Whether you’re a buyer or busy portfolio holder, knowing the value of a commercial property holds the key to all subsequent negotiations.
At Garness Jones, our RICS-registered valuers ensure your assets are accurately valued using the universally-recognised standard for valuation reports, issued and governed by RICS and known as The Red Book – Red Book Valuations.
Clients turn to us time and again to draw on our experience of conducting commercial property valuations across Yorkshire and Lincolnshire, tapping into our local knowledge and network of research analysis.
However, there are a wide range of Commercial Property Valuations and choosing the right one for your needs is important.
Our professional team of Chartered Surveyors can act on behalf of private individuals or businesses – and will help determine the current market value of any building or development site.
To book a property assessment, call 01482 564564 – or read on to find out more about the valuation services we offer.
What are the different types of property valuations?
Commercial Property Valuations for Market Fluctuations: Encouraging owners to ‘rebase’ their portfolios, so they reflect current market values, is an important part of managing property assets, and in light of the Covid-19 crisis you may justifiably be concerned about the possible impact on property values. Should you choose to do this, any future calculations used for capital gains could be more favourable. In some circumstances, this could also protect owners from HMRC challenges after future disposals.
Commercial Property Valuations for Strategic Asset Planning: Revaluing a property is something many overlook, but a process often worth doing. It can enable owners to enjoy immediate financial benefits by unlocking value and potential in line with their long-term management strategy. It can also help to save money by minimising abortive expenses.
Commercial Property Valuations for Secured Lending: Lenders usually require a valuation if you want to secure a business loan against a property’s value so they know it provides adequate security. If the lender knows they can realistically recoup the amount borrowed (should the worst happen), it can help speed up the process of securing finance for investment.
Commercial Property Valuations for Tax Purposes: If you’re a commercial property owner who doesn’t know the true market value of your assets, it could have severe tax implications. We carry out detailed valuations for a variety of tax purposes – including share transfers, inheritance tax, stamp duty land tax, income tax, corporation tax and Capital Gains tax. Conducted by our RICS valuers, this report can be used as evidence if the figure is ever challenged by HMRC to prevent future tax penalties or issues. We can also engage with HMRC on your behalf if it is challenged.
Commercial Property Valuations for Pensions: All sorts of property valuations are carried out on behalf of pension funds and Self Invested Personal Pensions (SIPP) as it may be needed to assist with bank lending, management buy outs or in the event of a matrimonial dispute.
Commercial Property Valuations for Probate: Acting on behalf of the Will executors, a Registered Valuer will accurately analyse the value of any property asset or land on the date of death (widely known as ‘the date of transfer’) for probate purposes.
At Garness Jones, we can assess any type of residential or commercial property (houses, bungalows, flats, commercial properties and land) to deliver a considered professional opinion in accordance with the RICS Red Book standards.
This detailed, evidence-based report will help you to comply with all the demands of HMRC during the probate process and determine what tax may be payable.
Commercial Property Reinstatement Estimates: Having a building covered for the full reinstatement cost is essential – for insurance purposes and peace of mind. Should a catastrophe strike and damage a building, adequate cover will negate any fears of being under-insured. We are experienced at providing Building Cost Reinstatement figures, from premises like small retail units to office blocks, flats and houses and factories.
In our experience, the property’s market value or the purchase price paid by the owner is often used with potentially disastrous consequences as there can be huge differences between this and the reinstatement cost for insurance purposes, especially in an area known to have below national average market values.
A reinstatement cost should also factor in architect fees, surveyor fees and debris removal costs, external features such as boundary walls and car parking areas – which can dramatically affect matters.
Why choose us for a Commercial Property Valuation?
Whether you have a large or small portfolio, our highly-experienced team of Chartered Surveyors and Registered Valuers would be happy to asses and value your commercial property.
We are experienced in all areas of commercial property – from industrial and residential investments to development sites.
Our approved panel of RICS valuers can use the traditional market value and comparable valuation method or conduct appraisals on a depreciated replacement cost basis.
From our HQ in Hull, we frequently travel across the Humber area – visiting properties and clients in the East Riding and throughout North East Lincolnshire.
We completely understand the local market and our core appraisal service includes:
It does not matter if you’re a developer, owner or seller, we can help achieve maximum value from your property investment.
To benefit from impartial valuation advice you can trust, call 01482 564564 or email our Professional Services team and arrange an informal discussion.
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Call: 01482 564564
Email: info@garnessjones.co.uk
For any accounts related queries, please direct your email to cmaccounts@garnessjones.co.uk
Information
Garness Jones is a trading name of Garness Jones (Commercial) Limited, registered in England and Wales – Registration No. 13088669
The company is registered for VAT under reference 372 9009 88. Their registered address is Riverside House, 11-12 Nelson Street, Hull, East Yorkshire, HU1 1XE.
