Valuations

 

 

 

Valuations are the basis for property decisions and can be required for many purposes - freehold or leasehold valuations for potential acquisitions or disposal,  bank lending or borrowing, company accounts, for pension fund liquidity  or probate.

 

For leasehold properties they are often required for rent review or lease restructuring. For development situations they are needed to establish viability of development, redevelopment or refurbishment schemes.

 

More recently, with many of the longer leases granted in the 1980s coming to an end, there has been a rise in the number of valuations needed to defend or claim dilapidations. These valuations arise under the terms of the Landlord and Tenant Act 1927. There is a presumption that such proceedings will go to Court for settlement and are as a result frequently extremely technical.

 

All formal valuations are subject to guidance issued by the Royal Institution of Chartered Surveyors ( The “Red Book”). They also require that all Chartered Surveyors providing such services are covered by Professional Indemnity Insurance.

 

We provide for all such valuations and comply with RICS Red Book and Professional Indemnity requirements.