Building Reinstatement Cost Assessments

Building reinstatement cost assessment involves establishing the materials and type of construction used in the physical parts of a building, and the likely infrastructure areas which would be affected by the complete loss of the building.

It is not a building valuation, but an assessment to determine the cost of reinstating a building to a similar standard in the event of complete loss of the building fabric/structure.

How we can help

We provide building reinstatement cost assessments for owners or occupiers of large buildings or property portfolios - for all property types, from schools and healthcare buildings to banks, shops, commercial and industrial premises.

We are skilled at undertaking assessments for large corporate entities on mixed use sites. For single structures, previous valuations have exceeded £30 million.

The process

We undertake a measured survey to establish a building's net/gross areas, and the extent of ‘special features' (such as architectural features, monuments, underground parking, water features, specialist plant or lifting equipment). During the inspection an assessment is also made of building age, condition of fabric/finishes and current/previous building use.

These assessments are used along with current BCIS construction rates to create a detailed numerical assessment. Provision is also included for addition or deduction of special factors, for site, location, listed building/conservation areas, regional locations and professional fees likely to be incurred.

Using the RICS Guidance Note we have developed our own reporting template and block referencing system which can be adjusted for clarity of reporting.

We understand the importance of thoroughly researching the likely impact of the complete loss of a building, and make an early assessment as to whether consultation with local authorities, listed building representatives and/or conservation area representatives will be beneficial. This ensures expectations are fully met and no risks arise from the building being under-insured.