Commercial property valuation is an important step towards securing a safe and tangible real estate deal.
Ensuring that the correct valuation techniques are implemented is crucial, because it provides the most accurate estimate price at which the property might be sold.
Making investment in property is an attractive option because the likelihood will be that you make a good return from it. Commercial property surveyors will be able to give you the right value in a timely and professional manner, helping you reap from the benefits in return.
What are the benefits of commercial property valuation?
1. Company account purposes
One of the main benefits of getting a commercial property valuation is that they can be extremely useful for company account purposes. Unlike other assets, land and buildings are required to be valued to current market value – meaning that an up-to-date valuation can save you both time and money when dealing with clients.
2. Secured loans
Businesses looking to secure funding from a bank will almost certainly be required to have their premises looked into for security purposes. Small businesses looking to progress and get a loan will benefit from a property valuation as it will give lenders an idea of the current market value of the premises and lend accordingly.
3. End of lease repairs
There are several instances where you may not own your premises, but rather a lease which you pay to a landlord. When that lease expires however, they may try to make a claim for repairs depending on the repairing liabilities, with the amount they can claim limited by Section 18 (1) of the Landlord and Tenant’s Act 1927.
This ensures that they cannot claim for repairs for more than the property value has decreased. For example, if the repairs cost £10,000 but the value has dropped to £5,000, then they will only be able to claim up to £5,000.
4. Stamp Duty
When ownership of a property or a share of it is to be transferred, a value has to be assigned in order to assess the amount of Stamp Duty to be paid to the Inland Revenue.
5. Capital Gains Tax
If you decide to sell your premises, the Inland Revenue will require a formal written valuation in order to calculate any Capital Gains Tax due. Having your property valuated will make this a smooth and short process.
Here at Pearson Ferrier our professional surveyors can give you a detailed inspection, whereby they will assess every last detail of your home. Every room, structure and improvements will be taken into consideration – both inside and out – to ensure your property is given a true and accurate valuation.
Get your FREE commercial property valuation with Pearson Ferrier
As one of the largest commercial property agents in North Manchester and Lancashire, Pearson Ferrier understands just how important the valuation process can be.
If you’re looking to buy, sell or rent property for your business or any other reason, then be sure to request your FREE property valuation today.
Our property experts can offer a full range of services including valuations of both commercial premises and businesses, as well as rental valuations and valuation of development opportunities.
For more information on how Pearson Ferrier can help you, please contact our commercial team on 0161 764 4440 or email us at firstname.lastname@example.org.