How Much Does a Commercial Property Valuation Cost?
In the UK, a professional valuation report on a commercial property is typically between £250 to £750. This is for a basic report detailing the principle value of a commercial property and evidence behind the figure.
The question is similar to how long is a piece of string. If a property is larger, more complex or a rarity of usage, valuations require more skill and further investigation. For a RIC’s registered valuation, a client will pay more.
Valuations vary in complexity and the valuation of a 500sqft property will be easier than a 2 acre mixed use estate. Ultimately, service is quintessential and it is increasingly important to use a trusted, renown commercial property consultancy firm – for instance, Shepherd Commercial.
We’d recommend obtaining at least two quotes for a valuation report and compare them not only on price but on service and effort. Whilst you may get a cheaper valuation report at one place, they may only use basic com-parables on Rightmove or Zoopla, thus giving you less evidence to present to landlords, tenants or purchasers.
Mentioned earlier, you will pay a slight premium for a RICS regulated firm, and rightly so, the service will be to a high standard along with strict compliance to ethics, standards and practices.
Whilst the majority of valuation reports sit somewhere between £250 and £750, it is not rare to see prices such as £3,000 for an asset. £3,000 may seem extortionate for Mr and Mrs Smith with a single retail unit, which it is, however hedge funds, REITS and major private landlords will front the costing for an extensive valuation report of versatile and potentially large assets.