About reinstatement cost assessments

A reinstatement cost assessment for building insurance purposes is a calculated estimate of the cost to rebuild a property based on total loss, including situations of substantial damage where complete building demolition and rebuilding would be necessary.
Precise and detailed reinstatement cost assessments are essential to ensure that, should a building incur damage from an insured risk, there is sufficient insurance cover to safeguard the property owner’s position in being able to recover their loss.

Advice Carter Jonas can provide with regards to reinstatement cost assessment

Carter Jonas regularly provides reinstatement cost assessments for both commercial and residential buildings to a wide range of clients and property holders across all property sectors.
It is essential to engage a professional in a reinstatement cost assessment as it will guarantee a robustly calculated valuation. This ensures that the building is insured at the correct level, avoiding the payment of unnecessarily high premiums and the potential of any shortfall in the event of a loss.

When you appoint Carter Jonas to complete a reinstatement cost assessment, an experienced surveyor will take a measurement of the property, which will be followed by a desktop assessment on either an elemental or floor area basis. Reports are provided with varying levels of detail, bespoke to the client’s requirements.

There is a specific need to include associated costs and risks, typically including demolition and site clearance, statutory requirements, site-specific factors, and professional fees. To provide the most accurate data and costs, our professionals regularly draw on sources including the RICS’s Building Cost Information Service, relevant cost information from recent Carter Jonas projects and trusted cost consultants and quantity surveyors. Assessments are typically reviewed every three to five years, often with an annual desktop update to incorporate inflationary and tender cost changes.

Why choose Carter Jonas for your reinstatement cost assessments?

Our building consultancy professionals are located in Bristol, Birmingham, Cambridge, Oxford, Leeds and London. Our designated teams contain highly qualified and experienced chartered building surveyors who consistently provide a professional, effective, and personal service.
We offer reinstatement cost assessments on an individual, multiple or portfolio basis, tailored to each client’s requirements. Our team works closely with other colleagues across Carter Jonas, such as the property management and valuation teams, to deliver a seamless service. We also offer reinstatement cost assessments as part of other services, such as pre-acquisition building surveys and market valuations for loan security purposes. Surveys and inspections are closely co-ordinated with our colleagues or third parties as required.

Through our specialist knowledge gained from working with historic and listed buildings on a regular basis, we are also well placed to advise on these complex and specialist structures.
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Richard Love is a Partner, Head of Building Surveying in our London Commercial Team. Richard joined from Watts Group PLC where he worked since 2010, most recently as director in it's project consultancy group. Richard's role is to provide building consultancy services, including relocation management, contract administration, design, strategic procurement and conservation advice with our clients.

Career Highlights:

Ealing Town Hall:
Full external restoration of Grade II Listed Victorian Gothic town hall building. The project arose from a survey identifying incidences of dangerous stonework and the project incorporated extensive masonry repairs, reroofing, redecorations, stained glass replacement, access improvements and drainage improvements.  Works on site were delivered over an eight month period during which the town hall remained fully operational.

The Royal College of Psychiatrists HQ Relocation:
Project management services in respect of all aspects of the HQ relocation for this prestigious medical college.  The relocation centred around moving into a 50,000sq ft 1980’s office building and delivered a comprehensive strip out and refurbishment including the creating of canteen and catering facilities, conference space, library including antique book collection and sublet space.  The relocation was delivered in 9 months (inception to completion) and Richard also handled dilapidations matters on exit.

Career developments
Being appointed to the board overseeing the expansion of the Carter Jonas Commercial Division, which took place in early 2017. Also, managing the expansion of the Architecture and Building Consultancy team. The service line has doubled the number of specialists working within it in the last two years, becoming the largest team within the division. Further growth plans are currently in place for the next few years.

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Matthew is a Chartered Building Surveyor in the Chapel Place office. Matthew has undertaken various Building Surveying services to a diverse portfolio of clients, including Royal Mail, Salvation Army, Winchester Working Men’s Housing Society, Aurora Fashions and Network Rail.

His primary skills cover: Schedules of Work, Schedules of Condition, Party Wall matters, Planned Maintenance Repair and Refurbishment Contracts of various properties, Schedules of Dilapidations, Insurance Valuations , Fire Insurance Valuations, Contract Administration, Defect Diagnosis and Prognosis, Statutory Consents, Budget Costs and Pre-acquisition survey.

Career Highlights:

  • Shortlisted for Young Surveyor of the year in 2016.
  • Leading on Party Wall matters for whole Thameslink project over 5 year period.
  • Defending dilapidations claim on behalf of Tenant, resulting in a reduction of the Landlord’s claim from £4.9m to £1.45m
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Career Highlights:

  • Securing a portfolio insurance assessment in 2016 for over 150 assets in Greater London and Scotland.
  • Delivering a £700,000 CAT B fit out to fifth floor offices on Paternoster Square overlooking St Paul’s Cathedral in the Summer of 2015. 
  • Providing Lead Consultancy advice to major financial institution for CAT A refurbishment of 20,000 sqft offices in central Bath.
 
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Matthew Ellams is head of our project management team. He has considerable experience within the sector and has worked across a wide range of projects, servicing many different types of clients.

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Career Highlights:

  • Delivery of a £1m conversion to a 6,000sq.ft home

  • A £6m Cat A and Cat B office fit-out in the City of London

  • Six new flats and a commercial unit in Cambridge

  • A new build 7,000 sq ft commercial coldstore

 
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Career Highlights:

  • Project Management of the UK’s first retrospective fire pressurisation system on Grade II* listed tower building.
  • Conservation and Restoration of Grade II* listed 18thC Summerhouse.
  • Award Winning Conversion and Refurbishment of a Grade II listed farmhouse and range of traditional barns into a mixed use development.
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Keith is a Partner in the commercial team and is based out of our Cambridge office.

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Three career highlights:

  • Delivery of a pre-acquisition survey on an industrial estate in Brazil. It included a sewage treatment plant!
  • Acting as project monitor on 480,000ft2 of warehouse space in the Midlands.
  • Undertaking a measured survey on a derelict Second World War bunker in West London. It was underneath a primary school.
 
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