SS19006 Asset Management Valuation Service

Tender description

Kent County Council (KCC) require a contract to deliver its Asset Valuation Programme for Local Authority Capital Accounting purposes for the 2019/20, 2020/21 and 2021/22 valuations. KCC has a portfolio of 768 assets. As at 01.04.2019 the portfolio comprises: • 450 operational assets valued at DRC • 76 operational assets valued at EUV • 93 playing fields valued at EUV • 84 surplus assets valued at fair value of highest and best use • 59 investment properties valued at fair value of highest and best use • 6 assets held for sale valued at fair value of highest and best use. The Council has a policy in place to revalue its assets at least every 4 years. More frequent valuations are carried out if conditions / variables change that would materially affect the valuations. Investment properties and assets held for sale must be revalued annually. Assets are also revalued following significant (£400k) additions in the previous year. KCC’s valuation date is 31st March each year. We anticipate the volume of valuations required to be between 200 and 500 per year but the exact requirement will vary depending on the level of disposals, acquisitions, the number of schools transferring to academy status and market conditions The anticipated contract length is 2 years with the option to extend a further 12 months. Contract commencement date: 01 September 2019 Please direct all questions and communication through the Kent Business Portal via the messaging facility. Tenders must be returned via the portal by 12pm on Monday 22nd July 2019 Keywords: Valuations, Asset, Property