Valuations
Valuation is at the heart of our property services since it underpins all property transactions and ownership.
Property Valuation Services
Expert valuation advice from one of the largest teams of RICS Registered Valuers in the South West.
Valuation services across the South West
Valuation is at the heart of our property services, underpinning property ownership, finance and transactions.
Our experienced team provides commercial, residential and specialist property valuations for banks, developers, investors, property companies, charities, pension funds, professional advisers and private clients.
Operating from offices in Truro, Plymouth, Exeter and Bristol, we combine detailed local knowledge with expertise across the wider South West. We value a diverse range of property, from individual assets to substantial portfolios.
Our advice is prepared for a wide variety of purposes, including:
- Secured lending;
- Taxation and probate;
- Pension funds;
- Financial reporting and company accounts;
- Acquisition and disposal;
- Lease extensions and enfranchisement;
- Matrimonial and other property disputes;
- Expert witness proceedings;
- Compulsory purchase and compensation; and
- Strategic property decision-making.
We value mainstream commercial and residential property alongside specialist assets within the development, healthcare, hospitality, leisure and investment sectors.
Why choose Vickery Holman?
Our valuation team includes experienced RICS Chartered Surveyors and RICS Registered Valuers located throughout the South West.
Our regional coverage gives us access to extensive property market evidence and strong relationships with agents, lenders and other property professionals. We draw upon the knowledge of our wider agency, lease advisory, development, building surveying and property management teams where appropriate.
This collaborative approach enables us to provide independent, practical and market-facing valuation advice. We do more than provide a figure: we explain the evidence, methodology, assumptions and property-specific considerations supporting our opinion.
Our Valuation services
Charities Act Valuations
We provide valuation advice to charities and trustees in connection with the sale, transfer or letting of charity property.
Our RICS Registered Valuers can prepare reports that comply with sections 117–121 of the Charities Act 2011, as amended by the Charities Act 2022, and the current regulations governing disposals of charity land.
We also provide independent acquisition and strategic property advice to charities, helping trustees understand the property’s value, the relevant market and the terms of a proposed transaction.
Commercial Property Valuations
We value offices, retail premises, industrial units, warehouses, mixed-use properties and commercial investments throughout the South West.
Our commercial valuations are provided for purposes including secured lending, acquisition and disposal, taxation, pension funds, financial reporting, restructuring and dispute resolution.
We work closely with our commercial agency and lease advisory teams, giving us access to current transactional evidence and an informed understanding of local occupational and investment markets.
Compulsory Purchase & Compensation
Compulsory purchase can have a significant effect on property owners, occupiers and businesses.
We advise parties affected by Compulsory Purchase Orders and other public works. Our services include:
- Reviewing the effect of a proposed scheme;
- Responding to statutory notices;
- Submitting objections;
- Assessing the value of land and property acquired;
- Assessing diminution in value;
- Preparing and negotiating compensation claims;
- Negotiating acquisitions by agreement; and
- Providing expert evidence where required.
In many cases, the reasonable cost of obtaining professional advice may be recoverable from the acquiring authority. We recommend seeking advice as early as possible.
Expert Witness & Dispute Valuations
We provide independent valuation advice in connection with a wide variety of property disputes.
Our experience includes:
- Matrimonial and family proceedings;
- Partnership and shareholder disputes;
- Professional negligence claims;
- Restrictive covenants;
- Rights of way;
- Boundary and property ownership disputes;
- Diminution in value;
- Section 18 valuations relating to dilapidations;
- Leasehold disputes; and
- Disputes concerning the acquisition, disposal or occupation of property.
We can act for one party, as a Single Joint Expert or as an independent expert, depending upon the circumstances and instructions received.
Where expert evidence is required for court or tribunal proceedings, our reports are prepared in accordance with the applicable procedural rules and our overriding duty to the court or tribunal.
Members of our wider dispute resolution team can also act as mediators, arbitrators and independent experts where appropriate.
Lease Extensions & Enfranchisement
Lease extensions and enfranchisement are specialist areas requiring an understanding of the relevant legislation, valuation methodology and negotiation process.
We act for both freeholders and leaseholders in connection with:
- Statutory and negotiated lease extensions;
- Collective enfranchisement of blocks of flats;
- Enfranchisement of leasehold houses;
- Freehold acquisition;
- Negotiation of the premium payable; and
- Proceedings before the First-tier Tribunal (Property Chamber).
We can provide initial valuation advice, negotiate with the opposing party’s surveyor and prepare expert evidence where a matter cannot be agreed.
As leasehold legislation continues to evolve, we recommend obtaining advice at an early stage so that the appropriate statutory or negotiated route can be considered.
Hotels, Hospitality & Leisure Valuations
Trade-related properties require specialist valuation knowledge and an understanding of both the property and the underlying business.
We value a broad range of hospitality and leisure assets, including:
- Hotels and guest houses;
- Public houses, restaurants and cafés;
- Holiday parks and caravan sites;
- Holiday complexes and visitor attractions;
- Licensed premises;
- Convenience stores and post offices; and
- Other trading properties.
