Lea Hough’s Commercial Valuation team have recently completed the Asset Portfolio Valuation for a Local Authority in Lancashire for the second year in succession.
Having originally won the project via tender in 2020, our Commercial Valuation Team was tasked with re-valuing the portfolio with the addition of circa 40 new assets, taking the overall total to circa 250. Each of the assets was required to be assessed on an individual basis – making it the largest portfolio that Lea Hough has valued within on exercise.
The property portfolio comprised a varying range of assets which included the following:
- Retail properties
- Industrial properties
- Residential properties
- Various land types
- Church premises’ including chapels, crematoriums and cemeteries
- Parks, play areas and open spaces
- Car parks
- Heritage sites
- Shopping centres
- Leisure centres
Since the delivery of the last project, the property industry had experienced various changes, in particular the drastic increase in build-costs.
Given the significant changes within the market over the past twelve months, our team was faced with a variety of challenges and had to work proactively in ensuring the instruction was undertaken professionally and delivered to the highest standard, to reflect current-day market values.
Lea Hough’s Commercial Valuation Team worked closely with the Council throughout the project; having built a strong relationship throughout the previous year’s valuation process. Due to the experience and expertise of our Valuation Surveyors, we were able to deliver the project to meet the Council’s specified deadline.
Lea Hough continue to act on behalf of various local authorities within the North West and maintain a proud track record in providing the best possible advice.
For more information on our services to local authorities, visit our page on Public Sector Buildings.
