# Asset Valuation

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [capitalEsourcing](/buyers/capitalesourcing/contract-awards)
- Contract winner: [Sanderson Weatherall LLP](/contract-winners/sanderson-weatherall/public-sector-contract-awards)
- Award value: £351,250
- Tender value: £351,250
- Award date: 21 February 2024
- Published: 21 February 2024
- Contract start: 21 February 2024
- Contract end: 3 December 2026
- Stage: awarded
- Procurement category: services
- Notice ID: 7499bf00-d808-4d8a-bb33-547bbba6ead9-725427
- OCID: ocds-b5fd17-73a1f223-c822-4a81-b134-ac03e87034a2

## Description

1\.1 All valuations and reports are to be prepared in accordance with the RICS Valuation - Professional Standards \(Red Book\) and the version of the CIPFA Code of Practice on Local Authority Accounting in the United Kingdom relevant to the financial year in question\. 1\.2 The operational portfolio of the Council is to be valued at Current Value\. For operational assets where there is an active market this shall be the existing use value, as defined by RICS\. If there is no market-based evidence of current value because of the specialist nature of the asset and/or the asset is rarely sold, valuation shall be using depreciated residual cost\. 1\.3 The investment property portfolio of the Council is to be valued at Fair Value, to comply with IFRS 13 requirements to consider highest and best use in the determination of fair value\. 1\.4 HRA Council Dwellings are to be valued at Current Value based on Existing Use Value - Social Housing as defined by DLUHC \(previously DCLG\) guidance\. The valuations will be prepared in compliance with the DLUHC \(previously DCLG\) guide "Stock Valuation for Resource Accounting - 2016"\. If there are any revisions to the guidance throughout the life of the contract, the service provider will be required to comply with any such revisions as directed by the Authorised Officer\.

## Related contract awards

- [Provision of Building and Security Services](/contracts/ocds-b5fd17-76bcf458-a4c3-44ab-bef5-bcc19bbd1095): capitalEsourcing
- [Second Source Responsive Repairs - Multi-trade](/contracts/ocds-b5fd17-01d4c3cb-916c-416a-b30d-a7e608b2ab9f): capitalEsourcing
- [Tavistock Gardens - Hard & Soft Landscaping](/contracts/ocds-b5fd17-f77600dc-ecc9-4ac3-b253-880e9c738284): capitalEsourcing
- [Homes England - Lot 1 - Disposal Viaduct Road, Leeds](/contracts/ocds-b5fd17-5e711951-a6bd-4d0a-8032-08cff3f67d4d): Homes England \(the name adopted by the Homes and Communities Agency\)
- [Homes England - Gateshead Regeneration Partnership - Technical Due Diligence](/contracts/ocds-b5fd17-a11999ed-1bff-43ff-b660-4cd8e4908e9e): Homes England \(the name adopted by the Homes and Communities Agency\)
- [GB-London: N202600013 Estates Management and Advisory Services](/contracts/ocds-b5fd17-a616d0bf-4595-4d3e-8159-674e21adb35a): BIP SOLUTIONS LIMITED

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/7499bf00-d808-4d8a-bb33-547bbba6ead9-725427)