42-43 Bedford Row
Daniel Watney was instructed by The Trustees of the 42-43 Bedford Row Trust to provide a valuation for pension purposes.
The property is located in a central and popular Midtown location, a prime legal address on an attractive street near to Gray’s Inn. It comprises two interconnecting, Grade II listed Georgian mid-terraced buildings erected in the late 1600’s by Nicholas Barbon and refronted in 1965 in replica restoration. Originally designed as two town houses, the property now provides offices and ancillary accommodation throughout, although many of the original period features remain.
Our Role
We undertook a full inspection including measurement survey.
Full due diligence and statutory enquiries relating to tenure, condition, environmental considerations, tenant covenant, rateable values and council tax liabilities, planning policy, health and safety and sustainability.
Comprehensive research and data checks to effectively analyse market conditions, trends and recent transactions in support of our valuation.
A full report was provided to the Client outlining our valuation approach and reasoning with key supporting information.
Result
The property is held on a long leasehold interest with a subsequent underlease to a number of barristers. The investment method of valuation was adopted and careful consideration was given to the upcoming rent review.
The property was valued on the basis of Market Value in in accordance with the RICS Valuation – Global Standards effective 31st January 2020 incorporating the UK National Supplement and the IVSC International Valuation Standards (the ‘Red Book’).
