The Project
Property is a vital asset for any business or organisation experiencing a period of significant change. Particularly regarding periods of financial pressure and cuts. Organisations need to plan for the future to ensure their asset base is fit for purpose.
We support local authorities and organisations in being proactive, and to help analyse their portfolio performance to deliver significant savings, generate revenue and where possible release value for reinvestment.
Challenges
South Hams District Council and West Devon Borough Council needed to complete a programme of Building Reinstatement Insurance valuations of their portfolio. With a range of assets, including leisure centres, offices, public toilets, depots and business and industrial units, the Councils needed to complete this large exercise in a 3 month time period. With this information, the Council’s Insurance Teams were able to submit new valuation figures to their loss adjustors, so that they were able to calculate the new annual insurance premiums.
Guy Pedrick, Senior Specialist of Assets at South Hams District Council and West Devon Borough Council, said: “With over 190 assets needing valuing across the South Hams and West Devon we required support to get this important project delivered in a timely manner. Professional assistance to deliver this was much needed and TDA are a valued provider of this service.”
The Solution
We managed this bespoke project, providing regular updates on progress through a dedicated resource of one chartered surveyor. This dedicated surveyor acted as a conduit between the Council’s and our Estates Team, ensuring all data was provided to assist the project.
We also provided estate service support to South Hams District Council and West Devon Borough Council. The contract involved providing professional advice on all aspects of management of the Council’s estate, including new lettings, lease renewals, rent reviews, wayleaves and easements, release of restrictive covenants and asset valuations.
Results
The project was completed in three phases, all within an agreed timescale. Regular updates were provided throughout the project which comprised of the revaluation of 190 assets, totalling £102m.
| Sector | Government |
| Location | Devon |
