Official UK procurement notice
Provision of Heathrow Expansion Banking Advisor
Authority: Department for Transport (Central government)
What is being bought
Published requirement descriptionThe 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.
- To enrol an account on DfTs Jaggaer platform (if your organisation does not already have one), please navigate to: dft.app.jaggaer.com/web/login.html ↗
- ITT Code =itt_3358 Once registered, please access the event using the below link:
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.
- No preliminary market engagement: 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.
CPV: Feasibility study, advisory service, analysis · Financial consultancy services · Financial consultancy, financial transaction processing and clearing-house services
The lotProcurement structure
single lot · value publishedLot #1RenewalPublished value£3,000,000
- Economic & financial standing
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).
- Technical & professional ability
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.
What it takes to wini
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Evaluation split and conditions of participation as published; the tender pack may add morei
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Published sub-criteria (3)
- Stage 1 - Technical and Social Value: 70%
- Stage 2: 10%
- Commercail Evaluation: 20%
Published award criteria (3)
- Stage 1 - Technical and Social Value: 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.
- Stage 2: 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.
- Commercail Evaluation: 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.
- Economic & financial standing
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).
- Technical & professional ability
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.
- Price carries 20 of 100 points: a 10% discount moves about 2 points. The method statement decides this lot, not the discount.
Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.
Procedure terms & legal framework
From the official record- Procedure method
- Open procedure
- Legal basis
- UKPGA · 2023/54 Procurement Act 2023
- Procurement category
- Services
- Notice status
- Closed
- Procurement threshold
- Above threshold (FTS publication)
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Unspecified in notice
- Recurring procurement
- Unspecified in notice
- First published
- 25 Sept 2026, 13:07 BST
- Last source update
- 25 Sept 2026, 13:07 BST
- Award evaluation window
- Submission end – 2 Dec 2026
- Authority reference
THEP3038- FTS notice number
2026/S 000-090985- Latest notice
- Tender notice (UK4)
- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-077a87Find a Tender- Contract terms summary
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.
- 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.
How it was run
Official notice- Submission deadline
- 23 Oct 2026, 17:00 BST
- Clarification deadline
- 13 Oct 2026, 12:00 BST
- Submission channel
- Official e-sourcing portal
- Electronic submission
- Allowed
- Accepted languages
- en
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.
- To enrol an account on DfTs Jaggaer platform (if your organisation does not already have one), please navigate to: dft.app.jaggaer.com/web/login.html ↗
- ITT Code =itt_3358 Once registered, please access the event using the below link:
Timeline
25 Sept 2026 → 4 Jan 2027 · 5 dates- Tender notice published32 days ago25 Sept 2026, 13:07 BST
- Clarification questions by15 days ago13 Oct 2026, 12:00 BST
- Submission deadline4 days ago23 Oct 2026, 17:00 BST
- Today28 Oct 2026
- Award decision expected byin 35 days2 Dec 2026, 23:59 GMT
- Contract startsin 67 days4 Jan 2027
Notice history
1 event · 1 release on Find a Tender- Tender notice published25 Sept 2026, 13:07 BSTUK4
Contracting authority & participating public bodies
Official documents & specifications (1)
Official links; attachments are not copiedNotices published for this procedure
- Tender notice Tender notice on Find a Tender