News

10 reasons why you should have a commercial property valuation

August 2021

Brad Faulks, GJS Dillon’s Associate Director of Commercial Valuations, gives his 10 reasons for having a commercial property valuation:

  1. If you’re buying or selling a property, it’s essential to have a valuation so that you understand its market value
  2. In the event that you are renting out the property, a valuation will help you determine the fair and competitive rate for tenants, a lease renewal or a rent review
  3. When transferring a property to someone else an independent valuation is needed 
  4. A valuation can help you determine the value of a sites or buildings held at the date of reporting to help you accurately submit your annual company accounts.
  5. If the owner wants to liquidate the business or merge with another company then a valuation is required 
  6. If the property has been damaged and renovations are needed, a valuation is needed to understand the extent of the damage and its impact on value
  7. Valuations are required for a number of taxation purpose including Capital Gains, inheritance, corporation or income tax 
  8. Should the owner of the property die, the executors may require a valuation before making a decision on behalf of the estate
  9. Your pension scheme can purchase property from you, a person connected with you or any other party. However, the necessary valuation and survey needs to be undertaken by an independent RICS Registered Valuer
  10. An accurate and comprehensive loan valuation on your commercial property will enable banks and other financial institutions to make an informed decision on whether any loan they make to you will be secure

To book a commercial property valuation contact our Valuations team on 01905 676169 or email bradfaulks@gjsdillon.co.uk

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