Asset Valuations and Building Insurance Valuations for Dumfries & Galloway Council.

Tender description

Dumfries and Galloway Councils property portfolio comprises of a non-housing estate of some 1,150 land and asset holdings. They include Schools, Offices, Industrial Property Libraries/Customer Service Centres, Halls, Community Centres, Museums, Sports Facilities/Swimming Pools, Waste Facilities, Surplus Properties Assets Dumfries & Galloway Council is proposing to outsource asset and building insurance valuations for the current financial year and the next four years after that. The valuation date for this financial year is 31 March 2021. The valuation of the Council’s assets are carried out on a 5-year rolling programme. Any assets that have had significant enhancements (>10% of asset value) or are impaired or have moved category – e.g. from operational to surplus, will be added to the list annually. The contract would be for the 5-year period All valuations are to be carried out in accordance with the Royal institution of Chartered Surveyors (RICS) Red Book, International Finance Reporting Standards (IFRS) and The Chartered Institute of Public Finance and Accountancy (CIPFA) Accountancy Code. Due to the ongoing changing shape of the Council, the review of the assets and disposal processes, the annual list of assets to be valued will be subject to change. Therefore, the Council retains the right to add to or remove properties from the list of assets to be valued in any Financial Year.