Independent Valuation of the OE, C&P and CCS/CCUS Portfolios

Tender description

Crown Estate Scotland is seeking to appoint a RICS qualified valuer to undertake the annual Independent Valuation of the Crown Estate Scotland Ocean Energy (OE), Cables and Pipelines (C&P) and Carbon Capture and Storage (CCS/CCUS) Portfolios. These will be provided as individual, standalone valuations. The initial appointment will be for the FY2022/23 valuation, with the option to extend by three more years, one year at a time. Valuation Basis: - The valuations are of the various property agreements (Option and Lease agreements) within each portfolio, not the underlying seabed/foreshore. - The valuations will be based on a review of relevant documentation and discussions with CES staff. - No site visits will be required. - The Valuation should be carried out in accordance with the latest edition of RICS Valuation – Global Standards ('Red Book Global Standards') which took effect on 31 January 2022. - We have adopted IFRS (International Financial Reporting Standards). The basis of value should therefore be fair value and IFRS 13 (as amended) will apply.