Tameside Metropolitan Borough Council

Client

Tameside Metropolitan Borough Council

Brief

Undertake the annual valuation of the council’s entire property portfolio comprising approximately 400 different properties – almost 220 are investment assets and over 180 are operational properties.

The composition of the portfolio is highly varied ranging from advertising hoardings and playing fields, to ground lease investments and head quarter offices of up to 220,000 sq. ft.

The aggregate value of the portfolio over the past three years exceeds £330m.

Result

  • To inspect and value such a diverse property portfolio covering most property sectors, in a wide geographical area (some of which are rural), we created a dedicated Tameside Valuation Team comprising appropriately qualified and experienced staff members with the requisite mix of specialist skills
  • Given the size and disparate nature of the portfolio, as well as the telescoped timeframe in which to conduct the portfolio valuation every year, we worked with the client to develop a reporting format which met their specific requirements
    • We also developed a stringent internal monitoring protocol to ensure work was completed in line with our client’s requirements and in a timely manner
  • All valuations are based on DRC and Market Value basis
  • The brief (and therefore team) was extended to enable Tameside Council to tap into the firm’s multi-disciplinary skills set. This included the involvement of our:
    • Agency Team: responsible for the management of disposal of non-core property and for maximising the proceeds of each sale – we openly marketed the selected properties and negotiated prices above expectations
    • Building Consultancy, which focused on dilapidations negotiations and reinstatement cost assessments for insurance purposes.
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