Valuation
Valuation Sheet 2023 Revaluation
Ref No.:
VR11178
Description:
MUSEUM
Property Address:
LITTLE TREASURES, SEAFIELD STREET, BANFF, AB45 1DR
Primary Practice Note:
Final Value:
£8,550
NAV:
£8,500
RV:
£8,500
Effective Date:
01/04/2023
Mitchell Burnett House
Colleonard Road
Banff AB45 1DZ
Buildings Value Practice Note: Contractor's Basis Valuations
| Building | Category | Floor | Measured Area (m²) | Wall Thickness Adjustment | Adjusted Area (m²) | Unit Cost Rate (£/m²) | Unit Rate Adjustment | Notional Contract Cost | Contract Size Adjustment | Adjusted Contract Cost | Fees Adjustment | ERC | Age Allowance | Further Allowance 1 | Further Allowance 2 | Further Allowance 3 | Further Allowance 4 | Further Allowance 5 | ARC |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | GF | 250.50 | -10.00% | 225.45 | £2,700.00 | £608,715 | +7.00% | £651,325 | +12.00% | £729,484 | -55.00% | £328,267 | |||||||
| TOTAL | 250.50 | £608,715 | £651,325 | £729,484 | £328,267 |
External Works (Site Works) Practice Note: Contractor's Basis Valuations
| Description | Type/RCG Code | Quantity | Unit of Measurement | Unit Cost (£) | Location Adjustment | Notional Contract Cost | Contract Size Adjustment | Adjusted Contract Cost | Fees Adjustment | ERC | Age Allowance | Functional Allowance | Technical Allowance | Other Allowance | ARC |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 290MM STONE WALL AV HT. 700MM | 30P1DS | 8 | m² | £330.00 | £2,640 | +7.00% | £2,824 | +12.00% | £3,162 | -55.00% | £1,422 | ||||
| FOUNDS | 30000A | 12 | m | £166.00 | £1,992 | +7.00% | £2,131 | +12.00% | £2,386 | -55.00% | £1,073 | ||||
| CONCRETE AREA | 33U165D | 5 | m² | £81.00 | £405 | +7.00% | £433 | +12.00% | £484 | -60.00% | £193 | ||||
| STONE STEPS 1.60M X 0.70M | 30K01FM | 1 | m | £2,665.00 | £2,665 | +7.00% | £2,851 | +12.00% | £3,193 | -55.00% | £1,436 | ||||
| TOTAL | £7,702 | £8,239 | £9,225 | £4,124 |
Land Value Practice Note: Contractor's Basis Valuations
| Description | Site Area (m²) | Site rate (£/m²) | Capital Land Value | Ebdon Allowance | Other Allowance | Adjusted Land Value |
|---|---|---|---|---|---|---|
| LAND (EBDON) | 496.00 | £25.00 | £12,400 | -55.00% | £5,580 | |
| TOTAL | £12,400 | £5,580 |
Summary & Decapitalisation Practice Note: Contractor's Basis Valuations
| Total NCC | Total ACC | Total Fees | Total ERC | Total ARC | %Difference (ERC to ARC) | Effective Capital Value | Decapitalise | Initial Value |
|---|---|---|---|---|---|---|---|---|
| £616,417 | £659,564 | £79,145 | £738,709 | £332,391 | -55.00% | £337,971 | @ 4.60% | £15,546 |
Final Adjustments Practice Note: Contractor's Basis Valuations
| Description | Initial Value | Adjustment % | Adjusted Value |
|---|---|---|---|
| ATTENDANCE | £15,546 | -45.00% | £8,550 |
| Final Value | £8,550 |
|---|---|
| NAV/RV | £8,500 |
| Effective Date | 01/04/2023 |
Additional Information:
Notional Contract Cost : £616,417
Contract Size Adjustment : +7.00%
Adjusted Contract Cost :£659,564
Fees Adjustment : +12.00%
Please note that this is for information only and should not be reused or sold. This has been prepared solely for the purposes of Non-Domestic Rating and should not be used for any other purpose. It remains the property of the Assessor for Grampian.
The above valuation is an on-line version of the individual valuation adapted to fit a standard presentation. This means that the valuation in some instances is not an exact replica of the calculation done by the Assessor.
No warranty is given and neither the Assessor for Grampian nor Grampian Valuation Joint Board accepts responsibility for any loss sustained as a result of any inaccuracy in the information given.
For enquiries or notification of changes, write to the Assessor at the above address, telephone 01261 819388 or email [email protected].
