Subject: Statutory valuation

1. You are requested by a Local Authority client to advise upon how Public Sector property might be valued for Accounting purposes. The client requires the full details of the valuation approach, methodology and considerations that need to be made. (10 marks) Incidental to this they have also asked for you to specifically value the following asset to demonstrate the valuation approach: Alpha Sports Village: A Sports Complex comprising: Sports Hall comprising 800sq m built in 1972 with a later extension comprising 5 x indoor courts built in 1980. The extension comprises 150sq m. The main building has a caf (let on a 3 year lease to a catering company at a rent of 10,000pa. The lease is due to expire in October 2022). Outdoor 4G football pitch constructed with lottery grant funding in 2015 at a cost of 100,000 2 x Separate changing rooms built in 1995 comprising 80sq m each 4 x Outbuildings used for storage built in 1980 comprising 35sq m each. Pay and display car park which serves the Sports Hall and town centre. The car park income averages 32,000pa Use BCIS to calculate your build costs (15 marks) 1. You are requested by a Local Authority client to advise upon how Public Sector property might be valued for Accounting purposes. The client requires the full details of the valuation approach, methodology and considerations that need to be made. (10 marks) Incidental to this they have also asked for you to specifically value the following asset to demonstrate the valuation approach: Alpha Sports Village: A Sports Complex comprising: Sports Hall comprising 800sq m built in 1972 with a later extension comprising 5 x indoor courts built in 1980. The extension comprises 150sq m. The main building has a caf (let on a 3 year lease to a catering company at a rent of 10,000pa. The lease is due to expire in October 2022). Outdoor 4G football pitch constructed with lottery grant funding in 2015 at a cost of 100,000 2 x Separate changing rooms built in 1995 comprising 80sq m each 4 x Outbuildings used for storage built in 1980 comprising 35sq m each. Pay and display car park which serves the Sports Hall and town centre. The car park income averages 32,000pa Use BCIS to calculate your build costs (15 marks)