Six
freeholds.

When a private investor client needed Red Book valuations across their property portfolio for accounting purposes, the instruction covered six freehold mixed-use assets in a single commission.

The portfolio ranged from a small suburban shop with a flat above in Whetstone to a ten-unit retail parade with ten flats in Luton. Properties spanned North London, Southgate, New Barnet, East Barnet, Kilburn, N20, and Luton, with a combined value of approximately £5,540,000 as at 31 December 2024.

A portfolio valuation isn’t just one instruction done six times. Across these six properties we were dealing with the kinds of complications that don’t batch into a spreadsheet:

1. 01 Commercial Leases at varying stages of their terms, some recently re-geared, some running down towards review or expiry.
2. 02 Residential flats held on a mix of ASTs, long Leases, and peppercorn ground rents, each warranting its own income or capital approach.
3. 03 Lease extension premium assessments under the Leasehold Reform, Housing and Urban Development Act 1993, on the assets where they were live.
4. 04 A non-occupying commercial tenant whose presence shifted the basis of value rather than the rent roll.
5. 05 A near-expired Lease where the passing rent was not the right basis for capitalisation, and the working had to make that clear to the auditor.

Every property had a story, and every valuation reflected it. All six reports were prepared and issued following inspection, giving the client’s auditors exactly what they needed, when they needed it.