Valuation - JS Reakes
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Valuation

As we are regulated by the RICS our valuation services follow professional standards (also known as a red book valuation) set by the RICS.

We can provide independent professional valuations for the following reasons:

Rent reviews/Lease renewals

If you are trying to negotiate terms of business with a partner, landlord or tenant an independent valuation is an essential part of the process. You will need professional guidance to determine the correct level of rent and how best to approach the negotiations.

SIPP (self invested personal pensions)

Your pensions provider or scheme administrator will require a market rent and market value of the property within your scheme, at the time of inclusion in the scheme and at regular intervals.

Expert witness

In certain circumstances especially where there is a dispute between partners/neighbours or landlord and tenant, your solicitor will require an expert witness report to determine the value of property being disputed.

Dispute

Sometimes business partners do not agree and need an external independent expert to assist in coming to a settlement. In this case we can either act for you as an advocate or act for both parties on a joint basis.

Business valuation and or property valuation

Are you a business owner, or professional advisor that needs specialist advice to help with making a strategic decision? Or maybe you require a valuation of your current business or property interests before moving ahead with your plans? You may want to unlock the value within your business or property, or require a share valuation of your business.

J S Reakes valuation reports include the following:

  • A reasoned and researched valuation of your business and property by a professional valuer
  • Detail regarding the current market place
  • Comparable evidence to support the valuation
  • Professional standards set out in the Red Book

Our valuation reports take approximately two weeks however this is dependent on your requirements it is best to call us early to discuss.

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What is an independent Professional standard (red book) valuation?

A Professional standard valuation also known as a Red book valuation is an independent valuation report that follows the RICS (Royal Institute of Chartered Surveyors) red book code of practice, all RICS registered valuers have to follow the RICS red book code. The idea being there is a set standard of rules and guidelines to ensure your report will stand up in court, be approved by HMRC, lenders and it provides you with a solid ground when it comes to negotiating.

RICS Red Book provides an effective valuation framework and valuers are reminded to use their own skill and judgement to ensure valuations accurately reflect the market, in line with the requirements of the RICS Valuation – Global Standards 2017.”   RICS website

Further reading on professional standards

https://www.rics.org/uk/upholding-professional-standards/sector-standards/valuation/red-book/

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