Commercial property valuations can be required for a variety of purposes; bank loans, reviewing the rent for a lease coming to an end or a standard rent review, pension purposes, portfolio valuations, probate or ‘marriage values’ where the landlord or tenant wants to buy the other party out to name a few.
Each of these valuations are potentially assessed on a different set of criteria. The valuation process itself can highlight other problems or advantages that may need to be addressed or considered further regarding the subject property.
It is important that we fully understand what you are hoping to achieve to ensure the correct basis of valuation.
We would be happy to have further discussions to support you finding the right solution.
Or look to the RICS for additional information https://www.rics.org/uk/upholding-professional-standards/sector-standards/valuation/
A development property is defined in the International Valuation Standards (IVS) as:
‘interests where redevelopment is required to achieve the highest and best use, or where improvements are either being contemplated or are in progress at the valuation date’.
Development projects can vary from single or multiple residential projects to industrial estates, shopping centres, other retail developments, offices and mixed-use developments.
Development property valuations are often complex, have a potentially high variation and incorporate optionality. They can relate to specialised markets and therefore require a high level of expertise.