The summer break is often an ideal time for schools to carry out repairs and improvement works across their estates. Increasingly, many academy schools, or those in the process of converting, are also using the six-week holiday as the perfect window to arrange school valuations.
This summer, Lea Hough’s Valuation Team was commissioned to deliver a series of specialist valuations for schools across the North of England. These included Depreciated Replacement Cost (DRC) Valuations for schools newly joining Multi-Academy Trusts (MATs), as well as Valuations of existing academies’ assets to support annual audit requirements.
Our work took us across Lancashire, Greater Manchester, and Yorkshire, where we collaborated with school business managers, academy trust leaders, and auditors to provide clear, reliable valuation reports that fully meet regulatory standards.
Why are DRC Valuations Needed?
When schools convert to academies or join an existing MAT, a formal Valuation of their land and buildings is often required.
Existing academies need Valuations by RICS Registered Valuers carried out at regular intervals to satisfy audit and compliance obligations.
A DRC Valuation establishes the value of the school’s assets based on the cost of replacing the buildings with a modern equivalent, taking into account age, condition, and functional suitability.
These Valuation Reports are highly specialist, requiring not only technical expertise but also an in-depth understanding of educational properties and how they differ from other asset classes.
A Niche Service – But One We Excel At
Not many firms of Chartered Surveyors offer DRC Valuations for schools, and fewer still have a dedicated team of Valuation Surveyors with experience working in the academy and education sector. At Lea Hough, our Valuation Surveyors have developed a strong track record in this area, helping MATs and schools to navigate the valuation process smoothly and efficiently.
By scheduling the inspections during the summer holidays, we are able to access school sites without disruption, ensuring the process is simple and straightforward.
Supporting Schools and Trusts Across North West
As the number of academies and MATs continues to grow, the need for accurate, professional valuation advice has never been greater. Whether it’s for conversion, expansion of a trust or annual audit requirements, our team is ideally placed to provide the expertise schools require.
If you are a school, academy or MAT in need of a DRC Valuation by an RICS Registered Valuer, please get in touch with Lea Hough’s Valuation Team to discuss how we can help.
