. Allsop is the trading name of Allsop LLP, a limited liability partnership, registered in England and Wales with number OC315531, whose registered office is at: 33 Wigmore Street, London W1U 1BZ. A list of members is available for inspection at this address. Regulated by RICS. Offices in West End, City, and Leeds. Property Consultants Allsop LLP 33 Park Place Leeds LS1 2RY T +44 (0)113 236 6677 F +44 (0)113 243 0682 www.allsop.co.uk Your Ref: TW45BU001 8 March 2018 The Directors PPNL SPV 6 Limited 71 Queen Victoria Street London EC4V 4AY Dear Sirs, 115 HEATHLANDS WAY, HOUNSLOW, MIDDLESEX, TW4 5BU In accordance with your instructions, we have carried out a quarterly desktop valuation of the above mentioned property. On the assumption that there have been no material changes to the property since the original inspection by MAP Chartered Surveyors on 5 January 2015 we are of the opinion that the property’s value (on the Special Assumption of vacant possession) is now in the region of £325,000 (Three Hundred and Twenty Five Thousand Pounds). For the avoidance of doubt, Allsop LLP have not undertaken an inspection of this property, although previous valuation reports, title documents, photos and accompanying documentation have been viewed, and we assume no material changes have occurred since the original surveyor inspection. As such we accept no liability in providing our opinion, nor does the content of this letter meet the requirements of the RICS Valuation Global Standards. Yours faithfully ANDREW M HUNT MA PGDIP MRICS (RICS NO 0103294) Partner For Allsop LLP DL 0113 236 6671 M 07967 829728 E [email protected]
Transcript
. Allsop is the trading name of Allsop LLP, a limited liability partnership, registered in England and Wales with number OC315531, whose registered office is at: 33 Wigmore Street, London W1U 1BZ. A list of members is available for inspection at this address. Regulated by RICS. Offices in West End, City, and Leeds.
Property Consultants
Allsop LLP 33 Park Place Leeds LS1 2RY T +44 (0)113 236 6677 F +44 (0)113 243 0682
www.allsop.co.uk
Your Ref: TW45BU001 8 March 2018 The Directors PPNL SPV 6 Limited 71 Queen Victoria Street London EC4V 4AY Dear Sirs, 115 HEATHLANDS WAY, HOUNSLOW, MIDDLESEX, TW4 5BU In accordance with your instructions, we have carried out a quarterly desktop valuation of the above mentioned property. On the assumption that there have been no material changes to the property since the original inspection by MAP Chartered Surveyors on 5 January 2015 we are of the opinion that the property’s value (on the Special Assumption of vacant possession) is now in the region of £325,000 (Three Hundred and Twenty Five Thousand Pounds). For the avoidance of doubt, Allsop LLP have not undertaken an inspection of this property, although previous valuation reports, title documents, photos and accompanying documentation have been viewed, and we assume no material changes have occurred since the original surveyor inspection. As such we accept no liability in providing our opinion, nor does the content of this letter meet the requirements of the RICS Valuation Global Standards. Yours faithfully
ANDREW M HUNT MA PGDIP MRICS (RICS NO 0103294) Partner For Allsop LLP DL 0113 236 6671 M 07967 829728 E [email protected]
. Allsop is the trading name of Allsop LLP, a limited liability partnership, registered in England and Wales with number OC315531, whose registered office is at: 33 Wigmore Street, London W1U 1BZ. A list of members is available for inspection at this address. Regulated by RICS. Offices in West End, City, and Leeds.
Property Consultants
Allsop LLP 33 Park Place Leeds LS1 2RY T +44 (0)113 236 6677 F +44 (0)113 243 0682
www.allsop.co.uk
Your Ref: TW45BU001 15 December 2017 The Directors PPNL SPV 6 Limited 71 Queen Victoria Street London EC4V 4AY Dear Sirs, 115 HEATHLANDS WAY, HOUNSLOW, MIDDLESEX, TW4 5BU In accordance with your instructions, we have carried out a quarterly desktop valuation of the above mentioned property. On the assumption that there have been no material changes to the property since the original inspection by MAP Chartered Surveyors on 5 January 2015 we are of the opinion that the property’s value (on the Special Assumption of vacant possession) is now in the region of £320,000 (Three Hundred and Twenty Thousand Pounds). For the avoidance of doubt, Allsop LLP have not undertaken an inspection of this property, although previous valuation reports, title documents, photos and accompanying documentation have been viewed, and we assume no material changes have occurred since the original surveyor inspection. As such we accept no liability in providing our opinion, nor does the content of this letter meet the requirements of the RICS Valuation Global Standards. Yours faithfully
ANDREW M HUNT MA PGDIP MRICS (RICS NO 0103294) Partner For Allsop LLP DL 0113 236 6671 M 07967 829728 E [email protected]
Allsop is the trading name of Allsop LLP, a limited liability partnership, registered in England and Wales with number OC315531,
whose registered office is at: 33 Wigmore Street, London W1U 1BZ. A list of members is available for inspection at this address.
Regulated by RICS. Offices in West End, City, and Leeds.
Property Consultants
Allsop LLP 33 Park Place Leeds LS1 2RY T +44 (0)113 236 6677 F +44 (0)113 243 0682
www.allsop.co.uk
Your Ref: TW45BU001 1 September 2017 The Directors PPNL SPV 6 Limited 71 Queen Victoria Street London EC4V 4AY Dear Sirs, 115 HEATHLANDS WAY, HOUNSLOW, MIDDLESEX, TW4 5BU In accordance with your instructions, we have carried out a quarterly desktop valuation of the above mentioned property. On the assumption that there have been no material changes to the property since the original inspection by MAP Chartered Surveyors on 5 January 2015 we are of the opinion that the property’s value (on the Special Assumption of vacant possession) is now in the region of £320,000 (Three Hundred and Twenty Thousand Pounds). For the avoidance of doubt, Allsop LLP have not undertaken an inspection of this property, although previous valuation reports, title documents, photos and accompanying documentation have been viewed, and we assume no material changes have occurred since the original surveyor inspection. As such we accept no liability in providing our opinion, nor does the content of this letter meet the requirements of the RICS Valuation Global Standards. Yours faithfully
ANDREW M HUNT MA PGDIP MRICS (RICS NO 0103294) Partner For Allsop LLP
Head Office: Homebuyer House, 2nd Floor, 142-148 Main Road, Sidcup Kent DA14 6NZ T:0208 300 1144 E: [email protected] W: www.mapsurveyors.co.uk Maitlands Acorn Professional Ltd Registered in England Company No. 5043613
throughout London and the South East
The Directors PPNL SPV 6 Limited 71 Queen Victoria Street London EC4V 4AY Our ref: SD077291 Date: 24th May 2017 Dear Sirs Re: 15 HEATHLANDS WAY HOUNSLOW MIDDLESEX TW4 5BU We refer to your recent instructions requesting us to carry out a desk-top valuation of the above-mentioned property. On the assumption that there have been no material changes to the property since the original inspection on the 5th January 2015, we are of the opinion that the property’s value is now in the region of £320,000 (three hundred and twenty thousand pounds). We trust that the contents of this letter are satisfactory for your purposes. Yours faithfully Holly Allen, MSc MRICS Surveyor MAP Chartered Surveyors
Head Office: Homebuyer House, 2nd Floor, 142-148 Main Road, Sidcup Kent DA14 6NZ T:0208 300 1144 E: [email protected] W: www.mapsurveyors.co.uk Maitlands Acorn Professional Ltd Registered in England Company No. 5043613
throughout London and the South East
The Directors PPNL SPV 6 Limited 71 Queen Victoria Street London EC4V 4AY Our ref: SD074588 Date: 8th March 2017 Dear Sirs Re: 15 HEATHLANDS WAY HOUNSLOW MIDDLESEX TW4 5BU We refer to your recent instructions requesting us to carry out a desk-top valuation of the above-mentioned property. On the assumption that there have been no material changes to the property since the original inspection on the 5th January 2015, we are of the opinion that the property’s value is now in the region of £315,000 (three hundred and fifteen thousand pounds). We trust that the contents of this letter are satisfactory for your purposes. Yours faithfully Holly Allen, MSc MRICS Surveyor MAP Chartered Surveyors
Head Office: Homebuyer House, 2nd Floor, 142-148 Main Road, Sidcup Kent DA14 6NZ T:0208 300 1144 E: [email protected] W: www.mapsurveyors.co.uk Maitlands Acorn Professional Ltd Registered in England Company No. 5043613
throughout London and the South East
Property Partner London 71 Queen Victoria Street London EC4V 4AY Our ref: SD072092 Dear Sirs, DESKTOP VALUATION: 15 HEATHLANDS WAY, HOUNSLOW, MIDDLESEX, TW4 5BU Thank you for your recent e-mail instructions to undertake a Desktop Valuation on the above property previously inspected by ourselves on 5th January 2015. For the purpose of this valuation the assumed date of valuation is 2nd December 2016. As this is a Desktop valuation, we have assumed that the property is in similar condition and layout as to that when inspected on 5th January 2015 and that there have been no material changes. The valuation below is on the same market valuation basis defined as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.” In arriving at the valuation we have considered current market conditions, property readily available on the market and recent agreed sales together with completions. In this respect we value the property in the sum of £285,000 (Two hundred and eighty five thousand pounds) leasehold with vacant possession. We trust that we have supplied you with sufficient information but should you have any queries then please do not hesitate to contact this office. Yours faithfully ELECTRONICALLY SIGNED BY Holly Allen, BA MSc MRICS For and on behalf of MAITLANDS ACORN PROFESSIONAL LIMITED
Head Office: Homebuyer House, 2nd Floor, 142-148 Main Road, Sidcup Kent DA14 6NZ T:0845 63 44 187 E: [email protected] W: www.mapsurveyors.co.uk Maitlands Acorn Professional Ltd Registered in England Company No. 5043613
throughout London and the South East
Property Partner London 71 Queen Victoria Street London EC4V 4AY Our ref: SD069395 Date of Valuation: 6th September 2016 Dear Sirs, DESKTOP VALUATION: 15 Heathlands Way, Hounslow, Middlesex TW4 5BU
Thank you for your recent e-mail instructions to undertake a Desktop Valuation on the above property.
