Schools Case Study
Rushton International has a huge amount of experience in the Schools and the PFI arena. We have valued public and private educational facilities from primary schools to universities, throughout the UK and have developed an extensive cost database and reliable model of assessing reinstatement costs.
A recent instruction involved the valuation of the assets of four project companies, each set up in c.2006 for the design, build and facilities management of twelve schools throughout the UK.
Original cost information was consulted, where available, as well as a review of asset registers and architectural drawings. The properties were broken down into their component parts and valuations worked up elementally and analysed against rates per square metre and by design capacity i.e. number of children.
The original contract value in 2006 was in the order of £285m, and the revised declared value following our assessment equated to c. £400m.
Declared Values were never disclosed to us until the end of the instruction, when we were advised we differed by less than 0.5%. Considering the nature of the client, this gave both parties huge confidence as to the reliability of the valuation and our assessment method generally.
Upon delivery of this piece of work to a major UK based contractor, we assisted our client further with several insurer queries. On completion of the assignment our client said;
“The experience we have had in working with Rushton on this instruction has been a positive one. From the tender process, arranging site visits for surveys, and right through to issue of the corresponding reports, the team at Rushton have been very accommodating to our requests and have kept us updated regarding timescales for concluding the exercise. I would not hesitate to invite Rushton to tender for similar work again in the future and do hope to work together again soon.”
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About Rushton International
Rushton International is an independent and impartial asset valuation and advisory firm. We specialise in the valuation of plant, equipment and buildings for insurance purposes. With our team of qualified and accredited valuers, we have the experience, qualifications and expertise to value any asset, anywhere in the world.Read more
Rushton International is a tried and trusted name in insurance valuations. Our valuation advice assists clients, risk managers and their brokers to accurately and confidentially set sums insured for the fixed assets in their insurance programme.More
We work with our clients to deliver comprehensive valuation advice for financial reporting purposes. By using our sector experience and market knowledge we are able to assist with the valuation of plant, equipment and other specialised assets in order to estimate fair value for GAAP and IFRS financial reporting purposes.More
Rushton International provides asset management solutions that are tailored to our clients’ needs. Our work ranges from asset verification, preparation of computerised asset registers and updating asset registers.More