Property Survey Services
We can discuss your requirements in English, Persian or Arabic – Please indicate your preference in the contact form below.
Freehold and Leasehold Valuations
We can provide detailed valuation reports to RICS Global Standards for all property types and for all purposes:
We regularly provide commercial property valuation reports for various purposes including: freehold and leasehold interest valuations, development appraisals, acquisition and disposal.
Our advice, appraisals and valuations are always based on current and objective market evidence. We are experienced in valuing different types and sizes of properties including: shops, offices, garages, loft spaces, land, gardens, schools, warehouses, hotels, restaurants, churches and surgeries.
PROPERTY VALUATION BASIC REPORTS
A valuation report is a brief report that involves an inspection but not a survey of the property. It is based on a limited inspection, and it is advisable not to rely on it solely in making a decision on whether or not to purchase a property. It will not involve reporting on disrepair items unless they are essential enough to affect value or saleability. Our valuation reports are adequate if you only require information about the property value and do not require detailed information about the condition of the property.
Mortgage Valuation reports basically provide the lender with the type of construction, general condition, locational issues, other specific lender requirements, and a valuation to enable the lender to make a decision on whether or not to lend on the property.
Property sale or purchase
We can search and advise on the acquisition of commercial property. This can be for rent or to buy.
Our specialist team of property experts have the industry knowledge, years of collective experience, and the passion required to carry out competent and professional property valuation services.
As an experienced building valuation and property surveyor, our team is dedicated to providing the best UK property services available to each and every one of our clients. We understand and recognise the importance of correct and accurate property valuation and the knock-on effects our services can have on our clients. That’s why we always aim to meet and exceed client expectations, listen and collaborate when it comes to their vision and requirements, and provide customer service that is second to none.
When you are looking to purchase or rent a property, whether it is residential or commercial a survey is an essential part of the acquisition process. A valuation survey will perform for you, so that you know that you are paying the correct rent or purchase price for the property. This will help you going forward whether it is to sell on or assign your lease, or even for the future for rent reviews or lease renewals. It is very easy to agree an asking rent without knowing the true value of a property and even a small amount of say £1,000 per year may seem insignificant initially, however, if you end up staying at the property for 15 years it would add up to quite a large sum of money.
Whether buying or selling any type of commercial or residential property you will have peace of mind if you have an independent valuation carried out. By doing so this can result in a saving of substantial sums and you can rest assured that the property you have purchased is sound and at the correct value.
With commercial properties such as factories, warehouses, shops and offices it is very easy to agree terms without taking professional advice and this can result in future problems. For the sake of the fee to have a professional inspection to be advised about the property this can ensure that you are not committed, to a long term rental, in excess of market terms and that you have ensured that the transaction is based upon the best available terms.
There are many different types of surveys and valuations that can be carried out for a potential purchaser or tenant some of which are as follows:-
- Commercial/Residential valuation report
- Rental Valuation
- Schedule of Condition
- Schedule of Dilapidations
- Rent Review/Lease Renewal
- New Developments
- Planning Application
- Development Sites
- Industrial Survey
- Retail/shop surveys
- Office Surveys
Rent and Lease Review Services
We can provide assistance and advice to both tenant or landlord:
New Lease negotiations
We provide advice to those taking on a commercial lease. We look at lease terms, rent, condition of the property and repairing obligations. Seeking the advice of a chartered surveyor is generally recommended when taking on a new commercial lease.
The Landlord and Tenant Act 1954, Part II (as amended) provides security of tenure to tenants of business premises and a right of compensation at the end of the tenancy. The Act enables the tenancy to automatically continue upon the expiry of the term, requires a landlord who desires possession of the premises to establish one or more grounds stipulated in section 30 to the satisfaction of the Court, and it also provides the tenant with the right to apply for a new tenancy.
We have considerable expertise of dealing with lease renewal cases. We undertake valuations to determine the current market rent and we undertake negotiations with the tenant or landlord or their representatives. In instances where an amicable negotiated settlement cannot be reached, we would prepare and present oral and written evidence and submissions to the Courts regarding the lease renewal and interim rent. If appropriate and in order to save time and save costs we will assist in referring the rent decision and also make submissions to an Arbitrator or make use of the PACT service.
Our initial report will include the current open market rent and it will have full regard to the terms of the lease together with any relevant licenses such as deeds of variations or licenses for alterations and improvements.
Our report will include advice on the appropriate timescales as well as our recommendation of the strategy to adopt. For instance, if the current rent being paid is higher than the current open market rent, then it may be advantageous for the landlord to allow the tenant to continue to hold over at the existing higher rent as opposed to terminating the lease and initiating the lease renewal process. Consideration should always be given to renegotiating the terms of the new lease as opposed to allowing the new lease to continue on the same terms as the expiring lease. However, compensation may have to be paid to the affected party.
Opting out of the security provisions of the Act is possible but it grants the landlord with a considerable advantage as the tenant will not have the statutory right to remain in occupation upon expiry of the lease. At renewal stage, the tenant might have to accept the Landlord’s terms or vacate the premises.
We utilize the comparable evidence and recent and historic transaction details on our vast internal database and other external databases that are at our disposal as well as case law to undertake our valuations and negotiations.
A commercial lease is a document setting out the contractual relationship between the landlord and the tenant. The content of the lease will vary depending on the property type. The period of time for which a commercial lease is granted will vary depending on the nature of the letting and the requirements of the landlord and tenant. Rarely are they granted for more than 25 years.
The key areas covered in a lease are the length of the lease, rent and other payments to be made by the tenant, service charge, repairs and decoration, alterations, use and dealing with the tenants’ interest in the lease.
The term of a commercial lease can be extended. Business leases normally restrict the tenant’s ability to deal with the lease. Often a tenant will not be able to sell, sublet, share occupation or grant security over the lease without the landlords consent. For more advice on this matter, please contact one of our specialist team.
A rent review provision in a commercial lease can be very complex and needs careful consideration for a tenant or landlord.
Commercial property leases can vary in length; from a few months to many years. In order for the lease to remain commercially viable, a provision should be in place for the rent to be increased as and when appropriate. Negotiations around this is essential as both the tenant and the landlord will have opposite objectives.
The most common type of rent review in England is the open market rent review. Market rent relates to the rent that the property could bring in on the normal open market. Rent reviews can take place at intervals agreed between the landlord and tenant when the lease is entered into.
Call us now on 0203 970 0111 to discuss your
requirements with one of our qualified surveyors.