For the purpose of this valuation the assumed date of valuation is 6th September 2016. As this is a Desktop valuation, we have assumed that the property is in reasonable condition and layout.
The valuation below is on the same market valuation basis defined as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.”
In arriving at the valuation we have considered current market conditions, property readily available on the market and recent agreed sales together with completions.
In this respect we value the property in the sum of £285,000 (two hundred and eighty five thousand pounds) with vacant possession.
We trust that we have supplied you with sufficient information but should you have any queries then please do not hesitate to contact this office.
Yours faithfully ELECTRONICALLY SIGNED BY S Ghauri MRICS For and on behalf of
Head Office: Homebuyer House, 2nd Floor, 142-148 Main Road, Sidcup Kent DA14 6NZ T:0845 63 44 187 E: [email protected] W: www.mapsurveyors.co.uk Maitlands Acorn Professional Ltd Registered in England Company No. 5043613
throughout London and the South East
Property Partner London WeWork Moorgate 5th Floor, 1 Fore Street London EC2Y 5EJ Our ref: SD067072 Date of Valuation: 09 June 2016 Dear Sirs,
Thank you for your recent e-mail instructions to undertake a Desktop Valuation on the above property.
For the purpose of this valuation the assumed date of valuation is 09 June 2016. As this is a Desktop valuation, we have assumed that the property is in reasonable condition and layout.
The valuation below is on the same market valuation basis defined as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.”
In arriving at the valuation we have considered current market conditions, property readily available on the market and recent agreed sales together with completions.
In this respect we value the property in the sum of £285,000 (two hundred and eighty five thousand pounds) with vacant possession.
We trust that we have supplied you with sufficient information but should you have any queries then please do not hesitate to contact this office.
Yours faithfully ELECTRONICALLY SIGNED BY S Ghauri MRICS For and on behalf of
Head Office: Homebuyer House, 2nd Floor, 142-148 Main Road, Sidcup Kent DA14 6NZ T:0845 63 44 187 E: [email protected] W: www.mapsurveyors.co.uk Maitlands Acorn Professional Ltd Registered in England Company No. 5043613
throughout London and the South East
Property Partner London WeWork Moorgate 5th Floor 1 Fore Street London EC2Y 5EJ Our ref: SD064895 Date of Valuation: 12 April 2016 Dear Sirs,
Thank you for your recent e-mail instructions to undertake a Desktop Valuation on the above property.
For the purpose of this valuation the assumed date of valuation is 12 April 2016. As this is a Desktop valuation, we have assumed that the property is in reasonable condition and layout.
The valuation below is on the same market valuation basis defined as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.”
In arriving at the valuation we have considered current market conditions, property readily available on the market and recent agreed sales together with completions.
In this respect we value the property in the sum of £283,000 (two hundred and eighty three thousand pounds) with vacant possession.
We trust that we have supplied you with sufficient information but should you have any queries then please do not hesitate to contact this office.
Yours faithfully ELECTRONICALLY SIGNED BY S Ghauri MRICS For and on behalf of
Head Office: Homebuyer House, 2nd Floor, 142-148 Main Road, Sidcup Kent DA14 6NZ T:0845 63 44 187 E: [email protected] W: www.mapsurveyors.co.uk Maitlands Acorn Professional Ltd Registered in England Company No. 5043613
throughout London and the South East
Property Partner London WeWork Moorgate 5th Floor, 1 Fore Street London EC2Y 5EJ Our ref: SD061817 Date of Valuation: 15 January 2016 Dear Sirs, DESKTOP VALUATION: 15 Heathlands Way, Hounslow, TW4 5BU Thank you for your recent e-mail instructions to undertake a Desktop Valuation on the above property.
For the purpose of this valuation the assumed date of valuation is 15 January 2016. As this is a Desktop valuation, we have assumed that the property is in reasonable condition and layout.
The valuation below is on the same market valuation basis defined as “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.”
In arriving at the valuation we have considered current market conditions, property readily available on the market and recent agreed sales together with completions.
In this respect we value the property in the sum of £282,000 (two hundred and eighty two thousand pounds) with vacant possession.
We trust that we have supplied you with sufficient information but should you have any queries then please do not hesitate to contact this office.
Yours faithfully ELECTRONICALLY SIGNED BY S Ghauri MRICS For and on behalf of
Head Office: Homebuyer House, 2nd Floor, 142-148 Main Road, Sidcup Kent DA14 6NZ T:020 8300 1144 E: [email protected] W: www.mapsurveyors.co.uk Maitlands Acorn Professional Ltd Registered in England Company No. 5043613
throughout London and the South East
Property Partner London WeWork Moorgate 5th Floor 1 Fore Street London EC2Y 5EJ Our ref: SD059317 Your Ref: Date: 21st October 2015 Dear Sirs, Re: 15 Heathlands Way, Hounslow, Middlesex TW4 5BU We refer to your recent instruction dated 15th October 2015 to carry out a desktop valuation of the above mentioned property.
