Instruction Synopsis
Propitas Ltd were instructed to prepare a full reinstatement cost assessment valuation on a portfolio of 13 properties located in Wales, Liverpool, Manchester, The West Midlands and London. The buildings mainly comprised residential (flats) accommodation with a number of properties also including retail units.
The buildings varied in age and form of construction, and ranged from small blocks of flats in semi-rural locations to 25 storey residential and retail complexes located in city centre locations. The buildings ranged from simple rectangular designs to complex shapes with multiple storey levels. Floor plans associated with the properties were generally unavailable.
We carried out detailed site inspections to ascertain the various forms of construction and bespoke site features, to enable us to get a full understanding of how this would affect re-build costs. Subsequently, we produced individual assessment reports, which allowed the client to apportion costs to tenants through the service charge.
HOW PROPITAS ADDED VALUE
Our extensive knowledge of construction features and library of cost data enabled us to compile a realistic re-build valuation for each asset on the estate.
The nature of the building use meant that undertaking full measured surveys would have been very time consuming and therefore prohibitively expensive. Propitas identified an alternative method that was acceptable to the client providing economic solution which did not require disturbance of the residential occupants.
Working closely with the client to understand how they needed the data presenting for management purposes, we were able to tailor a report format to meet with their requirements which was provided within the requested deadline.
KEY INFORMATION
• Careful measurement and assessment of complex building types.
• Our report format was tailored to meet their requirements.
• Our extensive knowledge of various building types assisted us in producing detailed individual reinstatement cost assessments.
