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Disposals
If a registered charity is seeking to dispose of land, property or leases longer than seven years then a written report must be obtained from a qualified Chartered Surveyor before entering into an agreement for sale. This is required in order to comply with Section 119 of the Charities Act 2011. The Chartered Surveyor must be acting exclusively for the charitable trust of the property rather than the charity beneficiary.
The report is required to cover a number of issues, including confirming whether – in the opinion of the surveyor – adequate marketing has taken place to ensure that the charity has received the best possible price for the asset concerned.
Failure to follow this procedure can result in an Order from the Charity Commission having to be applied for and achieved before completion of the disposal can occur. This will inevitably extend the time needed for the disposal.
The Charity Commission also recommends that the surveyor should:
- Have considerable experience of the market in the location of where the property or land is situated.
- Understand the factors which affect the value of the property or land within the market.
- Identify which methods of marketing and disposal are most likely to succeed in the market.
Acquisitions
There is currently no requirement to obtain professional advice when trustees propose to acquire land or property (unless such a requirement is in the trust deed). However, the Charity Commission strongly recommends that a report from a qualified Charted Surveyor acting solely for the trustees is obtained.
In any purchase, there are a number of points to be considered including the property’s suitability, legal and/or planning issues and of course whether or not the proposed price is of value to similar properties on the market.
Why Choose Capital Chartered Surveyors?
- The combination of our experience and sector knowledge enables us to advise you on how to make the right decisions.
- We have acted for a number of charities large and small.
- We have a wealth of experience providing reports in these circumstances, giving charities the information they need in a format they can use and easily understand.
- We provide s.119 Charities Act compliant valuation reports to support asset disposals.
- We also provide professional advice including freehold and leasehold valuations.
- Post valuation support is provided by phone and email.
It is essential therefore to choose the right surveyor who is experienced in Charities Act valuations when planning the disposal of property or land.
Areas Covered Include:
- Acton W3
- Balham SW12
- Barnes SW13
- Battersea SW11
- Bayswater W2
- Belgravia SW1
- Belsize Park NW8
- Bow E3
- Brixton SW2
- Camden N1
- Chelsea SW3, SW10
- Chiswick W4
- Clapham SW4
- Clerkenwell EC1
- Crystal Palace SE19
- Ealing W5, W7, W13
- Earls Court SW5
- Finsbury N4
- Fulham SW6
- Hammersmith W6
- Hampstead NW3
- Highgate N6
- Holland Park W11
- Islington N1
- Kennington SW8
- Kensington SW7
- Kilburn NW6
- Maida Vale W9
- Marylebone NW1
- Mayfair W1
- Notting Hill W11
- Oval SW8
- Pimlico SW1
- Putney SW15
- Raynes Park SW20
- Richmond TW9
- Sheen SW14
- Shepherds Bush W14
- Southfields SW18
- St John's Wood NW8
- Stockwell SW8, SW9
- Streatham SW2, SW16
- Tooting SW17
- Vauxhall SW8
- Victoria SW1
- Wandsworth SW18
- Westminster SW1
- Wimbledon SW19
Postcodes covered include:
- SW1-SW20
- W1-W14
- SE1-SE27
- NW1-NW6
- N1-N22
- WC1 & WC2
- EC1-EC4
- E1-E20
- KT1-KT10
- TW9 & TW10
- CR0-CR8