Provision for Property Valuation and Re-Instatement Costs

Description

Royal Berkshire Fire and Rescue Service (RBFRS) is required to fulfil a statutory responsibility to conduct valuation of its property portfolio which includes fire stations, a Right of Use Asset and investment properties in accordance with Royal Institution of Chartered Surveyors (RICS) - Valuation Standards 2024 effective January 2025 (the "Red Book") to include the international Valuation Standards and the RICS Valuation - Global Standards 2025 which includes UK National Supplement. As the contract value is under £100k, a 3-quote process was completed to award the contract based on a price-only evaluation, as that was what was needed to complete the financial year 2025/26's property valuation. Valuations will continue until the financial year 2027/28.