Sector: Housing Association
The Role: Sample Stock Condition Survey
Client: Safe Haven London
The Project: Sillence Hurn was commissioned by Safe Haven London to undertake a sample stock condition survey of a residential portfolio and prepare a report with extrapolated expenditure estimates.
The scope of services was agreed as:
- Impressionistic survey - desktop review to group and archetype properties;
- Sample selection - selection of a representative sample of blocks to be surveyed using the "beacon" principle;
- Survey form - preparation of a pro-forma survey questionnaire to collect appropriate data
- Desk top review - request information regarding the past 2 years' service charge from the vendor, review and predict;
- Preparation of expenditure profile - showing predicted expenditure to a 30 or 50 year horizon for each property and summarised for the portfolio as a whole, including major repairs, cyclical works, and servicing costs along with any unusual or exceptional costs identified;
- Report - setting out the methodology and key findings. We have assumed cost tables will address the external and communal areas only and costs for works inside the individual properties are not required.
The Objective: The survey and report was to provide an independent opinion of a 30-year profile of likely costs that would fall to the owner of the portfolio to assist with financial planning and cash flow.