Awash with unusual valuations during lockdown

29 July 2020
  • Former reservoir Wales Cooke & Arkwright

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Cooke & Arkwright’s multi-disciplinary valuation department has been busy throughout lockdown. At a time when valuing any property has been challenging, we have been awash with unusual properties arising from our very diverse client base.

Prime examples ranged from a former reservoir with a covenant preventing its reuse as a reservoir, to an area of common land and a former fish farm. 

Whilst these are difficult properties to value due to their state of disuse and lack of direct comparables, we have a wealth of experience and data in the rural property market in Wales to draw upon to help us provide a fair and accurate assessment of value.

All sorts of assumptions may apply, from condition of land and buildings, to planning. There may also be special assumptions to be agreed, such as change of land use.

Alongside these more unusual properties, we have also valued many more traditional office and industrial properties for various reasons, including pensions and court hearings.

If you have any queries regarding property valuation we will be happy to advise you. Please feel free to contact Elizabeth Hill (Commercial Valuation) or Chris Hyde (Land Agency).

I have worked with Jeremy Symons over the past three years successfully leasing and buying property in support of my business. I continue to be very pleased with his knowledge of the market and expertise. Our relationship over this time has resulted in acquiring 20,000 sq ft at Capital Business Park in Cardiff, leasing 11,000 sq ft at Southpoint, and subsequently leasing an initial 42,000 sq ft at Parc Bedwas, followed by a succession of expansions of a further 11,000 and then 47,000 sq ft, enabling us to centralise all of our operations at Parc Bedwas in a single 100,000 sq ft facility. The acquisitions were completed at the perfect time for tenant purposes and the rent fixed throughout the term at very economical rates. A job well done.

Bob James, Aerfin