5 January 2020
During uncertain times charity finances come under strain and scrutiny and property costs can represent a large proportion of outgoings. Some charities will still be required to expand whilst others need to surrender existing leases to reduce expenditure, or regear existing leases to reflect changes in funding. Advice should be sought in any of these instances to ensure that the best value is being achieved for the organisation.
In most cases, charities wishing to dispose of land and/or buildings have to comply with the requirements of the Charities Act 2011 which states that a Qualified Surveyors Report is required confirming the provisions of the Act have been complied with and that the terms of the disposal are in the Trustees’ best interest. Whilst a report is not mandatory for an acquisition, many of our clients find it a useful exercise to determine whether they are agreeing to the correct market rate at a new property.
Our experience means that we are able to identify suitable property strategies for our clients allowing buildings and leases to facilitate their invaluable work rather than becoming a drain on resources.
SHW have recently helped a variety of charitable organisations by providing these reports in short timescales which have prevented any delays in surrendering premises which in turn meant that there was no unnecessary rental expenditure on properties which were no longer required. No unnecessary property cost = more funds for charitable objectives!
If you are a charitable organisation considering your property requirements or strategy please contact SHW and we would be happy to discuss your opportunities and obligations further.