Building Valuations for Insurance Purposes

Sefton Metropolitan Borough Council (the Council) is seeking quotes to supply buildings valuations for insurance purposes for 232 properties, whilst also receiving assurance that the level of professional indemnity insurance provided by the supplier(s) is satisfactory for risk purposes. The valuations required are for reinstatement cost and should be undertaken by professionals holding a RICS, or equivalent, qualification.

The valuations are to be undertaken via a hybrid exercise. Buildings identified as being valued at £500,000 or more are to be categorised by the supplier(s) and 15% of these buildings to be visited and valued before extrapolating across the rest of the portfolio. Buildings identified as being under £500,000 are all to be valued via a desktop exercise by the supplier(s).

Within the list of buildings there are the usual types of buildings for a local authority, including, but not limited to, the following, and which includes some vacant properties: • Schools, Nurseries, and other educational establishments • Leisure Centres • Children's Centres and Homes • Residential Homes • Town Halls • Offices • Depots • Park Pavilions • Cemeteries and Crematoria • Libraries • Market Hall • Pumping Stations

There is no in-house building surveyor capacity in the Council to support with this exercise, and limited information to hand, although a broad range of the assets can potentially be categorised, such as year of build and area with some asset management surveys made available. Please therefore assume that there is limited information available.