What happens when an Asset loses its original objective? The Royal Canal in Dublin was completed in 1817, however by 1847 it was made obsolete by the coming of the Rail Age. In this video Ark Wingrove explores how valuable new objectives have been found for 'old' assets and ask if your organisation has any similar opportunities for extracting ‘Value from Assets’.
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Wondering - is it up to the market to decide?
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Ark. Really useful video. We come across these types of assets all the time as we specialise in valuing public sector assets. Often assets are originally built for a specific purpose and 100 years later are still being used but for completely different purposes. Modern examples are water towers now used for telecommunications. My simple answer to question comes back to the question we ask. Would you replace it if it were damaged and if so would you reconstruct it the same way or use a modern equivalent? If you replace it then it has value. The basis of replacement cost comes back to how you would replace it.