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Attended Site Valuation for Lease Extension

A thorough valuation and report based on our findings from a site inspection. This service is best for higher value properties, those in prime Central London, or on short leases.

 

Why choose the attended site visit?

  • The service is simple to use. All we require is a copy of the lease and to arrange a convenient time for the inspection to take place. Once the visit has taken place our report will follow 10 – 14 days afterwards.
  • We will measure the size of the flat and establish its market value in its unimproved state (improvements are to be disregarded according to the legislation).
  • Our report will include a thorough description of our findings including the Gross Internal Area and property features which can be taken into account, plus three calculations: our opinion of the ultimate settlement premium, what we recommend you put forth as an opening offer in informal negotiations or should a Notice of Claim be served, and the figure we reasonably expect the Landlord to ask as a Counter-Offer (or Tenant to offer, if we are acting for a Landlord).
  • The advantage of this type of report is that it gives you a best-case worse-case scenario breakdown as we set out the spectrum of the figures. It also puts us in a ready position to negotiate the premium if a Notice of Claim is served or should you enter into informal negotiations.
  • Carrying out an attended site valuation does not mean we will come to a different conclusion than had we undertaken a desktop valuation. It is only a question of whether or not it is of value to you to have us inspect.

We recommend attended site valuations when acting for Landlords responding to a Notice of Claim, for higher value properties, and often for flats that are on short leases as the premium is much more sensitive to the property value than on long leases.

For properties in Central London (sometimes known as Prime Central London) in the negotiation stage for large estates it is essential that the flat has been inspected. If, after discussions with you, you think it is not required, we will give you the benefit of our experience – and a desktop valuation may be a better alternative.

Many properties in Central London are subject to a head lease and this will require further investigation which we will discuss with you on a case-by-case basis.