We were recently instructed by a nationwide managing agent to review a recently revalued pair of prominent residential tower blocks near Canary Wharf. The declared value (DV) given by their recent RCA had more than doubled the building’s insurance premium from circa £32m to £77m.
Conscientiously we conducted a thorough review of existing information, a full measured survey of both tower blocks and accurately valued the estate through elemental cost analysis to within a range of £76m – £78m, in near perfect agreement with the recent DV of £77m.
If you have a contentious declared value, and are struggling to explain the drastic change to your leaseholders consider instructing us for us peace of mind to undertake a third party review.
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