Soho Street - Valuation Works

Tender description

Liverpool City Council (the Council) own land holdings across three sites between Soho Street, St Anne Street and Birkett Street, to the north of the city centre. Sites 1 and 2 (Land between Springfield, Harker Street, Wakefield Street, Birkett Street and Jenkinson Street) total 6.9 acres of amenity space. Sites 1 and 2 are allocated as Green Space (P26) in the Liverpool UDP and Open Space in the Draft Local Plan. Site 3 (Land situated at the junction of St Anne Street, Springfield and New Islington) total 0.77 acres of amenity space and is allocated as Primarily Residential Area in both the adopted UDP and Draft Local Plan. Property Management and the Development Team have discussed obtaining a valuation for the three sites. Both teams have been involved in discussions with LJMU following their proactive approach to the Council to acquire the land and there have been internal discussions regarding the sites as part of the housing strategy or to realise a capital receipt. An external red book valuation will provide a well-considered and robust report detailing the potential end uses for the development site and their achievable land value at best consideration, subject to and incompliance with the Council’s Contract Standing Order’s (CSO’s) and authorisation from SOG/the Mayor’s Office/Members/Commissioner’s, etc. Due to the likely open-ended-ness of the valuation needed, it may be more appropriate to seek out a Valuer/Surveyor with the specialised experience needed when assessing the potential future uses of the site, i.e. further education, residential, leisure, office, etc. A Valuer/Surveyor who has a good understanding of specialised valuation based on future income/revenue is what is required for the Council to better understand the three sites development potential and associated values. CPU will work with the stakeholders to determine the most applicable suppliers to bid for this RFQ. Relevant Pass/Fail questions will also be added as part of the evaluation criteria. The Valuer/Surveyor’s knowledge and experience in assessing the site’s constraints and associated risks as well as opportunities and value would be presented in a future Report to the Council. The Report will provide a high standard of site inspection and investigation(s), analysis, definition and justification to be presented to the Capital Board and could detail and justify future development considerations and assumptions.