East Ayrshire Council

As part of this instruction, Graham + Sibbald inspected all of the properties, which comprised a wide variety of uses to include schools, children’s units, care homes, community centres, transport depots and museums as well as leisure and community facilities. The valuations were issued in draft to the Council’s Legal & Estates Services for initial discussion prior to issuing and liaising with their external auditors, Deloitte LLP.

The basis of valuation used for ‘operational’ assets was Current Value in existing use, as defined in the CIPFA Code of Practice and the adaptation which it makes to IAS 16. The measurement approaches used to arrive at the Current Value of non-specialised operational assets was Existing Use Value (EUV) as defined at UK Valuation Practice Guidance Application [UK VPGA] 6. Specialised operational assets were valued using the Depreciated Replacement Cost (DRC) method in accordance with UK VPGA 1.5 and RICS UK Guidance Note Depreciated Replacement Cost Method of Valuation for Financial Reporting, 1st Edition. The ‘non-operational’ assets were valued on the basis of Fair Value in accordance with the relevant International Valuation Standards (IVS) and International Financial Reporting Standards (IFRS 13).

Graham + Sibbald’s Commercial Valuation + Advisory and Specialist Valuation Teams are ideally place to undertake this Valuation having extensive experience of undertaking Portfolio Asset Valuations for large public and private sector clients. This, together with our Knowledge of the market within the East Ayrshire Local Authority Area, gives us a distinct advantage. Additionally, our specialist valuation team has depth of experience in providing accounts valuation for both owned and leasehold assets and is familiar with the latest financial reporting requirements. The makes us well placed to provide accurate and reliable valuation advice to the Client.


The instruction was headed up by John Docherty, Head of Specialist Valuation, and Stephen Craig, Head of Valuation – West Region, who were tasked with co-ordinating a team of surveyors and liaising with East Ayrshire Council and the external auditors, Deloitte LLP. As part of this instruction we had to mobilise our survey teams to undertake the inspection of all 55 schools included within the instruction within the one-week school holiday in February at a time when they would be unoccupied.

The subsequent valuation was carried out by a team of surveyors from across our network of offices within the West of Scotland, ensuring the instruction was carried out as efficiently as possible. The respective offices provided the local market knowledge, comparable evidence and build costs where necessary. The valuations were discussed and reviewed internally prior to being agreed and passed onto the Council for comment. Following discussions, the final report which included an appendix on each asset, was issued within the required timeframe.

Key Challenges

One of the key challenges of this instruction was the diverse nature of the portfolio. The assets under valuation comprised sizable properties such as nurseries, primary and secondary schools and leisure and community facilities. Fortunately, Graham + Sibbald are well placed to look at such assets being a multi-disciplinary surveying practice with a wealth of inhouse knowledge and expertise.

Additionally, the instruction was required to be completed within a tight timescale which was put under further pressure due to the outbreak of the Coronavirus (Coivid-19) Pandemic. To combat this, we were able to pull in additional resources from other offices to ensure the required reporting timescales were met.

This instruction was carried out during the early stages of the Covid-19 Pandemic and the final report was issued during the Government enforced lockdown phase. All property inspections were carried out prior to lockdown however required additional safety measures to be put in place allowing them to be carried out safely. The majority of valuations and subsequent reports were undertaken during lockdown which involved the team liaising with each other remotely which was made possible due to our ability to access all of our requested systems from home and with the help of our administrative staff.  We remained in constant contact with the Client by way of conference calls and email updates.


The successful delivery of the 2020 Annual Asset Valuations to East Ayrshire Council, despite the challenges faced by the Covid-19 Pandemic.

Key Message

Graham + Sibbald have considerable experience in valuing public sector property portfolios for accounts purposes. In particular we have recently completed the portfolio valuation of East Ayrshire Council’s operational and non-operational assets in 2020 showcasing our ability to carry out complex multi-disciplinary valuations within tight timescales.

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  • 116
    properties valued within East Ayrshire
  • COVID-19
    valuations carried out at beginning of pandemic
“Graham + Sibbald were presented with a challenging task which was dramatically exacerbated with the onset of the COVID-19 lockdown. Despite the issues which emerged the job completed on time and with the minimum of fuss as Graham + Sibbald worked collaboratively with the Council. There were no issues in relation to the availability of key staff and all in all is of the success stories for the Council and its efforts to conclude the preparatory work for the annual audit. East Ayrshire Council would have no hesitation in either using the services of Graham + Sibbald again in the future or recommending them as an organisation to other potential customers.” Stuart McCall, Legal and Estates Services Manager, East Ayrshire Council