Generic property valuation checklist
Prior to site visit
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Obtain report on title (if available)
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Obtain leases, sublease, licences to alter and any other legal documents
TIP: This is to help establish if there are any tenants’ improvements.
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Obtain floor plans and site plans
TIPS: If there are no plans available, check the lease for lease plans – Check the plans thoroughly, so that it is possible to spot
any tenants’ improvements while out on site.
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Arrange inspection (notify occupiers/tenants)
TIPS: Keep a list of contact numbers to take out on site in case of a breakdown in communication – Be clear as to what
information the client wishes to divulge to occupiers – Try to obtain clear and concise directions. The following websites may
help: www.streetmap.co.uk, www.multimap.co.uk.
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Take all necessary equipment
TIP: Dictaphone, pad, tape, laser measure, camera, scale ruler to suit plan, plans, maps and coloured pens.
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Be aware of available and similar properties in the locality for comparable purposes
TIPS: Obtain a list of comparables by searching databases such as those provided by Egi or Focus, to enable you to compare
them on site – Obtain agents’ details for the subject property (if under instructions to let or to sell) and comparables – Be aware
of comparable properties already valued or managed by your company.
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Check if you need to visit the local authority in person
If you have valued the property before, take a copy of the old report with you as a reference
On site
External site considerations
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Note the exterior condition of the building/site; take photographs of the building, surrounding area and comparable
buildings/sites
TIPS: Note such things as roof condition and rainwater goods – Is the building/site generally well-maintained or unkempt?
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Make notes on the situation of the building
TIPS: Walk the perimeter of the building/site – Check and amend location plans and office records – Note your impressions of
the site and its location – Consider whether there are any factors that currently affect the property, or will do so in the future – for
example, building works – Consider the car-parking ratio and car-parking provision in surrounding areas – Note public transport
provisions – Note all forms of physical and electronic communications – check road, rail and air links; weight and height
restrictions on access; provision of broadband internet access; and so on.
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Consider comparable evidence
TIPS: Note any boards of other agents – Check the specification and situation of the comparables you have already sourced off
databases – Photograph the comparable buildings/site.
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Note whether the property is in an established office/commercial/industrial location as applicable
Note the provisions for the turning space of vehicles
Make a note of the accessibility and motorway/transport links
TIP: Is the vehicular access suitable for the use of the premises?
Note the uses in the surrounding areas
TIPS: Note whether the site is suitable for existing use. – Is it, for example, an isolated industrial estate surrounded by
residential property?
Environmental issues
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Note possible environmental issues
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TIPS: Is the land wet? – Are there any potential contamination issues visible, including from adjoining properties? – Are there
any hazardous or deleterious materials visible? Are chemicals or dangerous substances stored on-site? – Are there any highvoltage cables or substations in the vicinity of the property? – Are there any radio masts in the area? – Consider possible impact
of EU directive on the energy performance of dwellings and commercial buildings. – Are there any asset value implications of a
low energy rating?
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Note other occupiers and nearby uses that may pose environmental issues
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Note age/current use/evidence of previous use of the building
TIP: The age of the building may be an indicator for use of deleterious materials in construction.
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Note abnormal ground conditions
TIPS: Note any coastal erosion. – Note any mine workings/quarry works/underground works. – Is radon gas a factor?
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Use environmental websites to gain information
TIPS: Such websites include www.environment-agency.gov.uk and www.homecheck.co.uk, and could indicate flood risks.
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Use the checklists in the RICS guidance note Contamination, the environment and sustainability: Implications for
chartered surveyors and their clients to obtain information
Internal site considerations
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Note the building condition
TIPS: Note poor decoration, rot, age, walls out of alignment, evidence of structural movement. – Take photographs to record
this.
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Take general site notes
TIPS: Note dates of construction, extension and refurbishment, if known. – Note number of floors and use of each floor. – Note
approximate configuration and change in levels. – Note type of construction.
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Note specific details for each floor
TIPS: If scaling from plans, ensure sufficient check measurements are taken to verify scale. – Sketch plans if no plans are
available (ensure that they are neat, in case they need to be used by colleagues). – Make specific notes on the general condition
of each floor. – Note fit-out and specification of the landlord and/or the tenants.
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Note services to the building
TIPS: Ask questions of the facilities manager, plant engineer, and/or caretaker with regard to any issues concerning the services
and running of the building. This should include such things as heating systems, air-conditioning units, lifts (size and type) and
escalators. – In addition, note any public utilities.
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Note whether industrial/commercial premises provide functional clear space with adequate headroom for forklift
trucks, etc.
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Make a note of any tenants’ improvements
TIP: These may come out through discussion with site representatives.
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Note any accessibility issues
Consider the WC provisions – note these for each floor
Measurements
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Make sure the plan is marked up in a clear way
TIP: It needs to be legible for future reference. – Use different coloured pens for drawings and referencing. – Take a pocket tape
to measure short distances, pillars, etc. – Use ceiling tiles to establish alignment of walls.
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Measure the height of the eaves
Measure width and height of loading doors
TIPS: Make a note of how many loading doors/dock levellers there are. – Can vehicles access the loading doors easily?
Confirm tenants’ improvements and fit-out (if applicable), as these will be disregarded
TIPS: This includes tenants’ non-structural partitioning. – The office/facillities manager is likely to have a reasonable
knowledge of the building. – You may also refer to the lease plans.
Confirm the boundary
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Count car-parking spaces
Desk-based data-gathering
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Obtain planning/highways information
TIP: Use local authority websites. The local authority can also provide general environmental information.
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It is also useful to obtain copies of the planning consents
TIP: these can be supplied by the client or by the local authority. If supplied by the local authority, there is usually a cost
implication.
Statutory enquiries
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Source rateable values and the UBR (uniform business rate)
TIP: The following website may be useful: www.voa.gov.uk
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Check stamp duty land tax exemptions, either by ward or by postcode
Visit www.hmrc.gov.uk
Comparable information
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Check your firm’s internal resources
Follow up the boards/information sourced from site
Follow up information obtained from databases such as Egi or Focus
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Speak to the agents locally and nationally
TIPS: keep a list of whom you have spoken to; you can then call them back if necessary. – Have a look at the agents’ websites
for available space in the vicinity. – Check local authority web pages for schedules of vacant properties in the area.
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Use property web pages to search for comparable evidence
Try www.propertyauctions.com and www.propertynews.com
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Check/read leases
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