Client:
Store Property Investments Limited
Role:
Reinstatement Cost Assessment
Location:
South of England and Central London (various)
Brief
Store Property appointed Sillence Hurn to independently deliver reinstatement cost assessments for each asset within the portfolio which extends throughout Central London and the South East.
In order to understand current reinstatement cost assessments across the portfolio, our client sought external expertise to deliver a comprehensive review.
Store Property Investments Limited appointed Sillence Hurn to independently deliver reinstatement cost assessments for each asset ahead of their renewal date.
Project Outcomes
Sillence Hurn provided a bespoke fundamental breakdown of each property, with some varying in age. From delicate Edwardian architecture to newer, modern builds, our team tailored their report to suit the individual needs of the properties.
The team began visiting Store Property’s locations in mid-October 2022, ensuring each unit received their individual reinstatement cost values before the turn of the year. All assets were assessed by late December.
Dan Dempsey, Director at Store Property Investments Limited said: “Having previously undertaken this review internally, we engaged with Sillence Hurn to provide external specialist advice across our portfolio.
“With material availability and costs fluctuating, understanding the value of rebuilds is more challenging and important than ever before. Sillence Hurn’s experienced chartered building surveyors provided us with up-to-date market values in a short turnaround time".
Reinstatement Cost Assessments
By conducting regular reinstatement cost assessments, property owners and managers can be confident that they have accurate, up-to-date insurance, helping them avoid underinsurance and potential financial losses.
If your property’s renewal date is coming up, or if you’re unsure whether your building(s) is adequately insured, speak to a member of the team today. They will be happy to assist you with any queries you may have and provide bespoke RCA services tailored to your individual property needs.
Find out more about our Reinstatement Cost Assessment services here.
