valuation/RICS surveyors

[anonymous-user]

Anyone an RICS surveyor on here? Just helping to sort some stuff out for family member and had a quick question about a red book valuation for a commercial property. Property in question has a business in situ (no contract/lease in place, no rent being paid - long story), valuation to be done but have solicitors claiming the valuer needs lease terms in order to give a valuation - surely they don't need any lease terms to come up with an appropriate market rent? Also, fixed fee cost of £2750, does this seem steep? It's a 6000 sq ft specialist unit with office/retail/storage space, rural location, single business.
Thanks in advance

Emma

[anonymous-user]

I think the money is pretty steep. Who did you use, Mr Man, if you don't mind. We're same area (well, cambs)
Thanks in advance

Emma

[anonymous-user]

I thought it was pretty expensive, I'll shop around. Does anyone have any idea of costs be it % of valuation, etc? Also, recommendations would be useful. I appreciate that if it's red book, there are guidelines to follow and it's admissible in court so no shenanigans allowed. I just want an honest valuation for a commercial premises, without any game playing. Alternatively, direct me to a kick ass lawyer and I'll advise family member to kick out business and build 30 plus houses No issues with paying, whatsoever, but struggle to see the value at that sort of money!!

Thanks all

Emma (still skint, but less so!)

[anonymous-user]

Thanks all. It's to establish a market rent for the current occupier, if that helps. If that's what it costs then so be it, I thought it seemed a little pricey and didn't know if anyone on here had some insight.

Thanks!

[anonymous-user]

Thanks all, as ever, some good advice and all taken on board. No court actions, just trying to establish a reasonable rent for current occupier.

Thanks again

Emma

[anonymous-user]

Thanks for that. Although there's no tenancy agreement/lease in place, the basics - such as length of term, basis of term, rent reviews and break clauses, etc are largely known and agreed in principle. It's the actual rent that's the sticking point. I just wanted to make sure that a red book valuation could be carried out without a tangible lease agreement.
I agree the price is too much. I don't mind paying for stuff, but there's paying and then there's having your arm torn off. As it's red book, surely all surveyors keep within the guidelines, therefore they should come in at 'about' a similar price. If anyone's had one done recently, would you mind sharing costs?

Emma

[anonymous-user]

That would be great, I'll send you a message! Thank you

[anonymous-user]

Yes, just the rent. I know, I know, but it's a bit contentious so it needs to be valued according to guidelines. There is an alternative, which I'll probably implement today and will go down like a sh*t sandwich!