At Lea Hough Chartered Surveyors, we are frequently instructed to provide Valuation Reports for a range of scenarios. We were recently instructed on a more unusual case, involving a residential property in Rochdale that had suffered significant structural damage as a result of a gas explosion.
The incident occurred within the porch area of a detached house in Rochdale. The force of the explosion caused the patio doors and rear windows to be blown out, with the rear elevation of the property having physically shifted outward as a result. Upon inspection, our team observed substantial cracking and internal damage throughout the rear of the building, affecting both the structure and fabric of the property.
Due to the extent of the damage, the insurers acting for the policyholder required a detailed Valuation Report to assess the appropriate course of action in relation to the claim. Our brief was to provide two valuations: firstly, the market value of the property in its pre-incident condition, and secondly, the market value in its damaged state following the explosion.
Valuing a property in the wake of such significant damage involves a comprehensive and considered approach. Our experienced valuation team undertook a full inspection of the property, documenting the extent of structural movement, visible cracking, and the overall impact on habitable spaces.
In order to determine the post-incident value, we also had to consider the scope and scale of remedial works required to restore the property to its original condition. In this case, the necessary repairs would be extensive, involving substantial rebuilding works including the reconstruction of the entire rear elevation.
Reporting and Outcome
Our final report provided the insurers with:
- A market valuation of the property prior to the gas explosion, based on comparable sales evidence in the local area and the property’s condition before the incident.
- A post-incident valuation reflecting the reduced market value in light of the structural damage, required rebuilding works, and the impact on marketability.
- Commentary on the likely cost and timescale of remedial works required to return the property to a habitable state.
Our report enabled the insurers to make an informed decision regarding the insurance settlement and how best to proceed with the claim.
Expert Valuation Services in Complex Situations
This case is just one example of the complex valuation instructions we regularly undertake at Lea Hough. Whether assisting insurers, loss adjusters, solicitors, or private clients, our team of RICS Registered Valuers and Chartered Surveyors have the expertise to provide accurate, well-reasoned valuation advice – even in challenging circumstances.
If you require professional valuation advice following property damage or for any other purpose, please get in touch with our team.