Depending upon the property and purpose of the instruction, we can consider trading performance, Fair Maintainable Turnover and Fair Maintainable Operating Profit, property-specific risks and alternative-use potential.
We act for lenders, owners, purchasers, investors and professional advisers in connection with secured lending, acquisition, disposal, taxation, pension and dispute-related valuations.
Pension Valuation
We undertake pension valuations for several SIPP and SSAS providers (pension providers) including Curtis Banks and Standard Life.
Residential Property Valuations
We provide valuations of a wide range of residential property, including:
- Townhouses and apartments;
- Cottages and farmhouses;
- Period and listed buildings;
- Contemporary coastal homes;
- Country houses and estates;
- Residential investments;
- Houses in Multiple Occupation;
- Holiday-let properties;
- Properties with annexes or additional accommodation; and
- Freehold and leasehold interests.
Our residential valuations are prepared for taxation, probate, secured lending, matrimonial proceedings, leasehold matters, acquisition, disposal and other legal or financial purposes.
A valuation is different from an estate agent’s market appraisal. It provides an independent and reasoned opinion prepared for a defined purpose and, where applicable, in accordance with RICS valuation standards.
Secured Lending Valuation
A reliable valuation is a fundamental part of the property lending process.
We act for major high street banks, challenger banks, private banks, specialist lenders and peer-to-peer lenders. We are represented on more than 30 lending panels and regularly value individual properties, development sites, investment assets and portfolios for loan security purposes.
Our team understands the requirements of lenders and the importance of providing thorough, clearly reasoned reports within agreed timescales.
Tax, Trusts & Accounts
We provide current and retrospective valuations for a variety of tax, trust and accounting purposes. These include Capital Gains Tax, Inheritance Tax, probate, Stamp Duty Land Tax and financial reporting.
Our role is to provide an independent opinion of value. Clients should obtain separate advice from their accountant, solicitor or tax adviser regarding their individual tax position.
Healthcare Valuations
Our team provides specialist valuation advice across the healthcare sector, including medical centres, surgeries, pharmacies, care homes and other purpose-built or adapted healthcare premises.
We understand healthcare property can be affected by operational requirements, specialist fit-out, regulation, occupational arrangements and the underlying trading performance of the business.
Development Valuations
We value residential, commercial and mixed-use development opportunities, from individual building plots to larger development schemes.
Our work may include an assessment of the completed development value, development costs, profit requirements, planning considerations, delivery timescales and market risk.
We also provide retrospective and current valuations of development land for taxation, secured lending, financial reporting, acquisition, disposal and dispute resolution.
Investment & Portfolio Valuations
We value individual investments and portfolios containing commercial, residential, mixed-use and specialist property.
Our analysis considers the occupational leases, passing and market rents, lease events, covenant strength, void risk, capital expenditure requirements and relevant investment market evidence.
We can provide valuations for secured lending, financial reporting, pension funds, acquisition, disposal, restructuring and strategic asset management.
Capital Gains Tax
A property valuation may be required when calculating a potential Capital Gains Tax liability, particularly where a property:
- Has been gifted or transferred;
- Was sold or transferred at an undervalue;
- Was inherited;
- Was acquired before 1 April 1982; or
- Requires a value to be established at another historic date.
We provide retrospective valuations using market evidence available at the relevant valuation date. Where necessary, we can respond to subsequent valuation enquiries raised by HM Revenue & Customs or the Valuation Office Agency.
Inheritance Tax & Probate
An independent property valuation is commonly required when administering an estate or establishing a potential Inheritance Tax liability.
Our RICS Registered Valuers provide retrospective opinions of Market Value as at the date of death. We can value individual properties, portfolios, land, business premises and partial ownership interests.
Where a property is owned jointly or as a fractional interest, we can consider whether the interest being valued differs from a straightforward proportion of the value of the whole.
We can also assist with subsequent enquiries raised by HM Revenue & Customs or the Valuation Office Agency.
Stamp Duty Land Tax
We provide property valuations and just and reasonable apportionments for Stamp Duty Land Tax purposes.
Our work can include transactions involving:
- Mixed-use property;
- Principal dwellings and subsidiary accommodation;
- Self-contained annexes;
- Additional land and gardens;
- Commercial and residential elements;
- Transfers between connected parties; and
- Transfers of part-interests in property.
The appropriate SDLT treatment is a legal and taxation matter. Our valuation provides the property evidence and apportionment required to support advice from the client’s solicitor or tax adviser.
Trust & Financial Reporting Valuations
We undertake valuations for trusts, financial statements, company accounts, restructuring and internal asset reporting.
Our reports can address individual properties or portfolios and will identify the appropriate valuation basis, valuation date and reporting requirements at the outset.
Key Contacts
Our Valuation Process
Every instruction is different, but our work will generally include:
- Discussing the property, purpose and required valuation date;
- Completing conflict-of-interest and independence checks;
- Agreeing the scope, fee and terms of engagement;
- Inspecting the property;
- Reviewing relevant leases, title information, planning records and other documentation;
- Researching and analysing appropriate market evidence;
- Applying the relevant valuation approach or methodology; and
- Providing a clearly reasoned written report.
