Our Commercial Property Valuation Team is 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 and are therefore confident that we have our fingers on the pulse of the North West property market.
Commercial Property Valuations
Our advice provided predominantly to Banks, solicitors, investors, companies, owner occupiers and private individuals is provided in respect of:
Commercial properties are classed as spaces such as offices, warehouses, retail outlets, restaurants, industrial units, entertainment venues and much more. Typically requiring a higher capital investment to rent or purchase compared with residential property, building owners and all other parties with a financial interest in the property may require accurate information on its value.
Not only does the value of all property fluctuate over time, but there may be other circumstances that mean a valuation is required either for legal purposes or on behalf of investors. Therefore, a commercial property valuation carried out by a qualified chartered surveyor is highly recommended.
As one of the many services we provide to our clients here at Roger Hannah, commercial property valuations can provide extremely insightful information that can assist in a variety of financial matters.
- Loan Security
- Accounting / Financial Reporting
- Inheritance Tax (probate)
- Expert Witness
- Qualified Surveyor’s Reports
do you need a commercial valuation?
Our experts have extensive experience in the North West property market and our valuation reports provide a clear and in-depth market analysis tailored to your individual needs and supporting you to make sound strategic decisions.
Commercial Property Valuations
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:
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.
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.
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 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.
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.
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.
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.
As expert chartered surveyors and property managers, we advise on a wide range of property matters. Generating qualified surveyors 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.
Commercial Property FAQs
We understand that when it comes to a significant investment such as commercial property, you’re bound to have plenty of questions in terms of getting your asset valued.
We’ve answered some of the most commonly asked queries below to guide you. Don’t see your question below? Skip to the end of the page to view our contact information, and one of our commercial property valuation experts will be in touch.
Similar to any other type of property or land valuation, there are many factors that will be taken into consideration when coming up with a valuation for commercial property. While each property has varying criteria, some of the aspects we would consider are the property’s location, building usage, building condition, rental potential etc.
Strictly speaking yes, on the whole investors can generally achieve a higher rental yield and overall increased ROI with commercial property versus residential property. Though, commercial property typically requires a higher level of capital investment.
As always, we can only give you a definite answer after viewing the property and giving you a full report on our findings, as there are a lot of factors to consider when determining a valuation. We also offer residential valuations and land valuations as part of our comprehensive range of services. So if you’d like professional advice on any type of property or land valuation, our experts are ready and waiting to help you.
Absolutely. Please head over to our Manchester commercial property for sale page, where you’ll find a regularly updated list of properties for sale or to let across the North West.
Or, jump ahead to a particular category by clicking one of the following links:
- Development properties Manchester
- Industrial units Manchester
- Investment property Manchester
- Offices Manchester
- Residential property Manchester
- Retail units Manchester
If you have a specific property search in mind, please give us a call on 0161 817 3399, or email us at firstname.lastname@example.org.
Alternatively, we can also set up alerts for property types or locations, so that you’re always kept in the loop about up and coming commercial property for sale and lettings in your area.