PUBLISHED: 28/12/21
If you are a registered charity and are planning to dispose of property, the 2011 Charities Act requires that the trustees obtain a written report on the proposed sale or lease from a qualified surveyor. This applies to land, property and leases longer than seven years.
The surveyor must be acting solely for the charity and must be a Fellow or Member of the Royal Institution of Chartered Surveyors (RICS) with experience of similar valuations in that area. When conducting a Charities Act valuation, the surveyor’s report needs to cover a number of issues including:
Above all, the surveyor has to recommend how to make optimum use of the property in the best interests of the Charity. It is essential therefore to choose the right surveyor who is experienced in Charities Act valuations when planning the disposal of property or land.
The requirements mentioned in section 117(2)(b) are that the charity trustees must, before entering into an agreement for the sale, or (as the case may be) for a lease or other disposition, of the land:
Copping Joyce have worked with numerous charities over a number of decades and pride ourselves on having longstanding standing relationships with both small and large non – profit organisations.
We are pleased to say we are a recommended Valuer for the Charity Bank and we also are well versed in the requirements of the Charities Act 2011 and regularly carry out Section 117 Charity Act 2011 compliant valuation reports for the disposal of property.
In the last quarter, we have carried out a number of both Red Book Valuations in addition to Charities Act Valuations and we hope our existing relationships with our Charity clients continues to grow.
Further to this, we also have been fortunate enough to advise a number of non-profit organisations on their commercial space including long term strategic advice and asset management.
If you are a non-profit organisation / registered charity and you should you require some initial advice regarding either your commercial accommodation or valuation advice, please don’t hesitate to contact our Valuations Team.