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How do you arrive at the price per square metre?
We collect details of actual rents paid from occupiers and landlords, which we break down into a price per square metre.
When we analyse the evidence we look at factors like:
- If there are special terms, such as rent free periods
- If there are some parts of the property that are more or less valuable than others. For example, when we analyse the rents of shops, we look at its retail zones
- If there has been a change in the rental value between the date of the rental agreement and the valuation date.
This gives us a range of prices per square metre for:
- The different types of property in the area.
- The different parts of each type of property in the area.
We then apply the price per square metre to each individual property to set the rateable value.