Asset Valuation
This is a contract result notice, not an open opportunity. Details from the official award data.
This is a large award for Business Services — above three-quarters of comparable contracts. Based on 57,319 valued Business Services tenders in our corpus.
1.1 All valuations and reports are to be prepared in accordance with the RICS Valuation - Professional Standards (Red Book) and the version of the CIPFA Code of Practice on Local Authority Accounting in the United Kingdom relevant to the financial year in question.
1.2 The operational portfolio of the Council is to be valued at Current Value.
For operational assets where there is an active market this shall be the existing use value, as defined by RICS.
If there is no market-based evidence of current value because of the specialist nature of the asset and/or the asset is rarely sold, valuation shall be using depreciated residual cost.
1.3 The investment property portfolio of the Council is to be valued at Fair Value, to comply with IFRS 13 requirements to consider highest and best use in the determination of fair value.
1.4 HRA Council Dwellings are to be valued at Current Value based on Existing Use Value - Social Housing as defined by DLUHC (previously DCLG) guidance.
The valuations will be prepared in compliance with the DLUHC (previously DCLG) guide "Stock Valuation for Resource Accounting - 2016".
If there are any revisions to the guidance throughout the life of the contract, the service provider will be required to comply with any such revisions as directed by the Authorised Officer.
What the supplier must deliver
For operational assets where there is
For operational assets where there is an active market this shall be the existing use value, as defined by RICS.
If there is no market-based evidence
If there is no market-based evidence of current value because of the specialist nature of the asset and/or the asset is rarely sold, valuation shall be using depreciated residual cost.
1.3 The investment property portfolio of
1.3 The investment property portfolio of the Council is to be valued at Fair Value, to comply with IFRS 13 requirements to consider highest and best use in the determination of fair value.
If there are any revisions to
If there are any revisions to the guidance throughout the life of the contract, the service provider will be required to comply with any such revisions as directed by the Authorised Officer.
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- OCID
- 7499bf00-d808-4d8a-bb33-547bbba6ead9
- Stage
- contract · Contract
- Source
- Contracts Finder
- Buyer ref
- tender_372637/1316814
Contains public sector information licensed under the Open Government Licence v3.0. Source data © Crown copyright.
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