Our Blue Light Valuation team understand the Depreciated Replacement Cost method of Valuation required for the Valuation of these specialist assets.
For various organisations and bodies, there is a need to value property assets periodically, so as to comply with financial reporting standards.
The unique nature of the assets held means that the comparable method of Valuation is not suitable. Instead, the Depreciated Replacement Costs (DRC) method must be adopted, which takes into account the cost of the land and buildings as opposed to the price they would achieve in the market.
The FHP Blue Light Valuation team are familiar and experienced in conducting the specialised asset valuation required for the Emergency services.
Our valuations have regard to the RICS Valuation – Professional Standards, Global & UK (“The Red Book”), in addition to International Financial Reporting Standards (IFRS) and guidance prepared by the Chartered Institute of Public Finance & Accountancy (CIPFA).
For further information or for a fee quote please contact one of the team below.
Recent large scale portfolio property instructions undertaken on behalf of public sector clients providing testament to our experience in this field include: –
- East Midlands Ambulance Service strategic review of properties and other occupational land comprising their entire property portfolio across Nottinghamshire, Derbyshire, Lincolnshire, Leicestershire and Northamptonshire.
- Retained by Leicestershire Fire & Rescue Services to provide property portfolio valuations of their operational properties for year end accounts.
- Retained by Staffordshire Fire & Rescue Services to undertaken sample portfolios and full property portfolio of fire station assets for year end accounts.
- Instructed by West Midlands Ambulance Service to undertake sample portfolio of refurbished stations upon a Depreciated Replacement Cost (DRC), Market Value (MV) and Reinstatement Cost Assessment (RCA) for insurance purposes.