Shopping Centre Valuation for Loan Purposes

Shopping Centre Valuation for Loan Purposes

Client: The Bank of Scotland

Instruction: Valuation

We were instructed by The Bank of Scotland to undertake a valuation of six shopping centres for loan security purposes. We were required to prepare a valuation report on the basis of the Model Conditions of Engagement annexed to The Valuation Guidance Notes 1&2 and Practice Statements 7 & 8 of the RICS Appraisal and Valuation Manual.

We undertook full measurement inspections of all six shopping centres in Bolton, Ellesmere Port, Sale, Liverpool, Middleton and Preston; considered business plans prepared for each centre; reviewed the financial model and commented on assumptions therein ; commented on the entry and exit yields; reviewed all legal documentation including individual leases; commented on the retail shopping centre sector; reviewed all development proposals.

We completed the full inspection and report within a tight timescale of four weeks from instruction, reporting a total value in excess of £200 million.