Service: Valuation | Sector: Operational Real Estate | Contact: Charlie Wacher
Having recently constructed the new Exhibition Road Quarter – a new café, courtyard and exhibition gallery – the Victoria & Albert Museum instructed us to provide an asset valuation for financial reporting purposes to reflect the expanded estate.
Our approach identified the sites were specialised and non-specialised, therefore providing for two different valuation techniques to be employed. As part of the valuation process we closely analysed the costs of the new Exhibition Road Quarter having undertaken a full inspection. In accordance with guidance we ensured that appropriate values were reflected for their assets.
Careful consideration as to the treatment of the new extension improved valuation accuracy. The asset valuation provided to the client was in accordance with the relevant standards which ensured audit compliance and correct reporting.