Valuation of Specialist Filming Support Fleet

Brief

Hickman Shearer was appointed to undertake an independent valuation of filming support fleet assets in October 2025. The instruction served two key purposes:

• Financial reporting – to determine the Fair Value (FV) of the assets

• Lending and collateral – to determine Market Value (Ex Situ) for inclusion in lending due diligence

The portfolio comprised 255 specialist mobile units, including artist trailers, production offices, honey wagons, school rooms, motorhomes, and technical vehicles. Assets were located across two UK sites, with a proportion on active hire across the UK and Europe.

Work

Due Diligence & Inspections
Physical inspections were undertaken at the client’s head office and storage facility, where 73 assets (c. 29% of the fleet)were reviewed. Each unit was assessed for condition, specification, and operational status, with the majority found to be in very good cosmetic condition.

Information Review
The valuation drew on capital cost data, supplier invoices, management discussions, internal research, and publicly available market evidence. Asset tracking information from the client’s internal systems supported analysis of fleet utilisation and mobility.

Valuation Methodology
Due to limited direct market comparables for specialist filming assets, the team primarily adopted a Cost Approach, supported by:

• Replacement Cost New (direct method)

• Depreciation for age and condition

• Consideration of technical, physical, and economic obsolescence

A Market Approach was applied to motorhomes only, where sufficient comparable evidence was available. For Market Value (Ex Situ), additional economic obsolescence was applied to reflect a distressed-sale scenario.

Market Context & Risk Review
The team also considered wider sector and operational factors, including:

• Recovery patterns in film and television production

• Increasing sustainability requirements

• Cross-border operational complexities post-Brexit

A structured risk assessment identified key economic, physical, and asset management risks, particularly in relation to the recovery of EU-based units in a default scenario.

Outcome

The final report provided both the client and its lenders with:

• A robust, inspection-validated assessment of asset condition and value

• Independent, IVS-compliant valuation figures suitable for financial reporting

• A lender-ready collateral valuation based on an orderly, centrally administered UK auction scenario

• Clear explanation of the assumptions, risks, and market considerations underpinning the valuation conclusions

The result was a defensible and transparent valuation framework, supporting both financial reporting requirements and secured lending discussions.

Learn how we support capital asset valuation for balance sheet reporting and audit compliance. ➝ Financial Reporting & PPA Services

Explore our full range of asset valuation services, including cost, market, and depreciation analysis. ➝ Asset Valuation Services

Discover how we support complex sector asset valuations in the Transport and Broadcast sectors. ➝ Asset Valuation Sectors