HRA Revaluations

The requirement is for a full revaluation and review of our Beacon properties. The valuation work will encompass a more general survey around Kettering itself to understand the context within which the housing properties are sited. As part of this survey we also require: a statement of expected life of the individual properties, an apportionment between land and buildings and an impairment/market review.

All revaluations are to be as at 1st April commencing the financial year. We are required to ensure that the carrying value of the assets on the balance sheet should be materially accurate as at 31st March, the end of the financial year. In order to meet this requirement we also require the provision of an uplift percentage that should be applied to the 1st April valuation to enable closure of accounts at the following 31st March i.e. Valuation for 1st April 2015 with an uplift to bring it to 31st March 2016 (Impairment/Market Review).

Additional information: For full details of the quotation requirements please see attached document.

Expected timescales for work

In recognition of the timescales involved, we would like the 2015/16 surveys to commence December 2015 with a draft report prepared for consideration no later than 31st January 2016.

For future years we would like surveys to commence in time to provide a draft report prepared for consideration no later than 31st August ie: Surveys for the 2016/17 valuation would commence in time to allow a draft report to be submitted by 31st August 2016.

Quotation Requirements

Submitted quotations will be based upon a 60% price and 40% quality assessment.

Quality assessment – the quality assessment will comprise your written responses to the statements below: .

Price Assessment - The price assessment will be based upon completion of the form of quotation and pricing options contained within it.