February 2016: Gilbert Evans has recently undertaken garden centre valuations for loan security on behalf of AMC, Handelsbank, Clydesdale Bank and Lloyds Bank.
Allen Evans, partner at Gilbert Evans comments:
“Garden centres are a specialist property category requiring expert market knowledge and a good understanding of how well a garden centre is operating. A valuation is made up of three main elements – land, buildings and trade potential. It is therefore very important that a valuer is used with specialist knowledge of the market to ensure an accurate valuation of any type.
“We advise our garden centre clients who need loan security valuations to check that their bank commissions valuations from garden centre experts and are pleased that some banks recognise that specialist knowledge is needed for accuracy.”