Valuation of an office

A mid-size investment firm approached us to value a three-storey office building located in a prominent regional business park. With several tenants in place and a lease expiry looming, the client wanted a clear, up-to-date valuation to guide a potential sale or refinancing strategy.

As RICS‑certified valuers, our role was to deliver a robust, defensible valuation that considered both the income potential and the physical condition of the building. Our goal was to provide the client with confidence in negotiations and clarity in their financial planning.

First, we carried out a full site inspection, measuring gross internal floor areas, assessing tenant fit-out quality and checking structural integrity. We gathered tenancy schedules, rent terms, incentives and lease expiries, and market evidence was sourced through comparable lettings and recent investor sales in the business park.

All findings were reviewed under RICS standards to ensure transparency and consistency, including adjustments for vacancy risk and lease incentives.

Our final report presented an opinion of market value aligned with RICS Red Book requirements. We highlighted key value drivers: the 90% occupancy rate, two upcoming rent reviews and recent refurbishment, plus areas for optimisation like lease flexibility and potential rent uplifts.

The client appreciated the clear recommendations and confidence that the valuation would stand up to lender and buyer scrutiny. Ultimately, the valuation enabled an informed decision on refinancing, with a strong negotiating position secured.