Valuations - Weighing up the 2015-16 Year

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News article

Valuations - Weighing up the 2015-16 Year

May 2016

valuations

As we have just come to the end of another financial year, it is now time to reflect on the year that has passed and take stock of the work that has been carried out. Starting each year with a blank slate, ready to go out and take on new instructions can be a little bit daunting, but when you look at the achievements of the previous year it is reassuring to see that workflow is going in the right direction, backed up by analysis of the year’s statistics.

Working on valuations is all about numbers; acres, square feet, quantity of buildings; amount of rent; number of years remaining on a tenancy; age of the building. All of these numbers feed into our final opinion on the most important number of all – the value. As a firm we carry out valuations of many different types of property; not just residential property for estate agency purposes. I work in the valuation department, providing ‘Red Book’ valuations, compliant with the Royal Institution of Chartered Surveyors (RICS) Valuation Standards. This is the type of work that is usually instructed in circumstances such as secured lending, property disputes, taxation such as inheritance or capital gains tax, and for divorcing couples, seeking to split their property assets. In other words, we talk about three sources of valuation instructions – death, debt and divorce. This could sound quite morbid, but we take pride in providing quality service to our clients and working with them at what can be a difficult time.

In the last 12 months, some highlights of properties valued includes; many lovely residential properties; development sites for conversions and new build properties; industrial units; an old windmill; offices; a sportsground; lots of agricultural land and farms; retail premises and equestrian properties to name just a few. We have travelled from Somerset to the West Midlands, and everywhere in between, as well as numerous instructions closer to home, covering a wide area from our Banbury office.

As a multi-disciplined office, our work will regularly involve more than one member of staff, this could mean the planning department advising on planning potential at a property or instructing a building survey to be carried out as part of a development valuation. Regularly the estate agency department will work with us when a property is likely to be put on the market after the grant of probate for example. This is an area of service that clients often appreciate as they know that Fisher German can offer the full range of services that they need, and will work collaboratively to achieve the best outcome for the client.

In the last twelve months we have received 80 different valuation instructions, which may include a number of different properties under one umbrella instruction. These 80 instructions have totalled just shy of £80 million worth of property. This is an increase of around 40% in volume when compared to the previous year and represents a significant area of work for the office. When I look at the list of instructions however, the most exciting thing from my point of view is to see just how many instructions are repeat business, which is a really positive number for the valuation department.

If you would like to discuss any valuation related matter, please contact Amy Hutsby on 01295 226296 or email here

Further information regarding our valuation serices can be found here

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