RICS Valuations

We are experienced in providing valuations for a range of tax purposes including Probate and Inheritance Tax when someone dies or where parties wish to give away their estate but continue to live there and pay rent instead. For Capital Gains Tax, we understand the requirement to carry out a ‘back dated’ valuation up to 31 March 1982 and closely follow HMRC and RICS guidance in completing this.

We carry out valuations for loan security purposes for a range of high street and private banks, building societies, bridge funds and financial brokers. These can be provided on a repeat basis and we sit on a number of panel frameworks but also as one-off appointments. We can provide both short and long form valuation reports using bespoke templates to satisfy our clients’ specific requirements.

Centrick valuations are often used for accounting purposes where property is held by a company, trust, SIPP or SASS and a current market value is needed. In addition, where property is acquired or sold a valuation may be required to satisfy the company directors or fund manager before the transaction can complete.

We work with a number of charities and their trustees, including religious bodies, to ensure that any property disposals or new long leases are carried out in accordance with Section 117-121 of the Charities Act 2011. We also provide market value advice where charities are acquiring new assets or carrying out any other property transactions to provide peace of mind and support their internal approval processes.

We are experienced in providing valuations for statutory purposes including Right to Buy where a Local Authority or Housing Association tenant wishes to acquire the property they live in. We also provide Lease Extension valuations to assist in the negotiation of statutory lease extensions (or freehold purchases) under the Leasehold Reform, Housing and Development Act 1993.

We can provide development appraisals for all types of residential, commercial and mixed used property to determine viability and support the planning and development financing process. We have worked with a number of developers and housing associations, having been instructed to value individual plots and building conversions as well as green field sites.

Through the growth in new build properties bought using the Right to Buy scheme, we have become very experienced in carrying out valuations for owners wishing to sell their property. For those with shared ownership properties looking to purchase additional equity shares (known as staircasing), a RICS valuation is also required. We have a good relationship with Target HCA and work closely with estate agents to support the sale process.

Working with solicitors and their clients, we act as a single or joint expert to support parties through matrimonial settlements and prepare reports for court purposes. We value all types of properties which may be solely or jointly owned, including large portfolios. We closely follow the court’s direction to ensure that we meet their timescales and present our advice in a clear and concise manner to help minimise any uncertainty in what must be a difficult time.

We also provide insurance reinstatement assessments to ensure that properties are correctly covered using the latest build cost data published by the RICS. For some properties this can make a big difference to the premium payable and save clients a considerable amount of money. For unusual, grade listed and mixed use properties, a full reinstatement assessment will provide peace of mind that the property is not under-Insured in the event of damage or full loss.