Client: Commercial landlord
The Role: Reinstatement cost assessment
We were requested by the landlord to undertake an assessment of the costs to rebuild on the basis of a ‘day one reinstatement’ figure for building insurance purposes in accordance with current RICS guidelines.
This provided the landlord with an accurate building reinstatement cost in the event of total loss to reflect current building construction costs, location within a conservation area, and any adaptations since the previous valuation. We undertook a measurement of the GIA (Gross Internal Area) of the property and our costs were based upon published data and our own cost information.
The property is occupied by a dental surgery, which meant costs excluded any specialist tenant’s alterations for which the landlord did not have the responsibility to insure such as medical fixtures and compressor units.
Allowances were made for demolition, historic features, professional fees, and site-specific factors that might affect construction costs.
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