RMCB 051 Asset Valuation Programme

This is an award notice for an RICS Regulated firm to provide valuation services for the annual asset valuation programme and ad hoc valuation advice as required. The Council holds a diverse land and property portfolio of around 460 assets, all located within the county and with a balance sheet value of c.£500m.

Shropshire itself is a rural county with a population of 327,200 across the County town of Shrewsbury, market towns and rural settlements. Property assets include commercial retail, office and industrial sites, accommodation properties, schools, car parks, waste and highways sites, smallholdings and land held on both freehold and leasehold titles.

The assets are held as either Investment or Property Plant and Equipment, Surplus or Held for Sale categories. The appointed valuers will need to be qualified and competent to value all types of freehold and leasehold property asset, complying with both the requirements of the RICS Valuation Standards and CIPFA regulations.

Valuations are on a Market Value Basis, Existing Use or Depreciated Replacement Cost basis. Valuations are required to be presented as a land/building split with an estimate of the remaining useful life for PPE and Surplus valuations.

The Council has a componentisation policy which is to be implemented based on the asset values. The appointment will be for three years with an option to extend for a further two years.