The first half of 2019 was one of the most active on record for commercial property valuation at independent surveyors Holloway Iliffe & Mitchell, with March being the busiest month in the past five years.
The firm said: “The variety of demand has covered several remits, particularly with a focus on taxation purposes including probate, capital gains and matrimonial. In addition, there has been an increase in revaluing properties held within pension funds.
“One of the core areas that has seen a significant increase in valuation demand is housing in multiple occupancy (HMO) with investment in the sector continuing to rise as rental yields outperform other property types. Regulatory changes at the end of 2018 now mean that more houses require an HMO licence and while there are higher costs associated with the management of such buildings, they are generating a return greater than the standard buy-to-let.”
Associate director Peter Dalby commented: “There has been an escalating amount of activity across the south coast, particularly for formal valuation requests, whether for single buildings, small portfolios or increasingly HMO landlords.
“We have seen a reduction in the number of commercial valuers operating in the area and as a result we have been appointed to additional lenders’ panels to provide them with the detailed reports they require. Our in depth understanding of the local area and what impacts on valuation is key to our role as one of the region’s leading practices.”
Established in 1991, Holloway Iliffe & Mitchell is an independent firm of chartered surveyors and commercial property consultants, based in Portsmouth covering the south coast, particularly the M27 and A3 corridors.
The firm specialises in office and industrial agency, acquisition, valuation and professional advice across a range of sectors. It draws on its extensive and wide ranging experience to give impartial, strategic and tailor made advice building strong long-term client relationships.
Holloway Iliffe & Mitchell’s office is one of the largest in south east Hampshire with a young, dynamic team, including four registered valuers.