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Part 1 Comprehensive Financial Valuations:

Comprehensive Financial Valuations are to be conducted on all non-current physical assets measured at fair value by a suitability qualified person at least once every 5 years. In between the comprehensive relavluations, assets need to be indexed.  Valuations are to be done as per Australian Accounting Standards Board AASB 13 (fair value measurement), AASB 116 (Property Plant and Equipment) as recommended by Qld Treasury NCAP 03 (valuation of assets).  Valuations are to take into consideration the highest and best use of asset that is physically possible, legally permissible, and financially feasible.  Considerations should include known latent condition of land or buildings including subsidence, contamination (land or buildings).

Part 2 Condition Assessments:

Building Condition Assessments are required every 3 years as per whole of government policy.  Building Condition Assessments are to include a forecast expenditure for the next 20 years, taking into consideration the purpose of the building (e.g., Lab vs Office).  Assessments should include switchboards.  Assessments for subsidence is out of scope and asbestos audits are also out of scope

For detailed information on the specific goods / services sought under this tender, please review the "Specification Documents" in "Section 3 - Here is the detail".