Our team successfully delivered the financial reporting and insurance valuations for the Department of Education West (DE West) portfolio.
The DE West portfolio consists of 162 schools located within the western region of Metropolitan Melbourne, across Brimbank, Hobsons Bay, Maribyrnong, Melton and Wyndham Municipalities.
When assessing Fair Value, our valuation approach utilises either a Market Based Approach and/or a Depreciated Cost Approach (DRC), which is determined by the nature of the asset.
The properties that are identified as having an “active and liquid” market are valued using a market based approach. Properties that have no discernible “active and liquid” market on which to base a comparison are valued on a Depreciated Replacement Cost Approach (DRC).
Our financial reporting valuations also contemplate (where appropriate) a Community Service Obligation (CSO) allowance, which is made for the difference between the unrestricted value and restricted value; this takes into consideration the legal, financial or physical constraints on use or sale of the asset.
“Urbis has extensive experience in financial reporting valuations, and we ensure compliance with the relevant Australian accounting and valuation standards such as AASB, IFRS and API guidance papers.