19 078 Asset Valuations 2019 - 2023 (CCS RM16 call-off)

This is a contract award notice for:

• i.Carry out property valuations, over a four year period covering 01/04/2019 to 31/03/2023, as advised by the Council, the current identified need is for the number of valuations that are specified in the appendix but the Council reserves the right to change these numbers at any time. These will be called "Programmed Valuations".

• ii.Carry out property valuations through completion of an annual desktop review of groups of assets that are either let under market value, or below market value agreements, or derive an annual income stream; covering a number of valuations as specified in the appendix, but subject to any changes. Valuations for each group of assets will be determined using proforma summaries the format of which are to be agreed with the Council. The Council reserves the right to pre-populate these summaries with inputs from its own information streams.

• iii.Carry out property valuations for additional 'off programme' property valuations that may also be required ("Ad Hoc Valuations"). Requests for these additional Ad Hoc Valuations may occur when material and permanent changes in the property market affect all or a significant part of the portfolio necessitating a formal revaluation before the end of the four year period; or when an Asset Under Construction, have been completed and become operational during the Financial Year; or where an asset has incurred a significant amount of Capital Enhancement or Impairment during the Financial Year.

• iv.Provide an end of year Market Appraisal and Review Refer to Spec for further info