On the assumption that there have been no material changes to the property since the previous Home Buyer Report of the 5th January 2015 (undertaken by Bramptons – 0208 974 1535) and desktop valuation of 30th April 2015 (undertaken by Bramptons) and our previous desktop valuation dated 17th July 2015 we are of the opinion that the property’s value is in the region of £272,000 (Two hundred and seventy two thousand pounds). We trust that the contents of this report are satisfactory for your purposes. Yours faithfully ELECTRONICALLY SIGNED BY Robin Symondson BSc MRICS For and on behalf of
PPNL SPV 2 Limited 16 Cole Street Ref: DA/val/ppnl London SE1 YH
Dear Sirs, RE: 15 HEATHLANDS WAY, HEATHLANDS PARK, HOUNSLOW, MIDDLESEX, TW4 5BU Further to your instructions to provide a ‘Desktop’ Market Valuation in respect of the above property we report as follows: PURPOSE & DATE OF VALUATION We understand that the valuation is required to establish the current Market Value (MV) for Accounts purposes and the date of valuation is the date of this Report. INTEREST TO BE VALUED We understand that we are to value the Freehold Interest with vacant possession. SITUATION & DESCRIPTION The subject property comprises of a terraced town house built we believe about 25 years ago by Crest Homes amongst similar style flats and town houses in a cul- de- sac off of Frampton Road close to the Bath Road and Hounslow West Tube (Piccadilly Line). The house is constructed of brick/render under a pitched tiled roof with off street parking and a garden and has been updated by the owning company since its purchase. Accommodation Ground Floor – Entrance Hall Living Room
Kitchen First Floor
Bedroom 1 Bedroom 2
Bathroom/WC Gross Internal Area (GIA) 52sq m’s (560 sq ft)
2
Outside – Gardens to rear and off- street parking. Services – Mains electric and water are connected to this property. CONDITION No Building Survey nor any test of the services has been carried out and so no warranties as to its overall condition can be given but a HomeBuyer Report was carried out prior to purchase in January 2015. Since that time we understand that some quite substantial improvements have been carried out to the house along with general decoration. The property is valued on the basis that it’s overall state of repair and condition has not deteriorated since our inspection in January 2015. PLANNING We have made verbal enquiries of the local planning department and confirmed that the existing planning consent is for residential use. COUNCIL TAX Hounslow Council Council Tax Band ‘D’ VALUATION We are of the considered opinion that the Market Value of the Freehold interest with vacant possession can be fairly represented in the sum of:-
£270,000 Freehold
(Two Hundred & Seventy Thousand Pounds)
DEFINITION OF MARKET VALUE (MV)
The estimated amount for which a property should exchange on the date of valuation between a
willing buyer and a willing seller in an arm’s-length transaction after proper marketing, wherein the
parties had each acted knowledgeably, prudently and without compulsion.
ASSUMPTIONS AND LIMITATIONS
1 We confirm that the valuation has been carried out in accordance with the current practice
statements, guidance notes and appendices of the latest edition of the RICS Appraisal &
Valuation Standards (the ‘Red Book’).
3
2 The Valuer is an external Valuer as defined in the ‘Red Book’. The valuation method
adopted is the comparative method and we have regard to details of similar properties which
have sold recently or are currently available.
3 Our Valuation has had regard to the apparent state of repair and condition of the property
but a Building Survey has not been carried out and parts of the property covered, unexposed
or inaccessible have not been inspected. Such parts are assumed to be in a state of repair
commensurate with the age and type of building. The Valuer is not under a duty to arrange
for the testing of electrical, heating or other services.
4 We have not carried out any investigations to past or present uses of the property or any
neighbouring land to establish whether there is any contamination or potential for
contamination to the subject property from these uses or sites and have, therefore, assumed
that none exist. Should it be established, however, subsequently, that contamination,
seepage or pollution exists at the property or on any neighbouring property or that the
property has been or is being put to a contaminative use this might reduce the value now
reported.
5 We have assumed that the property contains no deleterious substances or materials. Unless
we are otherwise informed our valuation is on the basis that no such defects exist.
We cannot warrant that the grounds and gardens are free of any invasive plant such as
Japanese Knotweed and would refer you to a specialist survey in that regard.
6 Our valuation has been assessed made upon the assumption that no alterations are required
under the Disability Discrimination Act as amended.
7 We confirm that we are not aware of any conflict of interest in carrying out a valuation of
this property.
8 That good title can be shown and that the property is not subject to any unusual or especially
onerous restrictions, encumbrances or outgoings.
9 The property and its value are unaffected by any matters which would be revealed by a local
search and replies to the usual enquiries, or by any statutory notice, and that neither the
property, nor its condition, nor its use, nor its intended use, is or will be unlawful.
4
10 That inspection of those parts which have not been inspected would neither reveal material
defects nor cause the Valuer to alter the valuation materially.
11 That no radon gas is present at the property.
12 That the building complies with all statutory requirements including the Fire Risk
Assessment and the Control of Asbestos at Work Act.
PRIVITY OF REPORT
This report is provided for your sole use. It is confidential to you and your professional advisers.
We accept no responsibility whatsoever to any other parties. Any such parties rely upon the report
at their own risk.
Neither the whole nor any part of this report or any reference to it may be included in any published
document, circular or statement nor published in any way without our written approval of the form
and context in which it may appear.
Yours faithfully,
D. Ambrose, MRICS Bramptons
Property address 15 Heathlands Way Hounslow Middlesex TW4 5BU
Client's name PPNL SPV 2 Limited
Date of inspection 5th January 2015
RICS is the world's leading qualification when it comes to professional standards in land, property and construction.
In a world where more and more people, governments, banks and commercial organisations demand greater certainty of professional standards and ethics, attaining RICS status is the recognised mark of property professionalism.
Over 100,000 property professionals working in the major established and emerging economies of the world have already recognised the importance of securing RICS status by becoming members.
RICS is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity providing impartial, authoritative advice on key issues affecting businesses and society.
The RICS HomeBuyer Report is reproduced with the permission of the Royal Institution of Chartered Surveyors who owns the copyright.
A Introduction to the report B About the inspection C Overall opinion and summary of the condition ratings D About the property E Outside the property F Inside the property G Services H Grounds (including shared areas for flats) I Issues for your legal advisers J Risks K Valuation L Surveyor's declaration What to do now Description of the RICS HomeBuyer Service Typical house diagram
This HomeBuyer Report is produced by an RICS surveyor who has written this report for you to use. If you decide not to act on the advice in this report, you do this at your own risk.
The HomeBuyer Report aims to help you:
make a reasoned and informed decision on whether to go ahead with buying the property;
make an informed decision on what is a reasonable price to pay for the property;
take account of any repairs or replacements the property needs; and
consider what further advice you should take before committing to purchase the property.
Any extra services we provide that are not covered by the terms and conditions of this report must be covered by a separate contract.
If you want to complain about the service, please refer to the complaints handling procedure in the 'Description of the RICS HomeBuyer Service' at the back of this report.
We inspect the inside and outside of the main building and all permanent outbuildings, but we do not force or open up the fabric. We also inspect the parts of the electricity, gas/oil, water, heating and drainage services that can be seen, but we do not test them.
To help describe the condition of the home, we give condition ratings to the main parts (the 'elements') of the building, garage and some parts outside. Some elements can be made up of several different parts.
In the element boxes in parts E, F, G and H, we describe the part that has the worst condition rating first and then briefly outline the condition of the other parts. The condition ratings are described as follows.
The report covers matters that, in the surveyor's opinion, need to be dealt with or may affect the value of the property.
Important note: We carry out only a visual inspection. This means that we do not take up carpets, floor coverings or floorboards, move furniture or remove the contents of cupboards. Also, we do not remove secured panels or undo electrical fittings.
We inspect roofs, chimneys and other surfaces on the outside of the building from ground level and, if necessary, from neighbouring public property and with the help of binoculars.
We inspect the roof structure from inside the roof space if there is access (although we do not move or lift insulation material, stored goods or other contents). We examine floor surfaces and underfloor spaces so far as there is safe access to these (although we do not move or lift furniture, floor coverings or other contents). We are not able to assess the condition of the inside of any chimney, boiler or other flues.
We note in our report if we are not able to check any parts of the property that the inspection would normally cover. If we are concerned about these parts, the report will tell you about any further investigations that are needed.
Defects that are serious and/or need to be repaired, replaced or investigated urgently.
Defects that need repairing or replacing but are not considered to be either serious or urgent. The property must be maintained in the normal way.
No repair is currently needed. The property must be maintained in the normal way.
Not inspected (see 'Important note' below).
We do not report on the cost of any work to put right defects or make recommendations on how these repairs should be carried out. Some maintenance and repairs we suggest may be expensive.
