Charities Act Valuation
If you are a registered charity and are planning to sell your property or land (or lease it for longer than 7 years) you need to get a qualified chartered surveyor to provide a Charity Act Report.
Under the 2011 Charities Act, section 119, the trustees must obtain a written report on the proposed sale or lease. The Act sets out some guidelines that the trustees must follow, the main ones being;
The trustees must:
- obtain and consider a written surveyor’s report.
- advertise the disposal as the surveyor advises.
- be satisfied that the terms are the best that can reasonably be obtained for the charity.
The surveyor must:
- be acting solely for the charity.
- be a Fellow or Member of the Royal Institution of Chartered Surveyors (RICS).
- have experience of similar valuations in that area.
When conducting a Charities Act valuation, the surveyor’s report (sometimes known as a Qualified Surveyors Report or QSR) needs to cover a number of issues including:
- the most appropriate method of disposal.
- whether to carry our works prior to a sale.
- the current value.
- how best to advertise the property.
Top Surveyors have dealt with a number of prominent and well known local and national charities over the years. Our experience in Charities Act valuations ensure the trustees receive the right advice to make optimum use of the property in the best interests of the Charity.