sound and strategic commercial property valuation advice

 

Industrial Development Site // Essex

 

Adam Stannard, Director of Valuation at Fletcher King has recently advised a large Essex based property company on the valuation of a car showroom site with planning consent for redevelopment of an industrial warehouse, in Essex.

The property company, upon purchasing the asset, entered into an overage clause, which was triggered by the planning consent.

Adam provided advice to the client on all aspect of the valuation, existing car showroom use, completed development in accordance with the planning consent, a development appraisal and residual site value, in order to assess any overage which may be payable.

The matter could not be settled by negotiation and proceeded to a third party RICS Expert determination, with each side providing their expert valuation submissions. The resulting determination was fully in accordance with Adam’s advice to the client and his submissions to the Expert, of no overage payable and with the tactical Calderbank offer, all of the clients costs were met by the other side.

For sound and strategic commercial property valuation advice please contact
adam.stannard@fletcherking.co.uk or call on 07894 096 369