Challenge
Eddisons were appointed by the client to undertake a Reinstatement Cost Assessment of Liverpool Hope University, including all the properties across there multiple campus locations, in addition to their halls of residence, to determine the current re-build cost for insurance purposes.
Solution
Our specialist reinstatement valuation team were instructed for a period of 8 years to ensure that accurate reinstatement values were maintained throughout the term to provide the client with cost certainty, whilst also ensuring best value for money for the client by undertaking a combination of both site based and desktop assessments.
The scope of service comprised of a full initial survey of the estate to determine construction, quality of finish, size of premises and demolition constraints to aid in accurately quantifying the required re-build rate in line with RICS professional standards and guidance document for Reinstatement Cost Assessments for buildings.
Results
Eddisons worked closely with the client after the initial site inspection to determine the re-build cost of their mixed portfolio of university buildings, taking many factors into account such as: demolition cost, reinstatement cost, statutory compliance and professional fees. Eddisons utilised various cost databases and recent construction costs to determine the reinstatement cost, currently totalling £320m across the portfolio.
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