Please read the 'Description of the RICS HomeBuyer Report Service' (at the back of this report) for details of what is, and isnot, inspected.
This section provides our overall opinion of the property, and summarises the condition ratings of the different elements of the property.
If an element is made up of a number of different parts (for example, a pitched roof to the main building and a flat roof to an extension), only the part in the worst condition is shown here.
Our overall opinion of the property
To make sure you get a balanced impression of the property, we strongly recommend that you read all sections of the report, in particular the 'What to do now' section.
Heathlands Way is a development of fairly modern properties within a culdesac built by Crest Homes situated off of Frampton Road close to Hounslow Heath. The property is approximately 25 years old and forms a two storey mid terraced house of five properties with forecourt parking and gardens to both front and rear. The property is in need of some maintenance and repair which we will discuss within the main body of the report. We also noted that the tile hanging to the left hand adjoining property has come away at the apex (visible from the subject properties rear garden). We would recommend that the owners of 14 Heathland Way are made aware of this point as it should be rectified immediately to prevent water ingress which could affect the loft space/habitable rooms of the subject property. Access will be required from the subject properties demise. The property at the agreed purchase price represents good value in our opinion in the current market and in some way reflects the timing of the purchase and method of sale by auction. There are some minor works needed to bring it up to a good condition such as decoration, some updating of the electrics, flooring and modernising the kitchen and bathroom. If these works were carried out we would expect the property to command a market value of around £265,000. There is a reasonable demand for rental property in the area. Looking at similar comparable properties we would estimate that it should rent for around £1,100 1,200 pcm if put in good order.
Section of the report Element number Element name
E Outside the property E8 Other Joinery & Finishes
The main walls are brick and render with dry lining under a pitched timber framed roof covered with a pantile. The floors are a combination of solid concrete screed and suspended timber and the windows are single glazed painted timber units.
Energy We have not prepared the Energy Performance Certificate (EPC). If we have seen the EPC, then we will present the ratings here. We have not checked these ratings and so cannot comment on their accuracy.
We are advised that the property's current energy performance, as recorded in the EPC, is:
Mains services The marked boxes show that the mains services are present.
Central heating
Other services or energy sources (including feedin tariffs)
Grounds
Location
Energyefficiency rating D Solicitors to advise
Environmentalimpact rating
Solicitors to advise
Gas Electricity Water Drainage
Gas Electric Solid fuel Oil None
None
The property is situated mid terrace of five properties on a relatively flat site with off road parking for one car to the front and rear garden comprising of paved area, lawn and shed with timber fenced boundaries.
The subject property is part of the Heathside Park Development built in the 1990s amongst similar style properties. Heathlands Way is a culdesac turning off of Frampton Road which in turn is off A315 Staines Road and on the edge of Hounslow Heath. It is a little distance from local shops and the nearest station being Hounslow (Overground) and Hounslow Central (Underground). There is also frequent noise caused by planes flying overhead with Heathrow Airport within close proximity.
As we mentioned, it is a little distance from the local shopping and overground/underground stations at Hounslow. There are good road links via the A315 Staines Road to the A4 and M4 motorway. There are good schools within the area and local recreational facilities nearby in Hounslow Heath.
Your solicitors will do the normal searches and enquires and provide an environmental report upon the surrounding area. We are no aware of any specific issues affecting the subject property but your solicitors will inform you on this point.
Asbestos may be present for example in roofing felts, boarding materials externally and internally, textured surface finishes and floor tiles. The exact nature of the material can only be determined by laboratory testing and there are potential health risks stemming from the inhalation of asbestos fibres and working with this material. Further advice is available from the Local Authority or the Health & Safety Executive. Specialist advice should be sought before carrying out any work to these components. The cost of removal of asbestos would be high if discovered. See Section J3 Risks.
E1Chimney stacks
There are no chimney stacks to the subject property.
E2Roof coverings
The property is approximately 25 years old and is constructed by way of a pitched timber framed roof that is covered with the original pantile covering which was seen to be generally in good condition. The front roof slope is set slightly higher than to adjoining properties which leaves part of the flank elevations exposed (to the apex) weathered in tile hanging and render screed. We noted whilst viewing from the rear garden that the flank of the adjoining left hand property (Number 14 Heathlands Way) is damaged and requires repair. It appears that the timber battens supporting the tiles have come away which has caused some disturbance to the tiles which are left unsupported in some areas. We would recommend that this is brought to the adjoining owner's attention as immediate repair is recommended to prevent water ingress internally which may affect both properties. Such works would require access from the subject properties demise as no view is possible from No 14. It is recommended that this be inspected by competent roofing contractor and quotations obtained for all remedial works. There are no obvious areas of water penetration internally at current time as a result of this defect although it is recommended that this be cured immediately to prevent the risk of defects developing. The loft space has gypsum plasterboard to either side which we noted exhibited water staining and it was noted that it felt quite damp within the subject property as it has been unoccupied within recent times. We tested the areas with our moisture meter which gave midhigh damp readings and it is likely that condensation and/or lack of heating within recent times has caused such defects. It is unlikely that defects in the roof covering has caused water penetration as the staining would be more severe and we would not expect there to be a serious problem with a property of this age. We noted some slight cracking of the parging or cement work to the edges of the roof but this is fairly normal and not of particular significance. To the front of the property is an original porch with lean to roof covered in a concrete tile and weathered with a lead flashing where it joins the front wall of the house which was again in reasonable condition. It was noted that there was an abundance of moss and lichen staining the main roof and porch roof which ideally should be cleared away but is almost an inevitability with properties of this type and age.
The rain water disposal system comprises of plastic gutters draining rain water to square plastic down pipes to ground gullies. They generally appear to be in reasonable condition apart from to the front elevation where the down pipe has dropped from the running outlet. We noted that the neighbouring property has tape around their downpipe which indicates a common defect in this regard. There is staining to the render at low level which denotes that water splashes from the ground as a result of this configuration. We would suggest that this is remedied immediately which may require additional brackets to secure the down pipe in position. It was not raining during the course of our inspection and therefore we could not see the guttering system in full operation but it is relatively minor to replace guttering in any event should this become necessary. We noted blockages within adjoining properties gutters and would recommend that the gutters are regularly cleared to prevent blockages occurring. There is no gutter to the porch roof which will cause dampness to the surrounding area and can contribute to moss and lichen which will make the path very slippery. You may wish to consider installing a rain water disposal system in this area.
E4Main walls
The main walls to the property comprise of fair faced stretcher brickwork and a cavity and then a timber dry lining system internally for speed of construction and drying times normally incorporating some form of insulation to the void. It is a fairly common form of construction with modern houses but the walls do not have the strength of traditional brick cavity or solid brick walls. The walls are rendered and painted to both elevations with partial tile hanging to the flank apexes. We have already mentioned the apex of the neighbouring roof and the fact that part of the timber batten and tile cladding has come away and requires urgent repair. As a precautionary measure we would recommend that enquires are made of the vendors' solicitors to enquire as to whether or not there have been any claims in the past for any form of ground movement or subsidence. There is some hairline cracking to the rendered elevations, most notably above the door and window headers which is quite normal in properties of this age and indicative of general settlement. We would recommend you budget for some render repairs at time of decoration as quite often loose or 'blown' sections of render tend to come away when cutting out cracks to a vnotch. It would assumed that the house was built on normal concrete foundations normally to a minimal depth of at least one metre which would have been approved by the Local Authority Building Inspector at that time and subsequently passed. There are brick soldier courses over windows and bull nose bricks forming sills. We noted that the render at low level and also above the rear doors sweeps out to deflect rain water which is a good building detail. As we have pointed out, there is a leaking gutter/down pipe to the front elevation which we suspect has caused/contributed to dampness and staining of the render beneath the kitchen window and the rain water disposal system needs to be repaired. The rendered elevations would greatly benefit from decoration in due course, together with any repairs to the cracked sections. The property would have incorporated a bitumen damp proof course (DPC) which is a
horizontal impervious layer laid in the brickwork to inhibit the passage of moisture being drawn from the sub soil which could cause damp internal conditions and this appeared to be functioning reasonably well following our internal inspection. The DPC is not visible due to the render but is likely set above the top course of exposed brickwork which is evident at low level. We saw no undue signs of any major through cracking or bulging of the brickwork which appeared to be generally in good condition. We noted that there are brick quoins (corners) to the front elevation providing some architectural interest. There are large plastic vents to both front and rear elevations which serve individual Silavent Freshflo ventilator units within habitable rooms. These units are quite dated now and have not been tested.
