Our Chartered Surveyors at Lea Hough have recently completed Asset Valuations of a portfolio of property for a Borough Council in Lancashire.
Our role involved undertaking inspections and preparing quinquennial Asset Valuations of Council owned property.
Our role was to prepare Valuations of Specialised Assets of over twenty public buildings including public toilets in various towns within the borough, a leisure centre / swimming pool, a museum, changing rooms, a civic hall, a café and an all-weather sports complex.
Due to the specialised nature of the assets, our Valuers used the Depreciated Replacement Cost (DRC) method to assess the value of the buildings.
In situations such as this, the DRC method of Valuation is typically used – where there is no market-based evidence, upon which a Surveyor can rely, to arrive at an assessment of the current value.
We carried out an inspection of each property, took measurements of the floor area, site area, considered the land value, and assessed the building value and remaining life-expectancy to arrive at a DRC Asset Valuation. Our report also included a site plan and photographs of each property within the portfolio. If you require advice regarding the Valuation of a portfolio of property using the Depreciated Replacement Cost (DRC) method, or Valuations of any other types of property, please contact us.
