Services

Brownill Bateman undertake Inventory Valuations and Tenancy Changeovers on a nationwide basis.

We are approved 'panel' valuers for the majority of national and regional Breweries and Pub Companies and, as the largest single-firm valuation team operating across the country, we are able to deal both with single instructions or multiple packages irrespective of location within very tight timescales.

Brownill Bateman is made up of six partners, two professional associates and an excellent support team and includes fellows or members of: -

• The Royal Institution of Chartered Surveyors
• The Association of Valuers of Licensed Property
• The Restaurant Property Advisors Society
• The Chartered Institute of Arbitrators
• The Expert Witness Institute
• The Midland Counties Licensed Property Valuers Association
• The Northern Licensed Trade Valuers Association.
• The British Institute of Innkeepers
• The Federation of Licensed Victuallers Associations

The firm is represented on the committees of The Association of Valuers of Licensed Property, The Midlands Counties Licensed Property Valuers Association and the Northern Licensed Trade Valuers Association and all our valuations comply with the requirements of the 'Best Practice Document' laid down by these professional Associations.

We excel, whatever the circumstances, in our specialist field. Our clients are assured of the best possible expertise and attention.

For details of our competitive fee structures and/or to obtain a hard copy of the 'Best Practice Document', or other advice and information, please contact our Inventory Valuation Department. email: fixtures@brownillbateman.com
telephone:0114 290 3303 fax: 0114 275 4971

Inventory Valuation procedures

Once instructions have been received to act in respect of an Inventory Valuation, arrangements will be made for a valuer to visit the premises in order to prepare a detailed 'Draft Inventory'

All items of a trade nature which are utilised in the day-to-day running of that business will be valued and included in the Inventory listing, and will form the basis of a compulsory transaction between the outgoing and ingoing tenants.

Any items which are subject to rental, lease, hire-purchase or loan agreements will not be included within the Inventory, as 'good-title' can not pass from the outgoing tenant.

All Breweries and Pub Companies have different rules as to actual approved Inventory content and Brownill Bateman have a good working knowledge of their company policy in this regard - generally items of a decorative or structural nature such as wall beams or wall panelling, fireplaces or partition screens, are not usually accepted as forming part of the Inventory.

More often than not, any furnishings to the Private Quarters will be treated as 'Optional' items which an incoming tenant is not compelled to purchase.

The Valuation will take into account the age, quality and condition of all the items appearing within the Inventory document, and whilst no guarantees whatsoever can be given to the future efficiency of these items, particular attention is paid to any items in the Valuation which may be affected by Environmental Health and Gas/Electricity Safety Legislations.

In arriving at the overall figure for the Inventory, the valuer will not provide an itemised schedule of each individually priced item as the Inventory is treated as a 'whole' for those particular premises.

Changeover procedures

Unless otherwise instructed, we will arrange for a stock taker also to be in attendance on the day of changeover to carry out the wet and dry stock, glassware, crockery and cutlery valuations.

On the actual day of changeover the valuer will re-attend the premises to check that the Inventory remains in-situ, and that all items are in working condition on that day. It is essential that copies of all the relevant Gas and Electrical Safety Certificates are also available on that day, as without which monies may have to be retained subject to receiving such certificates.

Once all the final figures have been calculated, formal Statements of Valuation will be written, which will incorporate a legal notice to be signed by the outgoing tenant that all the items within the Inventory are his/her property to sell and not subject to any rental, lease, hire-purchase or loan agreements.

Finally, the valuer will oversee the financial transaction between the relevant parties. It should be noted that any monies outstanding between the outgoing tenant and the Brewery or Pub Company will be deducted from the final totals.

Best Practice Document