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Commercial Property Valuations

T: 0161 518 8677

E: valuation@roger-hannah.co.uk

 

Our Commercial Property Valuation Team is vastly experienced and knowledgeable in the main commercial property classes of offices, industrial and retail. Whether working with properties on an individual or portfolio basis, our Team works closely with our Commercial Agency Department to ensure our valuations reflect current market sentiment.

Our Valuers work with you to ensure that your requirements are met in full, providing you with a detailed insightful property appraisal ensuring that your investment decisions are sound whether it be for acquisition/disposal, loan security, accounting / financial Reporting, Inheritance Tax (probate) and Designated Advisor’s Reports for charities and public sector bodies.

Our advice is relied upon by Banks, Local Authorities, charities, solicitors, investors and private individuals for a variety of purposes. Whatever the requirements for your commercial property, our Valuation Team will be able to assist you with the following:

  • Acquisition / Disposal

  • Loan Security

  • Inheritance Tax (probate)

  • Accounting / Financial Reporting

  • Rental

  • Expert Witness

  • Designated Advisor’s Report

  • Dilapidations

All our valuations are undertaken by RICS Registered Valuers.

This scheme provides clients with a clearly identifiable designation for the best regulated and qualified valuation professionals in the field. The Valuer Registration Scheme assures the quality of valuations, which are a key component underpinning most economic activity, to raise the credibility of Valuers.

RICS (Royal Institution of Chartered Surveyors) property valuations are carried out under strict criteria, to ensure the quality of the valuation while reinforcing professional standards.

RICS valuations are carried out in an independent capacity, promoting both fairness and accuracy in terms of the findings.

As with all qualified RICS surveyors, Roger Hannah is listed on the RICS website as a sign of quality assurance.

What is the registered valuation scheme?

Key contacts

Jonathan Harrison

BSc (Hons) MRICS Registered Valuer

  • Director

Paul Lowe

BA (Hons) PGCertSurv MRICS Registered Valuer

  • Director

Why do I need a Commercial Property Valuation?

  • Commercial property valuations are carried out on behalf of private individuals, investors, companies, owner occupiers, banks and solicitors. 

  • First and foremost, property is both an asset and an investment, and so information regarding how much a property is currently worth can be required for several reasons. As a common example, as the value of property fluctuates over time, this may affect its rental potential or final sale price. 

  • In addition, here are some of the other reasons in which relevant parties may consider getting a commercial property valued.

Accounting & Financial Reporting

  • Property is one of the most important and expensive assets a business may own. An up to date valuation may therefore be required for accounting or financial reporting purposes. Depending on the individual case, the information may be released to company shareholders or the public which is why accurate information is required. 

Acquisition

  • When looking to acquire property, it’s imperative that potential investors fully understand the value of their potential purchase, especially when entering negotiations. 

  • The value will also affect potential rental yield and resale values among many other factors. 

  • Compared with an estate agent valuation, a RICS valuation carried out by a chartered surveyor will give an independent opinion.

Dilapidations

  • Commercial property dilapidations can either be on the side of the tenant or the building owner. In essence, dilapidations refer to the exit costs payable by the tenant to restore the property to its pre-let condition. 

  • While the nature of the works will vary significantly, two common examples of dilapidations are damage to the building or undoing any cosmetic alterations. 

  • With a rise in short-term lets especially, any aspect which means the building isn’t suitable for let due to its current condition can result in void periods for the building owner, and potential hefty costs to rectify the damage unless an agreement can be made between both parties.  

  • Some of the services that we can provide in relation to dilapidations include:

  • Schedules of condition

  • Interim schedules of dilapidations

  • Advice on repairs notice

  • Building contracts management

  • Final claim negotiations

Expert Witness

  • Expert witness property valuations are requested for court matters, inquests and tribunals to help identify the facts in a case. Operating in an independent capacity, expert witnesses can be called upon to produce expert witness reports or appear in court. 

  • Our expert witness services in relation to property valuations have been requested for litigation purposes, negligence claims, matrimonial disputes, rights of way, defects and restrictive covenants.

Inheritance Tax

  • A Royal Institute of Chartered Surveyors (RICS) Red Book Valuation is highly advisable for any estate which is likely to be subject to inheritance tax. Doing so will allow for the calculation of tax due to HMRC. 

Insurance Purposes

  • When obtaining an insurance quote for the building itself, insurers will require an accurate picture of the current worth of the property. This will also ensure that as a property owner, the amount of insurance you pay is fair. Whereas, a general guess could mean either you are overpaying, or the amount would not substantially cover you in the event you need to make a claim. 

Rental

  • Assessing both the current or potential rental income of a commercial property is a common reason why commercial property valuations are requested. Valuations may be carried out before the purchase of the property, or periodically during an existing tenancy. 

  • As with any other reason for carrying out an independent property valuation, it’s essential that property owners, investors and tenants alike are aware of the value of the building to be able to best manage all financial aspects relating to the business. 

  • Various factors may affect the rental income of a commercial space. These can include but are not limited to the usage of the building, the general appeal of the area, condition of the building, nearby parking, availability of local transport networks etc. 

Designated Advisor's Report

  • As expert chartered surveyors and property managers, we advise on a wide range of property matters. Generating Designated Advisor’s Reports is one of the many services that are requested by our clients to help ascertain the true value of a building, especially in relation to making a sound investment.