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Tender and Quotation Opportunities

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TitleVALUATIONS OF SPORTS & LEISURE PROPERTIES AND MUSEUMS
Contract Reference NumberPL/2015/422
InformationStoke-on-Trent City Council requires valuation services prior to granting 30 year leases of its 5 Sports & Leisure properties and 2 Museums. The valuation reports are required to assess whether or not these disposals for less than best consideration will exceed the limits of the Local Government Act 1972 and in particular 'best value' If the difference between 'restricted' and 'unrestricted' valuation are in excess of £2,000,000 then the Council will have to apply for ministerial consent and submit copies of the valuations. All valuations should comply with RICS Valuation Standards (“Red Book”) Restricted values will be in accordance with the Market Value definition however as the subject properties are of a specialist nature it is recognized that market comparables are likely to be scarce therefore an alternative method of valuation might be more appropriate. The valuations should be take into account that there will be 30 year leases at a peppercorn rent and the fact that the leases will have a strong user clause to ensure that the existing use of the properties continue and no higher alternative use will be permitted. Unrestricted values should be on a similar basis to the above but that the properties might be suitable for an alternative higher value use (subject to planning and no restrictions on title deeds etc..) The valuer shall communicate the valuation to the client in accordance with the arrangements agreed and set out in the terms of engagement. This shall include the submission of a valuation report to comply with the standards of the Red Book. The valuations should be based on the 30 year lease and NOT the estimated freehold valuation of the property. The quote must be for a fixed amount lump sum based on providing for the 7 valuations and be fully inclusive of all disbursements, expenses and costs but be exclusive of VAT. No additional charges will be accepted by the City Council.
Award CriteriaMEAT
Is the opportunity suitable for small and medium businessesYes
This is being advertised on the Stoke-on-Trent City Council website, Facebook, Twitter and Google+.
Closing Date/Time18/06/2015 12:00:00
Contract Start Date2015-06-22 00:00:00
Contract End Date2015-07-06 00:00:00
Contact DetailsLinda Mongey
01782 232159
Linda.Mongey@stoke.gov.uk

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