Charities Act Valuation

Under the Charities Act 2011 a written valuation report from an independent surveyor is required when a charity is leasing a property or selling an interest in property or land that exceeds seven years. It is also highly recommended that an independent valuation is obtained when purchasing property or land to confirm that the charity is paying a fair price. 

The surveyor advising the Charity must be a qualified Fellow or Member of Royal Institution of Chartered Surveyors (RICS) and have experience of similar valuations in the subject area. The requirements under the Act go beyond those of the RICS Red Book valuation standards, as a Charities Act valuation, sometimes referred to as a Qualified Surveyors Report (QSR), needs to advise the Charity not only on the value, but the most appropriate method of sale, how best to advertise the property and whether to carry out works prior to a sale. 

Carters Chartered Surveyors’ experience in Charities Act valuations ensures that trustees receive the right advice, in order that informed decisions can be made in the best interests of the charity.