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"Ensuring a smooth and accurate valuation process for Your academy trust"

How to Prepare for Your Valuation

For Assistance in understanding the Valuation process, please download our helpful .pdf file which will help guide you through what we need from you.

For help understanding the form please contact us and we will be happy to assist

Survey Guide

DRC Checklist – Valuation

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At Strawhorn Surveyors, we understand that accurate property valuations are key to your academy’s financial reporting. To ensure the valuation process is seamless, we’ve outlined the key pieces of information that are required from your team. Providing the following details will allow us to offer a compliant, reliable, and professional valuation for your academy trust’s land and buildings.

General Valuation Scope

Provide the initial requirements in bullet points with short explanations:

  • Financial Reporting Standards:
    • Please confirm whether the valuation will be in accordance with SORP 2019 / FRS102.
  • Valuation Date:
    • Confirm the date the valuation should be based on.
  • Property Tenure:
    • Is the property freehold or long leasehold?
  • Componentisation Requirement:
    • Does your accountant require componentisation of the building for depreciation purposes? This involves breaking the building into key components (e.g., substructure, structure, internal fit-out) and depreciating each separately based on its expected lifespan.
  • Valuation Basis Confirmation:
    • We will base our valuation on the Modern Equivalent Asset (MEA) method. This involves assessing the cost to rebuild the asset using modern construction methods and adjusting for obsolescence. Please confirm if this approach works or if any specific adjustments are required.

Property-Specific Information Required

For each property, please provide:

Building Details:

  • A schedule of blocks showing:
    • Block names & uses (e.g., teaching, dining, sports hall).
    • Gross Internal Area (GIA) of each block.
    • Estimated construction date of each block.
    • Photos (if available) to assist with visual assessment.
  • Refurbishment & Condition:
    • Details of any major refurbishments (e.g., roof replacements, window upgrades, re-cladding) along with dates.
    • A condition report for each school, or a general statement on its current condition.
  • Site Plan & Layout:
    • A site plan showing:
      • Total site area (including buildings and outdoor spaces).
      • Building footprint and hardstanding areas (e.g., car parks, playgrounds).

Functional & Economic Obsolescence Considerations

To provide a thorough valuation, we need to assess the functional and economic obsolescence of the buildings. Please assist with the following:

  • Functional Obsolescence:
    • Does the current design and layout of the building still serve the original function? Do the internal spaces make the best use of the available area, or would the building benefit from improvements to layout and design?
  • Economic Obsolescence:
    • Are the school places being filled? If not, are there external factors (e.g., competition from nearby schools, demographic shifts) impacting demand? We’d appreciate your thoughts on these aspects.
Start Your DRC Consultation (no obligation)

We’ll help clarify your valuation requirements before any formal engagement.

Next Steps

Please reach out to us with the requested information. If you have any questions or need clarification, feel free to contact us by clicking on the link below.

Need help gathering this information? We are happy to guide you through the process. Get in touch with our team for expert advice and support.