RUG - Property Asset Valuations (Further Competition RM6168) - AWARD

Rugby BC (RUG) · awarded 20 May 2024

Who

Buyer	Rugby BC (RUG) Rugby
Supplier	Bruton Knowles
Category	services
Classification	Building surveying services CPV 71315300
Notice published	8 November 2024

What it is for

Rugby Borough Council (the Council) is seeking a contract to provide property valuations for all of the Council's property assets for up to three valuation periods for Financial Years 2023/24, 2024/25 and 2025/26, with the option for 2 one year extensions. The Council currently has circa 125 property assets (including offices, car parks, allotments, cemeteries, Parks, and investment properties) plus 3,700 Houses and Flats held as part of the Housing Revenue account (HRA) which due to accounting and audit requirements must be valued for the authority's Annual Statement of Accounts to ensure the carrying amount in the accounts is not materially different from their current value. This will include assets where the Council has a 'right of use' but does not own the asset, as per the IFRS16 accounting standard.

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