Property Valuation

Factors leading to successful valuation

There are many factors that are considered while valuating a Brisbane Property Valuers by a valuer. Keeping an account of the sale of property of nearby area helps a lot in getting a precise figure. Land value and site value from the local government bodies can help getting a good value. for small to medium sized suites. Rates on vacant buildings have recently been placing greater pressure on landlords and their agents to achieve increased occupation of premises to curb increasing outgoings. For the first time landlords are paying 50% rates for unoccupied space. To date, this has had little effect on rents and lease terms, but as time progresses it could be argued that pressure will build on securing lettings.

Proper improvement of the property or any changes in the property before valuation or building inspection reports can help in appreciation of property, all the nearby amenities and improved local facilities add to the value to property. A good supermarket nearby, schools, playgrounds, gyms, clubs etc in the surrounding area adds up in the overall valuation of the property. Much has been written about the closure and relocation of Northern Ireland’s traditional manufacturing base over the past two years and this has shown no sign of abating in 2005. We successfully sold the 15,000 sq. m. former Valence Technology complex in Mallusk, which was vacant for twelve months after the company moved production to China. In March we placed the 4,200 sq. m. former Multimedia Infotech premises in West Belfast on the market. It is expected to achieve in the region of £1.6 million.

All these factors are considered while valuing a property and helps valuer get the perfect valuation for property. The closure of this production facility and relocation of 65 jobs to Taiwan follows a number of closures and announcements including Teleflex Medical, relocating 270 jobs from Lurgan to Malaysia, further losses at Shorts, Adria, M&S, Riverside Textiles, Elastic Knitting and Ritek in Omagh totalling losses of over 1,196 jobs throughout the industrial sector.

This transaction, which we negotiated, will provide a huge boost to North and West Belfast and follows swiftly on the opening of the Yell call centre. The decline of traditional manufacturing should not be viewed in isolation. Positive news came in the last six months with the announcement by LBM of their intention to locate here.