Provision of Asset and Insurance Reinstatement Valuations to Herefordshire Council

About

Herefordshire Council awarded a contract to Wilks Head & Eve LLP for formal asset valuations of part of its property portfolio, for inclusion in the Council's asset register and balance sheet by the end of the financial year, in accordance with RICS guidance and the IFRS-based CIPFA Code of Practice on Local Authority Accounting.

The scope covered valuations for investment assets, assets held for sale, surplus assets, assets changing asset class, and assets substantially improved or impaired, plus a regional sector market forces review as a validation check and a review of assets listed for valuation to verify significant changes in value between valuation dates.

The contract value was £27,566.