We will explain at the outset what information is required and the anticipated reporting timescale.
Valuations Case Studies
Valuation FAQs
What is an RICS Registered Valuer?
An RICS Registered Valuer is a suitably qualified surveyor who is registered under the RICS Valuer Registration scheme.
Registered Valuers are required to follow applicable RICS professional and valuation standards, undertake appropriate continuing professional development and comply with RICS monitoring requirements.
Using an RICS Registered Valuer provides reassurance that the valuation will be prepared independently, professionally and in accordance with recognised standards.
What is a Red Book valuation?
A Red Book valuation is a formal valuation prepared in accordance with the RICS Valuation – Global Standards and applicable UK national requirements.
The Red Book establishes mandatory professional, ethical and technical requirements covering matters such as independence, terms of engagement, investigations, valuation approaches, assumptions and reporting.
A Red Book valuation is often required for secured lending, taxation, probate, pensions, financial reporting and legal proceedings.
Why do I need a valuation on my commercial property?
You may need a valuation on your commercial property because you need an impartial opinion for mortgage or lending purposes, or because you plan to sell or let your property. There are many reasons why you would want to have a valuation but you should use a registered RICS Valuer to ensure you receive the highest professional level of service.
The most common reasons for a commercial property valuation include:
- Assessing the value to put the property on the market
- Reassuring a buyer or tenant that the price/rent you are charging is reasonable and inline with market values
- For a mortgage underwriter, so they know your property is worth the money they are lending
- For compulsory purchase
- Valuing assets as part of liquidation, merger or acquisition
How is a commercial property valued?
The appropriate approach depends upon the property, its occupation and the purpose of the valuation.
A commercial property may be valued using:
- The comparable method;
- The investment method;
- The profits method;
- The residual method;
- The depreciated replacement cost method; or
- A combination of approaches.
The valuer will analyse relevant market evidence and consider factors such as location, accommodation, condition, tenure, leases, rental income, covenant strength, development potential and market demand.
What are the most important factors in a valuation?
The most important factors in a valuation are;
- Who carried out the valuation? Using an RICS Registered Valuer will give you a professional, impartial opinion
- Market Values in the region
- Location
- Current purpose of the land/property and potential development options
- Condition of the land/property
There are many factors that impact on a valuation, so please contact us to talk to an RICS Registered Valuer in your area. We have 22 Valuers across the South West.
What is a lending panel?
A lending panel is a list of approved firms who can act on behalf of a particular mortgage provider or lender. Those providers or lenders will only accept valuations from approved valuation companies, like Vickery Holman.
We are on the panel for most of the main high street lenders, as well as more specialist lenders for residential or commercial properties.
Which areas do you cover?
Our valuation team operates throughout the South West from offices in Truro, Plymouth, Exeter and Bristol.
We regularly undertake valuations across Cornwall, Devon, Somerset, Dorset, Bristol and the surrounding areas. We may also accept instructions further afield where we have the appropriate market knowledge and expertise.
How can I get a valuation on my commercial property?
RICS Registered Valuers are the recommended route for an impartial, informed valuation on your commercial property. Contact our valuation team for advice on what valuations we can provide. Vickery Holman has one of the largest team of RICS Registered Valuers in the South West with over 20 valuers. Our team benefit from in-depth local knowledge as well as our shared regional knowledge.
Is a valuation the same as a building survey?
No. A valuation provides an opinion of value for a specified purpose. It is not a detailed assessment of the building’s construction or condition.
A valuer will consider matters that are visible and relevant to value, but will not normally test services, inspect concealed areas or provide the level of technical investigation included within a building survey.
Where detailed advice on condition, defects or repairs is required, a separate building survey may be appropriate.
Is a formal valuation the same as an estate agent’s appraisal?
No. An estate agent’s appraisal is generally provided to advise on a potential asking price as part of marketing a property.
A formal valuation is an independent and reasoned opinion prepared for a defined purpose and valuation date. It is supported by appropriate evidence and, where required, prepared in accordance with RICS valuation standards.
What information will you need?
The information required will depend upon the property and purpose of the valuation. It may include:
- Title documents and plans;
- Leases, licences and tenancy agreements;
- Planning permissions;
- Floor areas and building plans;
- Trading accounts;
- Service charge information;
- Details of proposed or completed works;
- Information concerning rights, restrictions or disputes; and
- The details of your solicitor, accountant or lender.
Providing this information promptly can help avoid delays and ensure that the report addresses the relevant circumstances.
How long does a valuation take?
The timescale will depend upon the nature of the property, the purpose of the valuation and the availability of the required information.
We will provide an anticipated inspection and reporting timescale when issuing our fee proposal and terms of engagement. If a valuation is required urgently, please let us know when making your enquiry.
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Speak to our valuation team
Whether you require a valuation for lending, taxation, probate, a pension fund, a property transaction or a dispute, our team would be pleased to discuss your requirements.
Contact us to speak with an RICS Registered Valuer or request a quotation.