E5Windows
The windows comprise of single glazed painted/stained units and were all in fair condition generally but could be greatly improved in terms of security and thermal qualities. The windows require decoration as a minimum. There were of course installed at the time of construction of the property but are relatively basic in terms of style and locking mechanisms. Modern double glazed units would greatly improve the thermal qualities and security to the property which should be considered in the long term particularly as there is heavy noise pollution from frequent overhead planes. There are aluminium secondary glazed panels fitted to the inner side which improves the thermal efficiency slightly although these again are fairly basic/dated.
E6Outside doors
(including patio doors)
The external doors comprise of the front door which is a timber panelled door of average quality and is quite lightweight. It could certainly be improved with a more robust solid unit although it does have additional bolt locking mechanisms for security. Some attention is required around the letterbox which is missing. There is a stained timber door to the external store cupboard housing the electrical incoming supply and meter. There are rear timber double glazed sliding doors from the living room giving access to the garden which are very difficult to operate and require adjusting. Similar comments apply to the secondary glazing internally which are also stiff to open. The condition of the doors is reasonable although some adjustment is required if you plan to retain these units. The quality of the units could be greatly improved both in terms of thermal efficiency and security.
E7Conservatoryand porches
There is a timber framed leanto roof to the front of the property forming a storm porch supported at either side of timber gable brackets fixed to the front wall. The roof has an abundance of moss which required clearing together with consideration for a gutter which would prevent rainfall discharging directly to the ground. The roof tiles are weathered with lead flashing to the front wall which is a good material.
E8Other joineryand finishes
As already touched upon, we noted that some repair is necessary to the tile hanging of the apex to the left hand adjoining property which may affect the subject property if left unrepaired. We would recommend the adjoining owner is made aware of such defect and quotations obtained immediately for remedial action. We give this a condition rating three
as it may affect the subject property. The soffit boards and fascias do not appear to have been treated/decorated within recent times and would benefit from some wood treatment in the near future..
E9Other
None other than where already mentioned in the report.
Material containing asbestos are present in many buildings of this age, often enclosed and unexposed. Asbestos may be present in roofing felt, floor tile, boarding materials externally and internally, textured surface finishes and tiling. The exact nature of the material can only be determined by laboratory testing. There are potential health risks stemming from the inhalation of asbestos fibres and from working with this material. Major works or removal can only be carried out by licensed contractors. Further advice is available from the Local Authority or the Health & Safety Executive. Specialist advice should be sought before carrying out any works to these components. The cost of removal may be high. See Section J3 Risks.
F1Roof structure
The structure of the roof could be seen from the roof hatch situated on the landing but there is no ladder or light. The roof space is not boarded which is recommended for ease of access and light storage goods. We noted some glass fibre insulation but it is now recommended that at least a thickness of 270 mm of glass fibre be installed and this present insulation probably does not quite meet this standard but this is not a major issue. Within the roof void we noted that the intervening fire break walls are built up in what is likely block work with plasterboard drylining which as already noted exhibits some water/condensation staining. The property has been vacant in the short term and it is likely that general condensation and lack of heating has caused such staining. We tested the areas with our moisture meter in case there were more serious causes such as roof defects but the readings were midhigh range which denotes it is likely caused by condensation/insulation issues rather than anything more serious. As we have already touched upon, it is important that the defective tile hanging to the adjoining property is cured immediately in case there is water penetration as a result. The underside of the tiles are lined in mineral felt which obscures view of the tiles and their condition. It is not obvious to state whether there are any defects with the roof covering but there was nothing obvious whilst viewing externally and no obvious water ingress noted within the roof void. There is a large plastic cold water tank with lid together with some lagging which has come loose and lagged water pipes. We would recommend this tank is lagged. As we have said, the underside of the roof is lined with a mineral felt which acts as a secondary layer to any slight leakage from the roof and also provides further insulation. We noted there is also an aerial set within the roof together with lots of decorating material and possessions which requires clearing. The roof frame comprises of a typical system built roof frame meaning that it has been built offsite and then craned into position comprising of an A frame with timber strutting and joists gangnailed together at fairly close centres providing the structural stability to support the timber battens and pantiles. This is a recognised form of roofing for modern housing which although is good from a developers view point in that it speeds up the process of building the house it does create obstacles within the roof space itself for storage purposes. Having said that, many modern houses do not advocate the storage of heavy
goods within the loft and it would be worthwhile you making enquiries of the vendors to see whether they have the original developers' information pack which might give some information relating to the use and maintenance of the property. We are assuming that for these purposes the original developers' guarantee is now out of time but again this point should be checked.
F2Ceilings
The ceilings within the property comprise of modern plasterboard with a textured artex finish. There is some hairline cracking to them and also some general scuff marks requiring decoration as would be expected but generally the ceilings' condition was reasonable. That said, we did note a section of ceiling in the living room adjacent to the kitchen partition that has come loose and requires refixing/repair. We would point out to you that some artex ceilings contain a miniscule amount of asbestos fibre prior to 1985 but in any case, this is only really a problem should there be any deterioration to the condition of the ceiling or any work was being undertaken that would make the ceiling break up. We mention this simply as a precautionary measure and do not think that it is particularly relevant to this property, particularly if it was constructed in the 1990s.
F3Walls and partitions
The internal walls and partitions comprise of timber stud construction with plasterboard and skimmed plastered surfaces and were generally in acceptable condition throughout the property although would greatly benefit from decoration throughout. The external walls have been dry lined which is a system of plasterboarding as previously mentioned for speed of construction and there is some hairline cracking and scuff marks in places which requires some repair and decoration but generally these were reasonable. Many of the rooms are lined with loose seams evident in areas which require decoration. It is always prudent to budget for some plaster repairs when removing paper coverings. The property is a little out dated now and could be improved with new bathroom and kitchen suites which would also include associated tiling and decorations. There are Silavent Freshflo ventilators within habitable rooms which are quite dated and if these are retained, it is important that they are cleaned as we noted some signs of condensation near external walls which denotes inadequate heating system, poor insulation and/or lack of effective ventilation.
F4Floor
The ground floor comprises of a solid concrete/cement screed which is covered in either vinyl or wood laminate which appears to have been laid over existing carpet which is not ideal and creates a springiness throughout. We also noted that at first floor level, the laminate raises in places which denotes a cheap quality of laminate used as tongue and groove laminate should not be able to do so as it is locked into place. The flooring was generally level but of course our view was restricted by fitted floor coverings. The first floor comprises of a suspended timber construction again covered for the most part with laminate on suspect carpeted base and similar comments apply. The flooring could be greatly improved throughout the property.
kitchen and other fittings,not including appliances)
Kitchen there is a range of fairly basic cupboards to the kitchen and it would be worthwhile checking with the vendors to find out which appliances will remain on your purchase. The extractor hood above the electric cooker and hobs does not vent externally which should be altered. The kitchen would benefit greatly from a new suite including modern integrated appliances and fittings. The current configuration appears serviceable although no test of the appliances has been carried out. There is an external storage area where the electrical incoming supply and meter is situated. There are limited storage units to the ground floor and there are basic freestanding units to the main bedrooms with some furniture items which will require clearing if not retained. There is a further storage cupboard over the stairs in the front bedroom which houses the economy seven hot water cylinder and programmer.
