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  • Service
  • Land & Development Valuations

Land & Development Valuations

T: 0161 518 8677

E: valuation@roger-hannah.co.uk

 

Having one of the Regions largest Development Consultancy Teams in the North West, Roger Hannah has its finger on the pulse of this market.  Working extremely closely with land owners, developers and registered providers in acquiring and disposing of development land in addition to preparing viability appraisal, our Valuation Team has access to real time market evidence ensuring that our development appraisals and valuations accurately reflect both macro and micro market forces.

Our advice provided in respect of land can be required in respect of:

  • Acquisition / Disposal

  • Loan Security

  • Accounting / Financial Reporting

  • Inheritance Tax (probate)

  • Strategic

  • Expert Witness

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

Key Contacts

Paul Lowe

BA (Hons) PGCertSurv MRICS Registered Valuer

  • Director

Key Contacts

Accounting

  • When completing company accounting, the valuation of any assets the company owns may need to be declared including any land. As accounting must be accurate for financial and legal purposes, an independent valuation will ensure due diligence.

Acquisition or Disposal

  • As an asset to either be sold or purchased, landowners or potential investors naturally want to know what the land is worth so that an informed financial decision can be made. In some cases, landowners may wish to wait for the land value to appreciate, or they may require advice on the potential usages based on its condition or status (i.e brownfield sites versus greenbelt sites).

Development

  • Land that is currently occupied or yet to be built on has the potential to be developed on, depending on its status. To know whether a piece of land is a viable development opportunity, obtaining a valuation will offer clarity for landowners, developers, local councils and investors alike. Crucially, there may be a large difference between the value of the land and its purchase price without such information.

  • Taking real estate developments as an example, vacant land is often purchased for new housing or commercial developments. Therefore, a developer would want to calculate their return on investment based on the cost of the land as well as the cost of building the property as part of a comprehensive overview of the costs involved.

Expert Witness

  • An expert witness is an individual who is called to court to provide independent, unbiased expertise relating to ongoing court proceedings. In terms of land valuations, our expert witness services can inform a court of the valuation of the land so that the judge and jurors can consider our findings as part of their evidence.

Inheritance Tax (Probate)

  • Calculating the estate of a deceased person must take into account all of their assets which may include land. A land valuation for probate may be required for the following reasons:

  • Obtaining the value of the estate is needed for the probate application

  • To calculate whether inheritance tax needs to be paid and if so, how much

  • To calculate any capital gains tax, which takes into consideration the value of the land compared to when it was originally purchased

  • To ensure that any outstanding debts can be paid and any remaining funds are correctly distributed to any beneficiaries

Loan Security

  • When seeking a loan either within a personal capacity or to secure more funds for a business, lenders often require security in the form of property or land. If the land has any significant value, then it may be used to secure the loan in addition to or in place of other assets.

Market Value Fluctuations

  • The market value of all land is subject to fluctuations, which could be a result of nearby developments or inflation.

  • So while any of the above reasons will factor in the current market value of the land, another purpose for obtaining a valuation could simply be to see if the land has increased or decreased in value since it was first purchased.

  • The information could then be used to decide whether the land should be left to increase in value before selling, or whether now would be the right time to capitalise on your investment.

How we work out the value of the land

  • How we value land is by using our expertise as chartered surveyors and property experts to determine an accurate figure for our clients. Similar to valuing property, there are a number of factors that will be considered before we arrive at a valuation figure for a piece of land. Some common considerations include:

  • Land location

  • Plot size

  • Plot condition

  • Plot classification

  • Any nearby points of interest

  • Potential usage including any planning approval sought

  • Example: Vacant land in Manchester City Centre that has planning permission for a residential or commercial development would likely possess a significant value. That’s because the area is in high demand and the usage possibilities would generate multiple opportunities for income.

  • Land values are also going to be dependent on the types of usage potential the land possesses. In addition, how much work would be involved to make the land usable. Inflation as well as any similar aspects that have the potential to increase or decrease the valuation of the land will also be considered so that we arrive at a figure that is both accurate and independent.