Licensed Trade Valuers
Mark S. Elliott has spent 25 years working in various management roles within the tenanted and leased divisions of the UK's largest breweries and pub companies. His extensive knowledge and day-to-day involvement with pubs and publicans make him well qualified to know what is required to run a successful pub. He shares his knowledge and many 'insider tips' with you in this book. Mark is based in Cockermouth, Cumbria.
LICENSED TRADE VALUERS
What they can help you with
As the name suggests, licensed trade valuers specialise in the licensed trade. Their main services are:
- the valuation of leased and freehold properties;
- valuation of trade fixtures and fittings.
They may also provide other services like stocktaking, rent assessments, rating advice and arranging insurance cover.
Some are members of the Royal Institute of Chartered Surveyors. Others are members of various associations of licensed trade valuers, such as the Association of Valuers of Licensed Property. More information and member details can be found on their website: www.avlp.com
Valuation of fixtures and fittings
In the case of taking a tenancy or new lease, the trade fixtures and fittings will be valued on the day of ingoing by a licensed trade valuer. Both the seller (outgoing licensee) and the buyer (ingoing licensee) of fixtures and fittings are advised to have a valuer to act on their behalf. The brewery or pub company may insist that you use a valuer that they recognise. In the past the buyer and seller would each appoint a separate valuer. However, it is now common practice in many areas to use a single valuer, thereby enabling fees to be shared. Licensed trade valuers can also provide you with valuations of leases and freehold properties for both buyers and sellers.
Choosing a valuer
The brewery or pub company can normally provide details of recommended valuers. The outgoing tenant is likely to have details of who carried out the last valuation of fixtures and fittings, when they took on the pub.
Other factors to consider
Fixtures and fittings valuation fees are based on a percentage of the fixtures and fittings value. Fees vary between valuers. As in the case of other professionals, shopping around will get you the best rates.