F7Woodwork (for
example, staircaseand joinery)
The woodwork comprises of the doors, door frames, skirting boards, window sills and work surfaces. There are plain doors which are not very expensive variety and we noted some damage to the front bedroom door which will require repair. There are pen marks to the living room door which requires decoration/cleaning. The kitchen door does not close properly and requires adjusting. There is a part spindled staircase leading to the first floor with some slight flexing to the stair treads which should be repaired or additionally supported at time of floor covering renewal. The windows and living room doors have aluminium secondary glazed units to the inside providing improved insulation although these are quite dated variety and the glazing could be generally improved throughout the property with modern double glazed units as already mentioned in this report. Generally speaking the internal joinery items could be greatly improved in terms of quality and variety.
F8Bathroom fittings
Some improvements could be carried out to the bathroom as the suite is dated and there is mould to the mastic sealant which requires renewal. The WC does not flush properly and the taps to the hand basin are stiff to operate. There is a shower attachment off of the bath taps which have a reasonable water pressure. The power was not working to the first floor at time of inspection and we were not able to test any of the electrical items. There is a dated wall mounted Dimplex heater and light which has a cover to it although we would recommend an alternative sealed unit installed which is more suitable for wet room use where steam is prevalent. We also have reservations about the fan extractor unit in the ceiling which is now quite old and clearly does not reduce the build up of condensation as mould growth is noted to the ceiling. Being an internal bathroom, it is important that an efficient fan extractor is in operation as there are no windows to provide ventilation. We would suggest that you have a suitably qualified contractor provide quotation for full suite renewal.
Services are generally hidden within the construction of the property. This means that we can only inspect the visible parts of the available services, and we do not carry out specialist tests. The visual inspection cannot assess the services to make sure they work efficiently and safely, and meet modern standards.
Limitations to inspection
We have not conducted any tests of individual services and therefore cannot warrant that these are free from defects. Where we have recommended testing of the services, this must be carried out by suitably qualified engineers.
G1Electricity
Safety warning: The Electrical Safety Council recommends that you should get a registered electrician to check the property and its electrical fittings at least every ten years, or on change of occupancy. All electrical installation work undertaken after 1 January 2005 should have appropriate certification. For more advice contact the Electrical Safety Council.
The property is connected to the main electrical supply and the meter is situated externally in a cupboard to the right hand wall and the fuse board is situated internally in the hallway. The wiring we assume would be original and therefore by definition 2025 years old or so and there is some updating required to the system. The first floor power was not working at time of inspection which requires immediate inspection and remedy. We had no sight of any electrical test certificate and we would recommened that you make enquiries of the vendors to ascertain whether any electrical work has been carried out within recent times. There is a system of electrical storage heaters to provide heating and it is evident that some of these have been renewed at some stage. The storage heaters are normally wired into separate circuits but these particular heaters which are manufactured by Messrs. Sunhouse and Dimplex appear to work on a demand system when heating is required and not on offpeak electricity (Economy seven) which is often the case. We would recommend that an electrician does inspect the electrical installation to provide a report with any recommendations and likely costs for updating. We have pointed out to you that the lighting is within the bathroom area could be improved which needs to be changed to a sealed unit. There is also an intruder alarm system with a mains box in the cupboard over the staircase. The control panel in set on the front wall in the hallway with sensors positioned within habitable rooms although it would appear that this system does not work. Again, an electrician should report on this point. There are also battery smoke alarms and a carbon monoxide alarm which were not tested. We would recommend modern units wired onto mains supply. Further investigation required.
G2Gas/oil
Safety warning: All gas and oil appliances and equipment should regularly be inspected, tested, maintained and serviced by a registered 'competent person' and in line with the manufacturer's instructions. This is important to make sure that the equipment is working correctly, to limit the risk of fire and carbon monoxide poisoning and to prevent carbon dioxide and other greenhouse gases from leaking into the air. For more advice contact the Gas Safe Register
for gas installations, and OFTEC for oil installations.
No gas supply noted.
G3Water
The property is connected to the main water supply and there is a stop cock under the kitchen sink. The property is not water metered. The connections that we saw were in copper with plastic waste pipes and the water pressure appeared to be fair at the various supply points in the kitchen and bathroom although the sanitary ware and fixtures could be greatly improved. It is always prudent to budget for replacement of some pipes and valves when altering the wet room configurations and you should budget accordingly. There is a plastic cold water tank in the loft space that ideally should be properly lagged supplying the WC and bath and the storage of hot water is achieved by way of a lagged hot water tank that is situated in the airing cupboard above the stairs in the front bedroom. This tank has two electrical immersion heaters working on an economy seven system which optimises off peak electricity. There is a programmer set within the cupboard. We understand that the storage heaters are turned on as and when required and the sole form of heating the hot water is by way of the immersion heaters. If you wish to retain such a system, we would recommend that you have it tested to ensure it is fully operational together with any repairs quoted for. Such works should be carried out in cooperation with the heating system which we refer to in the next section.
G4Heating
The property is heated by way of electric storage heaters working on a demand basis so that they have to be turned on when you wish to heat a room. The property is relatively small and therefore can be heated fairly quickly we suspect but it would be worthwhile checking the general level of annual expenditure on electricity. More often storage heaters run on off peak electricity which keeps the costs relatively low and there is an economy seven programmer in the front bedroom cupboard. It is not known whether the storage heaters work in conjunction with this programmer or work entirely on a demand system and this point should be clarified. By definition some of the heaters are nearly 30 years old and it is quite probably that some of these are nearer the end of their economic lifespan. We did not see the system working and we would recommend that you do budget for some replacement of these heaters within a fairly short period of time. Ideally we would have these inspected by a suitable approved contractor. As we have mentioned above the electric immersion heaters are the sole method of heating water. There is an economy seven programmer in the front bedroom cupboard for this operation. There does not appear to be any other type of controls other than those actually on the individual heaters themselves. The heating system could undoubtedly be improved with more modern style of heaters which you may wish to consider in the short to medium term.
G5Water heating
As previously mentioned the electric immersion heaters are the sole method of heating water and we have made associated recommendations. Further investigation required.
Below Ground Level the property is connected to the main underground drain system within the road and we would recommend that your solicitor does check that the drainage has been adopted by the Local Authority which we understand to be the case. Soil and waste water and drained within a plastic soil and vent pipe (SVP) contained within ducting which discharges into the underground drains. The SVP is visible in the kitchen and also the loft space where it vents through the roof. There is a manhole situated to the front forecourt which we managed to lift and the inspected chamber with three inlets with no blockages and the system appeared to be running reasonably clear. We noted some cracking around the manhole and minor undulation which should be repaired in due course We would recommend that your solicitor does make enquiries of the vendor to ascertain that there have been no problems with blockages or other problems within recent times. No drainage test has been carried out and the structural integrity of the system can only be verified and confirmed by way of a CCTV survey. We do not feel that this should be warranted but would recommend that the enquiries we have suggested are made. Above Ground Level the bathroom and toilet fittings are connected to the soil and vent pipe and run within a duct internally draining into the underground sewerage system. We have recommended that the sanitary items are renewed which will incur some works attaching to the existing SVP.
There is no garage to the property but there is forecourt parking for one car on the driveway and further unrestricted parking available on the road.
H2Other
Externally there is an integral meter cupboard which was in good condition although many stored items/possessions obscured clear view.
H3General
The front comprises of forecourt for off road parking (one vehicle) and a paved path leading to the front door. The front and left hand boundaries are open with a painted metal railing to the right hand side. There is a gate to the rear of the property which was not opened as there is a large concrete slab directly in front of the door. There are brick and timber fenced boundaries. We noted that a section of fencing to the right hand boundary has fallen and requires repairing/replacing. There is also a locked shed which has tarpaulin to the roof indicating that this roof leaks. It would be prudent to budget for some repairs to this shed if you plan to retain it. The garden comprises of a small paved patio and grass lawn. There is a cracked paving stone which should be replaced. Your solicitors will confirm to you the extent of your demise and which boundaries are your responsibility which is particularly relevant as some repair is necessary.
We do not act as 'the legal adviser' and will not comment on any legal documents. However, if during the inspection we identify issues that your legal advisers may need to investigate further, we may refer to these in the report (for example, check whether there is a warranty covering replacement windows).
