Project:
Commercial valuations - Vicarage
Location:
Gloucestershire, England
In Brief:
We were recently approached by a religious trust in Gloucestershire and asked to prepare a valuation for its vicarage. But rather than valuing the property for continued use as vicarage, we were asked to assess its potential as a residential dwelling.
As required under Section 119 of the Charities Act 2011, because the valuation was for an alternative use of the building, a RICS-registered valuer must produce the report – and with years of experience, we were only too pleased to help."
As required under Section 119 of the Charities Act 2011, because the valuation was for an alternative use of the building, a RICS-registered valuer must produce the report – and with years of experience, we were only too pleased to help.
Great Potential in an Idyllic Setting
The property offered many attractive features – a large, detached, four-bedroom house set amid open countryside – though its remoteness, steep entrance, and proximity to a 40mph road were notable constraints.
As well as assessing comparable data and considering all influencing factors, including potential conservation barriers, we looked at the various realistic residential options open to the trust and what might offer its best financial return.
After careful analysis, we provided the trust with three valuation scenarios: first, as a single dwelling; second, as a potential conversion into two homes; and third, on the basis of redevelopment potential and land sale.
Tailored Insights
Every valuation presents unique challenges and opportunities. By tailoring our approach to the trust’s needs, we ensured they received clear, market-backed advice to support their decision-making.
To find out more about our commercial valuation services or to request a valuation, call 0121 817 7670, or email Pareemit Tyagi p.tyagi@eastonbevins.co.uk
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