Estates Valuation Service

Tender description

The CIPFA code of practice on local authority accounting 2018/19 requires that ‘assets must be revalued every five years as a minimum, but confirms that assets must be revalued more regularly where a five-yearly valuation is insufficient to keep pace with material changes in current value’. The five year milestone is 01.04.2021, however with the potential for a new valuer being appointed it is prudent to have them carry out a full revaluation as at 01.04.2019. A full revaluation will require every property to have a site visit, and will therefore require valuers to be vetted. There are a mixture of property types that will need to be classified in accordance with CIPFA and RICS. Valuation bases will need to be agreed between Lincolnshire Police and the valuer. Accounting Policies of Lincolnshire Police will need to be adhered to. Throughout the valuation exercise the valuer must adhere to RICS Appraisal and Valuation standards (Red Book) and CIPFA requirements Lot 30780: Estates Valuation Service Require qualified valuer to provide the value of Lincolnshire Police property assets as per the schedule below: 2019/20 Accounts - Full Revaluation as at 01.04.19 to be supplied by 31/01/20, with a review for material changes as at 31.03.20 to be supplied by 03.04.20 2020/21 Accounts – Desktop valuation as at 01.04.20 to be supplied by 31/12/20, with a review for material changes as at 31.03.21 to be supplied by 02.04.21 Require qualified valuer to provide RCA ScheduleAll communication is to be conducted via this Portal