I1Regulation
We would recommend that your solicitors check that the property complies in all respects with statutory requirements and regulations including both planning and building regulation consent.
I2Guarantees
We are not aware that there are any guarantees in existence for the property but it would be worthwhile your solicitors confirming particularly with reference to the alarm system which did not appear to be functioning.
I3Other matters
We understand that the property is Freehold but your solicitor will confirm. We would recommend that your solicitors confirm which boundaries are your responsibility. We would also draw to your attention the following matters: F6 Kitchen appliances you should check and confirm which kitchen appliances will form part of the sale together with any fixtures and fittings. G6 Drainage confirm that it has been adopted by the Local Authority. H3 Roads confirm that the roads have been adopted by the Local Authority. H3 Boundary Ownership confirm which boundaries belong to you.
This section summarises defects and issues that present a risk to the building or grounds, or a safety risk to people. These may have been reported and condition rated against more than one part of the property or may be of a more general nature, having existed for some time and which cannot be reasonably changed.
J1Risks to the building
In terms of the risks to the building we would draw to your attention the following items: G1/G4/G5 Electrical system and Heating/Hot water we have recommended that an electrical test certificate be obtained from a suitably qualified electrician.
J2Risks to the grounds
We are not aware of any particular risks in this regard but your solicitors will advise following an environmental report.
J3Risks to people
E6 Outside Doors we recommend that you check that the patio doors incorporate safety glass and are Kite marked. G1 Electrics there is a lack of a test certificate that needs to be remedied. G4/G5 Heating/Water Heating we have made recommendations in this regard.
In my opinion the current reinstatement cost of the property (see note below) is:
(amount in words)
In arriving at my valuation, I made the following assumptions. With regard to the materials, construction, services, fixtures and fittings, and so on I have assumed that:
an inspection of those parts that I could not inspect would not identify significant defects or a cause to alter the valuation; no dangerous or damaging materials or building techniques have been used in the property; there is no contamination in or from the ground, and the ground has not been used as landfill; the property is connected to, and has the right to use, the mains services mentioned in the report; and the valuation does not take account of any furnishings, removable fittings or sales incentives.
With regard to legal matters I have assumed that:
the property is sold with 'vacant possession' (your legal advisers can give you more information on this term); the condition of the property, or the purpose the property is or will be used for, does not break any laws; no particularly troublesome or unusual restrictions apply to the property, that the property is not affected by problems which would be revealed by the usual legal inquiries and that all necessary planning permissions and Building Regulations consents (including consents for alterations) have been obtained and complied with; and the property has the right to use the mains services on normal terms, and that the sewers, mains services and roads giving access to the property have been 'adopted' (that is, they are under localauthority, not private, control).
Any additional assumptions relating to the valuation
Your legal advisers, and other people who carry out property conveyancing, should be familiar with these assumptions and are responsible for checking those concerning legal matters.
My opinion of the Market Value shown here could be affected by the outcome of the enquiries by your legal advisers (section I) and/or any further investigations and quotations for repairs or replacements. The valuation assumes that your legal advisers will receive satisfactory replies to their enquiries about any assumptions in the report.
Other considerations affecting value
Note: You can find information about the assumptions I have made in calculating this reinstatement cost in the 'Description of the RICS HomeBuyer Service' provided. The reinstatement cost is the cost of rebuilding an average home of the type and style inspected to its existing standard using modern materials and techniques, and by acting in line with current Building Regulations and other legal requirements. This will help you decide on the amount of buildings insurance cover you will need for the property.
In my opinion the Market Value on 5th January 2015 as inspected was:
£ 250,000 Two Hundred and Fifty Thousand Pounds
Tenure Freehold Area of property (sq m) 64 sq m on a gross external area (GEA) basis (
Client's name PPNL SPV 2 Limited Date this reportwas produced
7th January 2015
1. This report has been prepared by a surveyor ('the Employee') on behalf of a firm or company of surveyors ('the Employer'). The statements and opinions expressed in this report are expressed on behalf of the Employer, whoaccepts full responsibility for these.
Without prejudice and separately to the above, the Employee will have no personal liability in respect of any statements and opinions contained in this report, which shall at all times remain the sole responsibility of the Employer to the exclusion of the Employee.
In the case of sole practitioners, the surveyor may sign the report in his or her own name unless the surveyor operates as a sole trader limited liability company.
To the extent that any part of this notification is a restriction of liability within the meaning of the Unfair Contract Terms Act 1977 it does not apply to death or personal injury resulting from negligence.
2. This document is issued in blank form by the Royal Institution of Chartered Surveyors (RICS) and is available only to parties who have signed a licence agreement with RICS.
RICS gives no representations or warranties, express or implied, and no responsibility or liability is accepted for the accuracy or completeness of the information inserted in the document or any other written or oral informationgiven to any interested party or its advisers. Any such liability is expressly disclaimed.
Please read the 'Description of the RICS HomeBuyer Report Service' (at the back of this report) for details of what is, and isnot, inspected.
Getting quotations The cost of repairs may influence the amount you are prepared to pay for the property. Before you make a legal commitment to buy the property, you should get reports and quotations for all the repairs and further investigations the surveyor may have identified. You should get at least two quotations from experienced contractors who are properly insured. You should also:
ask them for references from people they have worked for; describe in writing exactly what you will want them to do; and get the contractors to put the quotations in writing.
Some repairs will need contractors with specialist skills and who are members of regulated organisations (for example, electricians, gas engineers, plumbers and so on). Some work may also need you to get Building Regulations permission or planning permission from your local authority.
Further investigations If the surveyor is concerned about the condition of a hidden part of the building, could only see part of a defect or does not have the specialist knowledge to assess part of the property fully, the surveyor may have recommended that further investigations should be carried out to discover the true extent of the problem.
Who you should use for these further investigations You should ask an appropriately qualified person, though it is not possible to tell you which one. Specialists belonging to different types of organisations will be able to do this. For example, qualified electricians can belong to five different governmentapproved schemes. If you want further advice, please contact the surveyor.
What the further investigations will involve This will depend on the type of problem, but to do this properly, parts of the home may have to be disturbed and so you should discuss this matter with the current owner. In some cases, the cost of investigation may be high.
When to do the work The condition ratings help describe the urgency of the repair and replacement work. The following summary may help you decide when to do the work.
Condition rating 2 repairs should be done soon. Exactly when will depend on the type of problem, but it usually does not have to be done right away. Many repairs could wait weeks or months, giving you time to organise suitable reports and quotations. Condition rating 3 repairs should be done as soon as possible. The speed of your response will depend on the nature of the problem. For example, repairs to a badly leaking roof or a dangerous gas boiler need to be carried out within a matter of hours, while other less important critical repairs could wait for a few days.
Warning Although repairs of elements with a condition rating 2 are not considered urgent, if they are not addressed they may develop into defects needing more serious repairs. Flat roofs and gutters are typical examples. These can quickly get worse without warning and result in serious leaks. As a result, you should regularly check elements with a condition rating 2 to make sure they are not getting worse.
an inspection of the property (see 'The inspection'); a report based on the inspection (see 'The report'); and a valuation, which is part of the report (see 'The valuation').
The surveyor who provides the RICS HomeBuyer Service aims to give you professional advice to help you to:
make an informed decision on whether to go ahead with buying the property; make an informed decision on what is a reasonable price to pay for the property; take account of any repairs or replacements the property needs; and consider what further advice you should take before committing to purchase the property.
The inspection The surveyor inspects the inside and outside of the main building and all permanent outbuildings, but does not force or open up the fabric. This means that the surveyor does not take up carpets, floor coverings or floorboards, move furniture, remove the contents of cupboards, roof spaces, etc., remove secured panels and/or hatches or undo electrical fittings. If necessary, the surveyor carries out parts of the inspection when standing at ground level from public property next door where accessible.
The surveyor may use equipment such as a dampmeter, binoculars and torch, and may use a ladder for flat roofs and for hatches no more than 3 metres above level ground (outside) or floor surfaces (inside) if it is safe to do so.
