Practice Notes

Approved for Publication 04.06.2004

MISCELLANEOUS PROPERTIES COMMITTEE

Practice Note 25

REVALUATION 2005

Valuation of Holiday Huts, Huts, Sheds, Bothies, etc.

1.0 INTRODUCTION

This note is intended to give guidance in valuation for those subjects which Assessors have decided should properly enter the Valuation Roll. Such property will be cheaply constructed, self-built and extremely basic. Commercial Self-Catering is not included.

2.0 APPROACH TO VALUATION

It is recommended that the valuation is approached by consideration of two distinct elements, site value and structure element, which added together give the net annual value.

3.0 SITE VALUE

The best guide to site value will be local evidence. Site rents are likely to be dependent on location much more than services. In the absence of local evidence the following rates may be used.

4.0 STRUCTURE ELEMENT

It is recommended that the building is valued at a rate between £3.50/m² and £12.00/m². The following table is given as a guide

The appropriate rate is applied to the gross external area of the building to arrive at the structure value. Valuers will apply the rates having regard to the age and quality of the building, bearing in mind that location is reflected in the site value adopted and lack of services as per paragraph 6.0. No allowance for age and obsolescence should be given as this is already reflected in the table. Rates may be interpolated if appropriate.

5.0 BOTHIES

In the majority of cases these will be stone built properties more substantial than those described in paragraph 1.0. They will usually be fairly basic and situated in very rural or remote areas. Suitable structure rates will normally be found in the first column of the above table.

6.0 LACK OF SERVICES

The following allowances should be aggregated and applied to the structure value of the building.

The maximum deductions under this heading will not normally exceed 50%.