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).

The disposal of 120,000 square feet on the Heads of the Valleys Industrial Estate was a particularly satisfying task. The building had been rebuilt following fire damage, and Jeremy Symons and his team were successful in identifying a nearby purchaser looking to expand. The sale price, at £4,000,000, represented a record sale price for a property of this nature in the area, and with great tenacity and endeavour was completed in a timely fashion. An excellent result.

Richard Hayward, Richard Hayward Properties