and investor considerations associated with Heathrow expansion; (iii) proposed delivery model, governance and key personnel; (iv) approach to pricing and managing future Statements of Work; and (v) delivery of wider economic and social value. Stage 1 carries a weighting of 70% of the overall evaluation score. The highest-ranked Tenderers will progress to a presentation and interview stage.

Numbers

Entry 1
Number
70
Weight
percentageExact
Criterion 2
Type
quality
Name
Stage 2
Description
Stage 2 – Presentation and Interview (10%) Up to the three highest-scoring Tenderers from Stage 1 will be invited to participate in a presentation and interview assessment. Tenderers will be required to respond to a scenario-based exercise designed to assess their ability to mobilise quickly, identify and prioritise key financing and commercial issues, apply sound financial and commercial judgement, and provide clear, evidence-based advice to senior Government stakeholders. The evaluation will consider: • The proposed team's ability to mobilise and respond at short notice. • The identification and prioritisation of key financeability, affordability and delivery risks. • The proposed approach to analysis, stakeholder engagement and evidence gathering. • The quality, clarity and practicality of advice provided to senior decision-makers. • The effectiveness of the proposed team in responding to challenge and demonstrating relevant expertise. Stage 2 carries a weighting of 10% of the overall evaluation score and will be combined with the Stage 1 Quality Score and Commercial Score to determine the final Tender ranking.

Numbers

Entry 1
Number
10
Weight
percentageExact
Criterion 3
Type
price
Name
Commercail Evaluation
Description
Commercial Evaluation (20%) The Commercial Evaluation carries a weighting of 20% of the overall evaluation score. Tenderers are required to submit a completed Attachment 1 – Pricing Schedule. The Commercial Evaluation will assess the Total Evaluated Price, comprising: • The total cost of six six-monthly strategic financeability assessments; and • The total monthly retainer fee over the 36-month contract term. Pricing will be evaluated using a relative percentage scoring methodology, whereby the lowest priced compliant Tender will receive the maximum available score and other Tenderers will receive a proportionate score relative to the lowest priced submission. Additional Statements of Work are not included within the evaluated price and will be commissioned separately during the Contract term, where required, in accordance with the Contract provisions.

Numbers

Entry 1
Number
20
Weight
percentageExact

Selection criteria

Criteria

Criterion 1
Type
economic
Description
Participation is subject to the conditions set out in the procurement documents, including economic and financial standing requirements, minimum insurance requirements, conflicts of interest requirements and compliance with the Procurement Act 2023 exclusion grounds regime. Full details are contained within Appendix 4 – Procurement Specific Questionnaire (PSQ).
Criterion 2
Type
technical
Description
Tenderers must demonstrate relevant experience and capability in infrastructure finance, capital markets, debt and equity advisory services, financeability assessments, regulated infrastructure financing models and the delivery of advisory services to Government or comparable clients. Full details are set out in the procurement documents.

Suitability

Sme
Yes

Contract period

Starts
4 Jan 2027, 00:00
Ends
4 Jan 2030, 23:59
Max Extent Date
3 Jan 2031, 23:59

Renewal

Description
This contract contains a +1-year extension provision.

Options

Description
The Contract includes a provision for the commissioning of additional services through Statements of Work (SoWs), enabling the Authority to procure supplementary requirements as programme priorities, emerging issues and key decision points arise.

Items and delivery

Item 1
Id
1
Related Lot
1

Additional Classifications

Entry 1
Scheme
CPV
Id
66171000
Description
Financial consultancy services
Entry 2
Scheme
CPV
Id
66170000
Description
Financial consultancy, financial transaction processing and clearing-house services
Entry 3
Scheme
CPV
Id
71241000
Description
Feasibility study, advisory service, analysis

Delivery locations

Entry 1
Region
UK
Country
GB
Country Name
United Kingdom

Published documents

Entry 1
Id
conflictOfInterest
Document Type
conflictOfInterest
Description
Not published
Entry 2
Id
090985-2026
Document Type
tenderNotice
Notice Type
UK4
Description
Tender notice on Find a Tender
Published
25 Sept 2026, 13:07
Format
text/html

Planning and budget

No Engagement Notice Rationale
The Authority has elected not to publish a Preliminary Market Engagement Notice prior to commencing this procurement. The Authority is satisfied that it has sufficient understanding of the requirement, the likely supplier market, available delivery models and procurement strategy to proceed directly to competition. The requirement relates to specialist banking and financial advisory services, and the Authority has drawn upon internal expertise, existing market knowledge and previous experience of procuring similar professional services. Accordingly, the Authority does not consider that formal preliminary market engagement is necessary or proportionate for this procurement.

Buyer, suppliers and contacts

Organisation 1
Name
Department for Transport
Id
GB-PPON-PLTC-5358-LTWZ

Identifier

Scheme
GB-PPON
Id
PLTC-5358-LTWZ

Address

Street Address
Great Minster House, 33 Horseferry Road
Locality
London
Postal Code
SW1P 4DR
Country
GB
Country Name
United Kingdom
Region
UKI32

Contact

Roles

buyer

Details

Classifications

Entry 1
Scheme
UK_CA_TYPE
Id
publicAuthorityCentralGovernment
Description
Public authority - central government

Recorded locations

  • Buyer location · London · UKI32 · SW1P 4DR · United Kingdom
  • Delivery location · UK · United Kingdom

Notice and amendment history

1 published notice version reviewed by ProcuraAxis.

1 VERSION
  1. 090985-2026Tender notice on Find a Tender ·