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Shetland Islands Council Asset Valuation

Shetland

Client

Shetland Islands Council

Size

90 assets

Service

Valuation

Region

North Scotland

Description

Valuation of a mixed portfolio of 90 assets on the Shetland Islands for year-end accounting purposes. The portfolio includes owner occupied properties used by the Council to deliver services, investment properties owned by the Council and let to other organisations, and vacant properties.

The exercise involved a combination of existing use, depreciated replacement and market value frameworks.

Outcome

Provision of independent valuations for inclusion in accounts.

Ability to capture the value of properties leased to the Council in accordance with IFRS 16 as accounting regulations changes.

Description

Outcome

Richard Lang

Partner, Valuation & Lease Advisory