Valuation of Shared Waste Partnership Assets

Tender description

Hampshire County Council, on behalf of Project Integra, a local authority partnership comprising Hampshire County Council, Southampton City Council and Portsmouth City Council with Hampshire Waste Services Ltd require a valuation of the shared waste partnership assets as at 31 March 2024 for financial accounting purposes to include land, buildings & specialist plant/equipment. This includes the following five sites. 1) Chineham Energy Recovery Facility, Whitmarsh Lane, Chineham, Basingstoke, Hampshire, RG24 8LL 2) Marchwood Energy Recovery Facility, Marchwood Industrial Park, Oceanic Way, Southampton, Hampshire, SO40 4BD 3) Portsmouth Energy Recovery Facility, Quartremaine Road, Portsmouth, Hampshire, PO3 5HQ 4) Alton Material Recovery Facility, Farnham Road, Upper Froyle, Alton, Hampshire, GU34 4JD 5) Portsmouth Material Recovery Facility, Quartremaine Road, Portsmouth, Hampshire, PO3 5HQ Valuation Requirements The principles and practices used to compile the financial statements of local authorities are governed by the CIPFA Code of Practice 2023/24 ('the Code'), based on International Financial Reporting Standards (which means that asset valuations must be valid at the closing balance sheet date of 31st March each year). The specified assets must be valued in accordance with requirements of the CIPFA Code and the Statements of Asset Valuation Principles and Guidance Notes issued by the Royal Institution of Chartered Surveyors. Effective Date of Valuations The effective date for valuations is 31st March 2024 Contract Details The contract will be with Hampshire County Council as lead authority for the partnership. The anticipated start date for the contract will be 5 February 2024. Valuations should be completed and draft report issued no later than 8 April 2024. Contact Details Please direct any questions to capital.accounting@hants.gov.uk Please note the following deadlines for responding to this request. Deadline for clarification queries and confirmation of interest: 5pm Friday 5 January 2024 Quotation return: 5pm Friday 19 January 2024