GBC PT Leasehold Enfranchisement and Shared Ownership Valuation

Guildford Borough Council (the "Council") has a statutory duty to ensure that the value of the Council's property assets reflect Current Value for operational properties or Fair Value for investment property and surplus property assets, and that each property asset is valued at least once every five years.

This Invitation to Tender invites organisations to tender for a three-year contract with the option to extend for one plus one further year to carry out valuations of Leasehold and Shared Ownership properties with regards to lease extensions. The tenderer's proposed methodology for each element of the services described in this Brief must be compliant with the legislation and the RICS Code of Practice relating to valuations for leasehold enfranchisement and equity sharing of social housing.

The Council seeks to appoint a single organisation with adequate resources and a proven record of accomplishment to undertake this contract to help ensure greater certainty and accuracy within the Council's balance sheet that is robust to Auditor scrutiny.

The contract will comprise the valuation of around 230 dwellings held under shared ownership with an unexpired leasehold term of less than 80 years, and around 250 dwellings held under a long lease since 1980. A valuation is required each time the leaseholder puts in a request to extend their lease.

There is the potential for each year the Contractor may be required to provide a valuation service for up to 10 to 15 per year.