When a Registered Charity wishes to dispose of a property asset, either by way of sale or a lease with term of greater than 7 years, s.119 of the Charities Act 2011 comes into effect.
The legislation requires that a Qualified Surveyor, a Fellow or Member of the Royal Institution of Chartered Surveyors (RICS), provides written advice prior to entering into any agreement for sale or lease.
The valuation report is to provide an opinion as to the current market value of the property, whether any works are required prior to disposal as well as opinion as to the most appropriate marketing strategy for the property to achieve the best price possible.
The Charities (Qualified Surveyors’ Reports) Regulations 1992 set out further items that a Qualified Surveyor should look to include within their valuation report. It is therefore essential to choose a surveyor with the knowledge of the relevant legislation and the experience of providing charities with key strategic advice with which to achieve a successful sale at the optimum price.
At George F. White our experienced team of RICS Registered Valuers have extensive experience of acting for a wide range of Registered Charities in valuing an extensive range of property assets for Charities Act 2011 purposes; including former education facilities, places of worship, residential care properties as well as more typical asset classes such as land, commercial units and residential dwellings.
This experience and expertise enables us to provide our clients with the clarity to help make the right decisions and achieve the best possible results.