Valuation

The “Red Book” is formally known as the RICS Valuation – Professional Standards. Kirkby Diamond have a team of experienced RICS Registered valuers, ensuring our valuations are based on our team’s market knowledge. We have specialists in a range of sectors and property types, as well as an in-depth understanding of market conditions.

Utilising specialist development and investment appraisal software, allows our team to undertake comprehensive valuations on complex development sites and investment properties.

We provide comprehensive reports for our clients, detailing matters surrounding the property including tenure, statutory matters and information about the property that may affect the values reported.

We ensure a peer review of all valuations before conclusions are reached and the report is jointly signed.

Typical purposes for which Red Book valuations are undertaken are:

• Valuations for accounts purposes.
• Inheritance Tax purposes on the death of a property owner.
• Valuations of Charity assets.
• Valuations for pension fund purposes.
• Valuations in connection with Capital Gains Tax

Development Appraisals are used for a number of purposes in respect of both residential and commercial development sites.

A typical purpose is the assessment of profitability of undertaking a development, where all the costs, including land costs are known.

Residual Land Valuations are typically prepared to assess the value of the land to be purchased or sold when a scheme has been drawn up.

Kirkby Diamond can also undertake Development Appraisals and Residual Land Valuations in respect of sites where no planning consent or proposed scheme exists.

Our experienced team of valuers regularly provide valuations to assist developers, landowners and potential purchasers to assess the value of the asset.

Kirkby Diamond act for many of the UK’s lenders, delivering loan security valuation advice on a diverse range of properties and portfolios within London and the Home Counties.

Typically, quote requests come in direct from lenders or introducer firms, however we can advise borrowers which bank panels we are on.

Kirkby Diamond have a reputation for providing high quality valuation reports, ensuring our lender clients and their legal advisors can make informed lending decisions when granting a mortgage on a property.

Kirkby Diamond have an experienced team of valuers who act for a variety of Freeholders and Leaseholders on a range of Leasehold Reform Valuations.

Typically, a valuation is required where a flat (or in some cases a house) owner needs to extend their lease to remortgage or sell their property. These valuations are undertaken in accordance with the Leasehold Reform Housing and Urban Development Act 1993 for flats and the Leasehold Reform Act 1967 for houses.

Kirkby Diamond specialise in dealing with Collective Enfranchisement cases, enabling flat owners to collectively purchase the freehold interest of their block of flats.

Whilst the valuations are the starting point, negotiations are a requirement of this type of work and our team of valuers regularly negotiate settlements for both leaseholders and freeholders.

Where settlements require third party intervention, Kirkby Diamond's valuers can attend Tribunal as Expert Witnesses on such matters to conclude negotiations for our clients.

Kirkby Diamond have a market leading commercial agency department who regularly deal with the sale of complex commercial properties. Working alongside our agency department, Kirkby Diamond’s team of valuers provide clients with a comprehensive valuation report detailing matters which may affect a disposal of a property asset.

These types of valuations are typically prepared before the sales process starts, where clients are unsure whether to sell a property due to factors including tax implications, which will influence the decision-making process. We ensure our clients receive accurate advice on factors which are known to us as valuers to affect the sale of a property.

Our clients are made aware of matters which may impact a purchaser’s ability to secure a mortgage on their property, as well as factors which could complicate the sales process and also affect value.

Where we have been involved early on in the sales process, it has ensured clients can proactively deal with the issues raised in our reports, to prevent issues arising during the sales process and sales being lost.

Kirkby Diamond have a team of experienced registered valuers who can act as Expert Witness in various forms of litigation.

From a valuation perspective, we regularly act as an Expert Witness in:

• Marital Disputes – including Joint Expert cases.
• Claims in respect of professional negligence where property is involved and it is necessary to assess damages, including retrospective valuations.
• Leasehold Reform cases.
• Compulsory purchase cases.