Services
Commercial Property Valuations
Whether you own or are looking to buy offices, industrial buildings, factories, shops, development land or any type of commercial property, Brent Forbes Chartered Surveyors can help you by providing an expert Commercial Property Valuation Report.
Trusted for our specialist RICS skills and training, years of experience and commercial property market knowledge, commercial clients and professional bodies rely on Brent Forbes Chartered Surveyors for their professional, friendly advice in respect of:
- Rent reviews and lease renewals
- Probate and Inheritance Tax Valuations
- Valuation for company accounting purposes
- Company sales and buy-outs
- SIPP and SSAS Pension Fund valuations
- Partnership disputes and changes
- Matrimonial and divorce valuations
- Taxation – Capital Gains and Inheritance Tax
- Expert Valuation Reports for litigation
- Diminution in Value (Section 18 valuations) for dilapidations purposes
- Valuations for Capital Allowance purposes
SIPP and SSAS Pension Fund Valuations
Our pension valuation service provides all types of property valuation from SIPP (Self-Invested Personal Pension) and SSAS (Small Self-Administered Scheme) to pension fund valuations. We can work with your purchase for any commercial or residential property using a SIPP of SSAS fund.
A SIPP (Self Investment Personal Pensions) is a way to save for retirement.
They take the control away from pension companies and the government and allow the person to control where the money goes and how it grows. You control the investments.
In essence, they are a do-it-yourself pension and usually involve investing in commercial property which generally require initial and 3-yearly valuations.
A SSAS (Small Self-Administered Scheme) is a pension scheme normally set up by a Limited Company or private family who set up a SSAS for the benefit of the owner, company directors and family, and can benefit from generous tax relief, often investing in a commercial property form part of a mixed investment portfolio and the HMRC will require an independent RICS Red Book Valuation.
We offer an RICS Red book valuation service on all property invested as part of a SIPP. This can be done before or after an offer has been made. The valuation we give you can then be used to make sure that you are making the right investment for you and for the pension administrator.
Making sure that a property’s value is worth the investment is an essential part of having a SIPP. Our reports can give a comprehensive overview of what the building or site is worth and make sure that any rents you pay are suitable.
Rent Review and Lease Renewals
Whether the lease is approaching its end date or there is a provision for a rent review partway through the term, this is where we can assist.
Tenants Advice
The terms of the lease will usually stipulate how the rent is re-valued, for example to the Market Rent, or linked to RPI increases etc, and should also specify the procedure for initiating and concluding the review.
After interpretation of the clause, we are able to re-negotiate on a tenant’s behalf, helping to secure the best possible terms for their ongoing business needs.
Landlords Advice
Usually, we work with a landlord from the outset, carrying out an initial rental assessment to provide a suggested level of rent, negotiating the lease with the incoming tenant and then working on the landlord’s behalf during the lease renewal process.
We would normally advise a Landlord or Tenant to begin to consider the renewal of a lease 6 – 12 months prior to its expiry date. This will allow enough time to take the correct action in order to protect their position and also to ensure that the appropriate Notices are served within the required timescales.
Probate and Inheritance Tax Valuations
After an individual has passed away, it will usually be necessary for the deceased person’s family to ascertain a value for their money, assets and possessions (also known as their estate). Where an estate includes property, a Valuation Report will usually be required as part of the Probate process.
The purpose of the report is to confirm the value of the property/properties at the date of death of the deceased person so that the total value of the estate can be ascertained and any Inheritance Tax liability can be calculated. Only after this point can Probate be granted and the properties/assets be distributed as per the deceased’s wishes
Matrimonial and Divorce Valuations
When a married couple decide to divorce it will be necessary to ensure that a fair financial settlement is reached. As the matrimonial home is usually a significant asset, its value will need to be agreed. If any other properties are owned, these too will need to be valued to help establish a fair way forward.
Brent Forbes can assist by providing a Property Valuation Report to help decide how the matrimonial home, and any other jointly owned property assets (including commercial properties), should be divided between the parties involved in divorce proceedings.
The Property Valuation Report includes a site visit to the property and usually involves an internal and external inspection. After taking into consideration a number of attributes such as the size, condition, specification and location of the property, and using their local knowledge alongside evidence of comparable sales, an accurate impartial Valuation is determined.
For more information on our expertise in this area or to instruct the services of our RICS Registered Valuers to assist in valuing property for the purposes of financial settlement following divorce, please get in touch.
Land Valuations
Land can be a valuable commodity – especially if there is an interest in developing it into housing.
There are two recognised approaches to the valuation of development land:
- Comparison with the sale price of land for comparable development;
- The residual method – which involves an assessment of the value of the scheme as completed and deduction of the costs of development (including developer’s profit) to arrive at the underlying land value.
In practice, a combination of both approaches will usually be used to reach a land valuation.
With many variables to consider, especially with more complex sites, valuing land isn’t a straightforward process. It is essential to instruct a Chartered Surveyor who is well qualified and has the relevant experience. We are particularly well placed to advise both landowners and developers on land transactions.
Whether owned personally or commercially, properties are valuable assets and any decision you make, be that regarding a sale, purchase, rental or lease, is potentially significant.
