Red Book Valuations for Probate of a mixed property portfolio across multiple locations in Bedfordshire and Dorset
We were approached by the Managing Director of a local property company to carry out several Red Book Valuations for Probate. This mixed property portfolio held by the company incorporated industrial, retail and residential units across a wide geographical area.
The Report
Across the locations, there were a total of fifteen properties to be considered, all of which were occupied. Thankfully all of the tenants and estate agents involved were accommodating, and willing to assist with our scheduling and visits in order to complete the process swiftly as requested by the client. As with all projects of a complex nature, we are always happy to discuss the timing requirements of the client and work to an agreed schedule.
We assessed the size and condition of the interior and exterior of each property, along with any other factors that could impact the market value, including development potential. Additionally, the land registry, title plans and flood risk indicators were all researched. The reports were prepared using all of this information and anything else necessary in accordance with the Red Book valuation standards, supported by innumerable photographs and utilising comparable evidence within the local market in order to assess and provide the market valuations.
By its very nature a Red Book Valuation is extremely comprehensive and can only be completed by a RICS Registered Valuer.
I was very impressed by Neil Moran Associates’ handling of what was quite a large and complicated project. The reports were considered and excellent. We have had no issues with them being accepted for our Probate purposes by HMRC and I would have no hesitation in using NMA again – I have subsequently recommended them to other parties.
Managing Director – Bedfordshire
