Valuations
White and Co is Regulated by RICS, with valuation advice carried out in accordance with RICS Global Standards 2017 (the ‘’Red Book’’) and the International Valuation Standards (IVS) 2017. Individuals responsible for each assignment are highly experienced in their field and the firm carries out the valuation of both freehold and leasehold property of all types as well as business assets for all purposes.
All valuations undertaken are carried out by or under the direct supervision of a valuer who is a Registered Valuer under the RICS Valuer Registration Scheme.
White and Co carries out the valuation of land and buildings falling within the categories of residential, commercial, industrial and retail property as well as land for taxation purposes e.g. Probate, Capital Gains Tax (as at 31st March 1982 or other), Inheritance Tax.
White and Co carries out the valuation of freehold and leasehold property for inclusion within Financial Statements on the basis of Fair Value under the provisions of International Financial Reporting Standards (IFRS) and other non-IFRS accounting standards in other jurisdictions.
White and Co carries out the valuation of Commercial, Industrial and retail land and buildings on the basis of a periodic review or for acquisition or disposal purposes in accordance with Pension Fund Trustees requirements.
Advice to Pension Fund Trustees typically relates to Market Value and Market Rental value, along with an estimate of the sum insured for buildings reinstatement purposes though advice can also be provided in respect of the disposition of existing leases.
White and Co carries out the valuation of business assets in all sectors and for all purposes. Business assets typically fall within the categories of plant and equipment, machinery, stock and motor vehicles however, this also includes other tangible assets and Intellectual property including patents and trademarks.
Where appropriate valuations in accordance with the requirements of SIP 19 can be provided.
White and Co holds panel appointments with a number of lending institutions and is able to provide valuation advice on both residential and commercial property as well as business assets for secured lending purposes.
Valuation reports seek to add value by way of the provision of advice and recommendations pertinent to the subject property and comment upon whether there are any unusual risk areas that might be considered beyond normal parameters.
Individuals within White and Co are able to prepare Expert Witness Reports together with supporting evidence and opinions to assist a Court or Tribunal in the resolution of property related disputes. The requirements of the Part 35 of the Civil Procedure Rules are understood, with appointments generally being undertaken on the basis of an Expert Witness or as a Single Joint Expert Witness.
Where appropriate, we are willing to meet with opposing experts to narrow the issues and to prepare agreed statements of fact.
White and Co carries out the valuation of land and buildings for either acquisition or disposal purposes under the provisions of S119 of the Charities Act 2011. Valuations of this type can relate to advice on both Market Value and Market Rental Value. Where requested further advice may be provided on the best means for a disposition to be effected in order to comply with Charities Act requirements.
Valuation advice for charities is carried out in conformity with the requirements of The Charities (Qualified Surveyors Reports) Regulations 1992.
White and Co carries out the preparation of valuations relating to both residential and commercial property in order to provide an estimated rebuilding cost for insurance reinstatement purposes.
It is paramount to ensure that property interests and business assets are adequately insured to prevent adjustment of losses, in event of an underinsured claim being made but also in order to avoid excess premium being paid in respect of over insured property.
White and Co carries out valuations both land and buildings relating to residential property and well as commercial, industrial and retail premises along with business assets. This also includes development sites or land and buildings with redevelopment potential. Valuations are carried out for a variety of reasons within this category though are often associated with agency instructions, to ensure that realisations are optimised on open market disposal or that property is secured on the best terms that can be reasonably obtained in the market place.
Valuation advice often relates to advice upon Market Rent as well as Market Value and typically includes reference to conditional aspects and tenure as well as planning considerations and wider market influences.
White and Co is able to prepare valuations in accordance with the provisions of Section 18(1) Landlord and Tenant Act 1927 to advise upon the loss or diminution in value of the landlords reversionary interest as a consequence of the alleged breach of repairing obligations under a lease. Valuations in this respect can be prepared on behalf of the landlord or tenant alike.
If required, we are willing to provide further advice and enter into negotiations with either the landlord or tenant to resolve valuation issues or to deal with a third party referral where necessary.