Services to the property Services are generally hidden within the construction of the property. This means that only the visible parts of the available services can be inspected, and the surveyor does not carry out specialist tests. The visual inspection cannot assess the efficiency or safety of electrical, gas or other energy sources; plumbing, heating or drainage installations (or whether they meet current regulations); or the inside condition of any chimney, boiler or other flue.
Outside the property The surveyor inspects the condition of boundary walls, fences, permanent outbuildings and areas in common (shared) use. To inspect these areas, the surveyor walks around the grounds and any neighbouring public property where access can be obtained.
Buildings with swimming pools and sports facilities are also treated as permanent outbuildings, but the surveyor does not report on the leisure facilities, such as the pool itself and its equipment, landscaping and other facilities (for example, tennis courts and temporary outbuildings).
Flats When inspecting flats, the surveyor assesses the general condition of outside surfaces of the building, as well as its access areas (for example, shared hallways and staircases). The surveyor inspects roof spaces only if they are accessible from within the property. The surveyor does not inspect drains, lifts, fire alarms and security systems.
Dangerous materials, contamination and environmental issues The surveyor does not make any enquiries about contamination or other environmental dangers. However, if the surveyor suspects a problem, he or she should recommend a further investigation. The surveyor may assume that no harmful or dangerous materials have been used in the construction, and does not
The surveyor does not carry out an asbestos inspection and does not act as an asbestos inspector when inspecting properties that may fall within the Control of Asbestos Regulations 2006. With flats, the surveyor assumes that there is a 'dutyholder' (as defined in the regulations), and that in place are an asbestos register and an effective management plan which does not present a significant risk to health or need any immediate payment. The surveyor does not consult the dutyholder.
The report The surveyor produces a report of the inspection for you to use, but cannot accept any liability if it is used by anyone else. If you decide not to act on the advice in the report, you do this at your own risk. The report focuses on matters that, in the surveyor's opinion, may affect the value of the property if they are not addressed.
The report is in a standard format and includes the following sections. A Introduction to the report B About the inspection C Overall opinion and summary of the condition ratings D About the property E Outside the property F Inside the property G Services H Grounds (including shared areas for flats) I Issues for your legal advisers J Risks K Valuation L Surveyor's declaration What to do now Description of the RICS HomeBuyer Service Typical house diagram
Condition ratings The surveyor gives condition ratings to the main parts (the 'elements') of the main building, garage and some outside elements. The condition ratings are described as follows.
Condition rating 3 defects that are serious and/or need to be repaired, replaced or investigated urgently.
Condition rating 2 defects that need repairing or replacing but are not considered to be either serious or urgent. The property must be maintained in the normal way.
Condition rating 1 no repair is currently needed. The property must be maintained in the normal way.
NI not inspected. The surveyor notes in the report if it was not possible to check any parts of the property that the inspection would normally cover. If the surveyor is concerned about these parts, the report tells you about any further investigations that are needed.
The surveyor does not report on the cost of any work to put right defects or make recommendations on how these repairs should be carried out. However, there is general advice in the 'What to do now' section at the end of the report.
Energy The surveyor has not prepared the Energy Performance Certificate (EPC) as part of the RICS HomeBuyer Service for the property. If the surveyor has seen the current EPC, he or she will present the energyefficiency and environmental impact ratings in this report. The surveyor does not check the ratings and cannot comment on their accuracy.
Issues for legal advisers The surveyor does not act as 'the legal adviser' and does not comment on any legal documents. If, during the inspection, the surveyor identifies issues that your legal advisers may need
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have a duty to justify making this assumption. However, if the inspection shows that these materials have been used, the surveyor must report this and ask for further instructions.
to investigate further, the surveyor may refer to these in the report (for example, check whether there is a warranty covering replacement windows).
Continued...
Risks This section summarises defects and issues that present a risk to the building or grounds, or a safety risk to people. These may have been reported and condition rated against more than one part of the property or may be of a more general nature, having existed for some time and which cannot reasonably be changed.
If the property is leasehold, the surveyor gives you general advice and details of questions you should ask your legal advisers.
The valuation The surveyor gives an opinion on both the Market Value of the property and the reinstatement cost at the time of the inspection (see the 'Reinstatement cost' section).
Market Value 'Market Value' is the estimated amount for which a property should exchange, on the date of the valuation between a willing buyer and a willing seller, in an arm's length transaction after the property was properly marketed wherein the parties had each acted knowledgeably, prudently and without compulsion.
When deciding on the Market Value, the surveyor also makes the following assumptions.
The materials, construction, services, fixtures and fittings, and so on The surveyor assumes that:
an inspection of those parts that have not yet been inspected would not identify significant defects or cause the surveyor to alter the valuation; no dangerous or damaging materials or building techniques have been used in the property; there is no contamination in or from the ground, and the ground has not been used as landfill; the property is connected to, and has the right to use, the mains services mentioned in the report; and the valuation does not take account of any furnishings, removable fittings and sales incentives of any description.
Legal matters The surveyor assumes that:
the property is sold with 'vacant possession' (your legal advisers can give you more information on this term); the condition of the property, or the purpose that the property is or will be used for, does not break any laws; no particularly troublesome or unusual restrictions apply to the property, that the property is not affected by problems which would be revealed by the usual legal enquiries and that all necessary planning and Building Regulations permissions (including permission to make alterations) have been obtained and any works undertaken comply with such permissions; and the property has the right to use the mains services on normal terms, and that the sewers, mains services and roads giving access to the property have been 'adopted' (that is, they are under localauthority, not private, control).
The surveyor reports any more assumptions that have been made or found not to apply.
If the property is leasehold, the general advice referred to earlier explains what other assumptions the surveyor has made.
Reinstatement cost Reinstatement cost is the cost of rebuilding an average home of the type and style inspected to its existing standard using modern materials and techniques and in line with current Building Regulations and other legal requirements.
This includes the cost of rebuilding any garage, boundary or retaining walls and permanent outbuildings, and clearing the site. It also includes professional fees, but does not include VAT (except on fees).
The reinstatement cost helps you decide on the amount of buildings insurance cover you will need for the property.
Standard terms of engagement
Complaints handling procedure The surveyor will have a complaints handling procedure and will give you a copy if you ask.
Note: These terms form part of the contract between you and the surveyor. This report is for use in England, Wales, Northern Ireland, Channel Islands and Isle of Man.
1 The service the surveyor provides the standard RICS HomeBuyer Service ('the service') described in the 'Description of the RICS HomeBuyer Service', unless you and the surveyor agree in writing before the inspection that the surveyor will provide extra services. Any extra service willrequire separate terms of engagement to be entered into with the surveyor. Examples of extra services include:
costing of repairs; schedules of works; supervision of works; reinspection; detailed specific issue reports; and market valuation (after repairs).
2 The surveyor the service is to be provided by an AssocRICS, MRICS or FRICS member of the Royal Institution of Chartered Surveyors, who has the skills, knowledge and experience to survey, value and report on theproperty.
3 Before the inspection you tell the surveyor if there is already an agreed, or proposed, price for the property, and if you have any particular concerns (such as plans forextension) about the property.
4 Terms of payment you agree to pay the surveyor's fee andany other charges agreed in writing.
5 Cancelling this contract you are entitled to cancel this contract by giving notice to the surveyor's office at any time before the day of the inspection. The surveyor does not provide the service (and reports this to you as soon as possible) if, after arriving at the property, the surveyor decides that:
If you cancel this contract, the surveyor will refund any moneyyou have paid for the service, except for any reasonable expenses. If the surveyor cancels this contract, he or she will explain the reason to you.
(a) he or she lacks enough specialist knowledge of the method of construction used to build the property; or
(b) it would be in your best interests to have a building survey and a valuation, rather than the RICS HomeBuyerService.
6 Liability the report is provided for your use, and the surveyor cannot accept responsibility if it used, or relied upon,by anyone else.
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This diagram illustrates where you may find some of the building elements referred to in the report.
