21 November 2018
SHW London Professional was recently instructed by a school trust to value their dual site premises for internal, accounting purposes. The school was located in a suburban part of South London. It occupied a large site with numerous school buildings, ancillary areas, playing fields and bespoke playgrounds.
The valuation of this type of asset namely with D1 Planning Use Class, requires a dedicated valuer with in-depth knowledge of this asset class and its potential market. The London Professional team was able to draw on in-house SHW experience of trading such assets. Our Agency team has both sold and acquired a number of D1 properties for clients all over London and the South East in the past 12 – 18 months. This provided us with valuable first hand comparable evidence to support our valuation.
Gemma Quinn (London Professional) said: “Over the past five years, non-residential institutions such as schools, nurseries and health care centres have transacted in the open market, mostly at auctions. The upsurge in interest in this sector is due in part to an increase in the number of academies providing educational facilities to local authorities as well as our growing population requiring more nursery places.
“Parents now require smaller class sizes for their children. This in turn has led to sophisticated market segmentation offering a range of services from basic facilities at the bottom end of the market to high end specification at the other extreme. This upturn in demand has resulted in a lack of suitable buildings and accordingly an increase in values of these D1 buildings”.
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