Challenge
The University of Bath is a top ten ranking UK University with over 15,000 students, and has a diverse range of buildings (from the mid 1960’s up to present day) and contents.
The University approached Eddisons initially to provide Insurance Valuations (ie reinstatement cost assessments of their buildings and contents). We needed to assess all their buildings on the campus, including some buildings and accommodation blocks off campus.
This was followed up by a requirement to value their land and buildings for their annual Financial Statement Valuation. Our service included assessing the buildings being used by the University as well as those surplus to requirements. The real challenge lay in the different use of the assets and therefore varying the type of valuation required.
Solution
We conducted full inspections of every building, including educational buildings, student accommodation, sports facilities and specialist residential facilities. On site and in office work was carried out, with the valuation team workings towards the client’s ultimate goal.
Results
In both instructions we managed to accurately provide all valuation advice for the client to meet their reporting deadlines. In respect of the Financial Statement Valuations this also included meeting their auditor’s requirements and queries.
Eddisons continue to provide Insurance Valuation update advice on an annual basis. We have also continued to provide Financial Statement Valuation and Property advice to the University, and have an agreement in place to re-value the assets in the future as and when required.
“Understanding the true value of your investments is critical in decision making. Valuing over £2bn of assets last year, our experienced and knowledgeable team are at the top of their profession.”
