OPB work

Question 1

What is OBP work ?

Answer 1

Non taxation or statutory work.

• implementation of a wide range of regulatory and legislative functions / requirements
• support for the delivery of government policies
• situations where a public function and / or public money is involved in connection with property issues

Question 2

Name some OBP clients

Answer 2

central government
Executive agency’s
NHS ect…

Question 3

What role dose the VOA when assisting with OPB work

Answer 3

• To value
• To negotiate
• To provide property advice
• To be an Expert Witness
• To be an Independent Expert
• To be a Single Independent Valuer

Question 4

What are the key sectors that OPB operate in and what kind of work would we conduct in each sector?

Answer 4

• Health
  o Asset Valuations: required for financial reporting purposes under IFRS / HMT rules
  o Doctors Rent & Rates Scheme (DRRS): cyclical rental valuations of GP surgeries
  o Primary Care 3PD/LIFT: new primary care development work
  o Estates valuation advice: acquisitions, disposals, leases and rent reviews
• Transport
  o Planning advice: route selection
  o Estimates: acquisition & compensation costs
  o Compulsory Purchase: negotiating/handling compensation claims, including Blight Notices, Purchase Notices, Part 1 Claims, Disturbance
  o Easements – Wayleaves – Licences
• Local government
  o Development Viability: s106; Affordable Housing
  o Compulsory Purchase & compensation
  o Strategic asset management
  o Valuations: purchase, disposals, leases & rent reviews
  o Building & Condition Surveys (Building Surveyors)
  o Asset Valuations under IFRS and CIPFA rules
• Central government
  o Asset Valuations for financial reporting purposes under IFRS & HMT rules
  o Academy School asset valuations - UKGAAP
  o Strategic valuation support to GPU (Cabinet Office) on govt estates policy
  o Treasury Solicitor valuations
  o Energy Performance Certificate

Question 5

What work will DVS not conduct for OPB work

Answer 5

• Rating appeals
• Capital taxation

Would represent a conflict of interest

Question 6

what are advantages of public bodies contracting

Answer 6

Public sector - shared values and public sector drive

Truly independent - Private sector may have COI

Key attributes -accountability; confidentiality; quality; consistency; cost-effectiveness

Question 7

How is OPB work funded and allocated

Answer 7

No fixed funding and all work musts be won.

Question 8

On what baisis dose OPB work recover funds

Answer 8

Balanced cost recovery basis
Direct Costs + Overhead Share = Income
No profit, no loss

Question 9

What standard is OBP work to ?

Answer 9

VOA is a RICS special Regulated Firm

All DVS work must comply with the RICS Red Book, Core Values and Rules of Conduct

DVS casework is subject to RICS Regulation audit and complaints investigation