ValuationAll the latest news and views on property valuation.
The government’s chief commercial expert has defended the property valuation prior to Royal Mail’s privatisation as the share price for the company continues to rise.
CBRE and King Sturge are being sued for a figure which could reach £100m over the valuation of a £1.2bn property portfolio which went into administration last year.
As the Growth and Infrastructure Bill passes committee stage in the House of Lords and has its third reading next week, opposition to clause 25 — delaying the revaluation of business rates to 2017 — is not the only rating flashpoint facing the government.
No stance taken as yet on issue of projected valuations. Sarah Townsend reports
The Court of Appeal has ordered the property adviser previously known as Drivers Jonas to pay £11.8m in damages for negligently advising Capita Alternative Fund Services – the trustee of a property unit trust – on its purchase of a factory outlet shopping centre in Historic Dockyard Chatham in Kent.
Firm defends valuation of huge mixed-use complex in Germany following claim brought by Hatfield Philips
Sean Tompkins wants to trade UK experience with overseas capital to cement the RICS’s relevance to property. Sarah Townsend spoke to him. Portrait by Trent McMinn
Spirit Company, the business spun off from Punch Taverns in August 2011, reported increased losses yesterday after a £595m write down of its property portfolio.
Surprise, surprise: the Valuation Office Agency is preparing to fight back against a recent business rates case it lost. Was anyone in any doubt that it would?
Rating specialists at CBRE and Jones Lang LaSalle have appealed a decision by the Valuation Office Agency concerning the rateable value of Exchequer Court at 33 St Mary Axe in the City of London (below).
One of the first cases since residential leasehold valuation tribunals (LVT) were given extra powers on 1 July was heard this week. In the case, an unco-operative landlord was barred from taking part in the hearing under the reforms.
Investment Property Forum challenges accepted processes. Sarah Townsend reports
Peers demand government officers explain discredited data used to justify revaluation postponement
A new valuation of the Citypoint tower in the City of London, which is in receivership, showed a slide in the value of the property in 2012.
Industry bodies say postponement of revaluation “bad for business”
Redefine International has reported a 19.8% drop in net asset value in a transformational year for the company.
Bank of Ireland is pursuing six-figure settlements from three further surveying firms as it seeks to recoup losses accrued from unpaid property loans.
Cluttons is facing a claim of more than £1m from Bank of Ireland over a dispute on the valuation of a flat in Belgravia.
Case that challenged approach to rent-free periods may be rerun. Sarah Townsend reports
The Bank of Ireland is suing Lambert Smith Hampton after claiming it suffered losses of more than £4.5m because of an incorrect valuation of a Leeds residential scheme.