Value the freehold interest in a Bed & Breakfast hotel in central London, to enable the owner to upgrade and refurbish the property
The 12-bedroom hotel was arranged over basement, ground and two upper floors but with only six rooms having en-suite facilities
We valued the property in its existing condition and provided additional trading related valuation advice based on improved trading performance – resulting from an extension, as well as the refurbishment programme.
As the refurbishment/extension work had already commenced when we inspected the property, the existing valuation had to consider the:
Costs already incurred on the property
Further investment planned
Impact on the business whilst the refurbishment programme was implemented - the business continued to trade throughout the process.
This enabled the bank to understand how the refurbishment work would improve trade (as all 12 rooms now offered en-suite facilities) and ultimately, the business’s Market Value.
A national bank
Value the freehold interest in a Bed & Breakfast hotel in west London, to enable the owner to buy another property
The 12-bedroom hotel was arranged over basement, ground and two upper floors with all rooms benefitting from en-suite bathrooms
The business was under-trading and we were able to advise the bank of this, the reasons for the under-trading, how it affected trading potential and ultimately its Market Value.
We provided independent verification of what the bank had already suspected and advise how this could be addressed.