Reinstatement Cost Assessment Enquries

We are delighted to have recently been invited to tender to undertake a number of Reinstatement Cost Assessments.  The enquiries included a large portfolio of commercial properties in central London,a secondary school in London, flats in a converted industrial building and farm buildings in East Sussex.

Portfolio London

The portfolio of commercial properties in London are on one site with over 40 buildings which include commercial offices, retail units, a chapel, a meeting hall and ancillary buildings, structures and grounds.  There are a number of period properties including Grade 1 and Grade 2 listed buildings along with a limited number of more modern structures.

The reassessment of the portfolio is required before the insurance renewal early in 2019.  It has been 10 years since the last reinstatement cost assessment with sums’ insured being indexed linked since.  The Royal Institution of Chartered Surveyors (RICS) recommend that reinstatement cost assessments are undertaken every 3 years to ensure their accuracy.

The quotation included for the surveying of the properties to obtain floor areas to calculate the reinstatement cost assessments.  The Client supplied historic floor plans some dating back 40 years many of which are out of date.  In view of this we also submitted prices for the preparation of digital plans of all the buildings in the portfolio.  These digital plans could not only be used in the preparation of the assessments, but also by the Client in the future.

Secondary School London

In addition we were also invited to provide a quotation for a secondary school in London formed of a modern structure and the external areas include car parking and playing fields.  To undertake this we would measure the buildings and external areas and take details of the construction to allow us to calculate the assessment.

Converted Flats South London

We have also been contacted to prepare quotations for flats in South London.  These flats had been been formed from a converted industrial building which was extended to the rear with a modern structure.  The building included 27 flats and the previous reinstatement cost assessment was undertaken over 10 years ago.  There are no detailed plans provided so the complex building structures, which include penthouses require remeasuring.

Farm East Sussex

We are also in discussions with a Client in East Sussex to prepare a quotation for reinstatement cost assessments on a number of buildings.  We are waiting for further information on these but understand they include a farmhouse, a bungalow, a stables and adjacent ancillary buildings.  We will need carry out an inspection of the buildings to prepare the reinstatement cost assessments.

We undertake reinstatement cost assessments on a wide range of buildings and are always happy to provide quotations and advice to Clients.