Education Sector

Schools and Colleges are required to obtain independent valuation advice for a number of purposes, to include loan security, change of ownership, Academy status, Charities Act, business valuation or reinstatement cost appraisal (for insurance purposes).

As a firm of specialist Chartered Valuation Surveyors, Andrew Forbes are well equipped to provide independent valuations for a number of purposes including if:

  • The school is contemplating disposing of an asset
  • The school is contemplating acquisition of an asset
  • The school is contemplating Academy School status
  • The school is contemplating entering into leases or other agreements which will have a material effect upon the market value or market rent of the property
  • The school requires an independent check on their current reinstatement cost

By way of example, where schools are considering applying for Academy status they will need to consider the Government guidelines.  These are highlighted in a useful Department of Education web page: 

The school auditors will require as part of this process an independent valuation of the school land and buildings.  This is commonly carried out on a Depreciated Replacement Cost (DRC) basis.  Care must be exercised as to whether the land is to be included with the buildings, particularly where there are inter-related agreements between the church and the local education authority.

Andrew Forbes, Chartered Valuation Surveyors has a number of experienced Valuers who are all regulated by the Royal Institution of Chartered Surveyors (RICS).  They have the knowledge and expertise to assist schools and their professional advisers when a valuation is required.  We are also used to working with other professionals, including Quantity Surveyors, Architects and Building Surveyors who may also be involved with building projects and maintenance schedules.

Andrew Forbes is actively engaged in this sector of the market.  For example we have undertaken Academy School valuations (to include primary, secondary and sixth form schools) which were valued on a DRC basis.  We have separately valued a portfolio of children's nurseries for both pension fund and loan security purposes.

We are also able to assist clients with lease renewals or rent reviews of school and college premises.  We have experience of representing both landlords and tenants, in the private and state sectors.

Our Chartered Building Surveyors can also provide pre-acquisition surveys and advice where a school is seeking to purchase new assets to enhance its portfolio.  Please also refer to our web page on Building Surveying which details our range of services.  Of particular interest to Schools maybe:

  • Programmed or Planned Maintenance advice, including Schedule of Condition reports
  • Development/Project Monitoring
  • Independent Snagging Services at the end of a project

We can also provide with our Chartered Valuation Surveyors, Asset Management advice and appraisal.

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