Framework Agreement for Right to Buy Valuation and Housing Stock Valuation Service

Birmingham City Council wishes to appoint suitably qualified service provider to provide professional valuation services across its corporate property and housing estates for Right to Buy valuations, building insurance valuations and housing stock asset valuations. Our objective is to deliver ‘right to buy’ valuations on Council owned residential properties as governed by the Housing Act 1985 and subsequent amendments. We are required to provide building insurance valuations and general valuation advice. We have an obligation to determine a valuation of the housing stock assets held by the council as identified in the asset register compiled annually. The Council also requires provision of its housing stock asset valuations for financial reporting purposes for each financial year . This will include a mixture of tenanted residential units of varying ages and character together with various garages. The supplier is required to determine a valuation of the Housing stock assets held by the Council as identified in the Asset Register compiled annually and valued as of 31 March annually for each year for inclusion in the authority’s balance sheet in accordance with the Chartered Institute of Public Finance and Accounting (CIPFA) Code of Practice. The supplier will review and give assurance that the values at the end of each financial year (31st March) will be materially correct and if necessary, update any valuations, where the movement is material.Tenderers are to note that this contract will be undertaken on a call off basis with orders placed as and when required.The Framework Agreement will last for 4 years (unless terminated under agreement provisions) commencing 1st April 2024.The Framework Agreement will be awarded to one supplier.