Practice Notes
Download Document - (Opens in a new window)
Approved for Publication 03.08.2004
MISCELLANEOUS PROPERTIES COMMITTEE
Practice Note 4
REVALUATION 2005
Valuation of Ten-Pin Bowling Alleys
1.0 INTRODUCTION
An increase in popularity of this leisure pursuit was experienced in Scotland during the early part of the nineties. Development during this period saw a great variety in the types of building used for bowling alleys, ranging from the purpose built to the converted warehouse and other ancillary types.
Geographical locations varied as well, with the best locations being successful Leisure Parks.
Since this boom period, there has been minimal increase in the provision of new facilities and, indeed, several less viable premises have closed.
2.0 BASIS OF VALUATION
Ten-Pin Bowling Alleys should be valued by application of the comparative principle of valuation. The Net Annual Value of the lands and heritages will be arrived at by applying a rate per square metre to the gross external area of the subject. The rate represents the amount a typical fitted out ten-pin bowling alley will let for, per square metre, in a successful location. The rate per square metre has been derived from a study of the available rental and fitting out cost information.
3.0 TYPICAL PROPERTY
3.1 General
The accommodation will normally comprise the actual bowling lanes with bowler seating, spectator area (although spectator seating is not normal), control desk, shoe hire, bar and fast-food outlet, and possibly an amusement or video-game area. There will also be toilets, locker area, offices, kitchens, and service and storage areas. Larger establishments may also have additional attractions.
The physical dimensions of the building, if purpose built, are largely determined by the space required by the bowling lanes with the ideal building being 45m deep and having an area of around 95-100m2 per lane. An area of around 85m2 per lane is considered an absolute minimum requirement. The building width is determined by the number of lanes or vice versa. In practice, even in converted buildings, areas almost invariably fall within a range of 90-105m2 per lane.
The building will have adequate car parking facilities. These spaces can either be exclusive or communal.
3.2 Construction
Purpose built properties will be a single-storey industrial-type building of brick, block, or insulated sheeted construction with an insulated sheeted roof and reinforced concrete floor. The building will have an attractively designed front and/or entrance. Converted buildings are varied and can include former cinemas, hotels, shopping arcades and industrial units.
3.3 Internal
The walls and ceiling to the bowling area will be finished with an acoustic material for noise reduction. Other wall surfaces may be plastered. Other ceiling finishes will be plasterboard or acoustic tiled. Floors to all public areas (other than the actual lanes) will be carpeted or equivalent and internal finishes will generally be to a high standard. The entire building will have a high standard of lighting, with the lighting to the bowling lanes being critical. Concealed lighting will be provided over the bowling lanes. Air-conditioning is normally only provided to the bowling and service areas. Humidity control is very important and the lack of humidity control can have a serious adverse effect on the condition and life of the lanes, pins, and electronic scoring equipment. The building will not have sprinklers.
4.0 SITUATION
The bowling alley will be situated in one of four locations. The rates that have been derived for these are based on them being successful locations for a bowling alley. The locations are:-
|
Leisure Park: |
These are purpose built developments where leisure activities such as cinema, ten-pin bowling, bingo and restaurants/pubs locate together to increase their visibility to customers who might be visiting the leisure park. |
|
Retail Park: |
These are retail warehouse parks where ten-pin bowling alleys locate, individually as a leisure activity to become more visible to prospective customers |
|
Built up/Town: |
This location is characterised by being close to and easily accessible to a well populated area. Generally it's in these locations that you will find the majority of converted properties. |
|
Peripheral/Poor: |
This location can also be described as "others". They do not fall into the other three categories. These locations include converted industrial buildings in industrial estates that may also have problems of visibility/accessibility. |
5.0 TABLE OF BASIC RATES
|
SITUATION |
BASIC RATE |
|
Leisure Park |
£125 |
|
Retail Park |
£100 |
|
Built up/Town |
£ 80 |
|
Peripheral/Poor |
£ 60 |
6.0 ADJUSTMENTS TO BASIC RATE
6.1 Age and Obsolescence
In the case of older buildings which have been converted for use as a bowling alley, extensive modernisation will generally have taken place and this must be taken into account when considering the appropriate notional age and obsolescence allowance.
6.2 Inferior Construction/Finish/Lighting
Where the construction and/or finish is inferior to the standard specified in paragraph 3.3, an allowance may be made. Care should be taken to ensure that an allowance is not given under this heading and under Age/Obsolescence for essentially the same deficiency. Where an allowance is considered appropriate, it should not exceed 10%.
6.3 Air-Conditioning
As the basic rate assumes partial air-conditioning, an allowance must be made in any case where air-conditioning is not provided. In determining the appropriate allowance, regard should be had to the amount to be added for air-conditioning in other comparable subjects.
6.4 Sprinklers
An addition should be made for buildings that are served by sprinklers. In determining the appropriate addition, regard should be had to the amount to be added for sprinklers in other comparable subjects.
6.5 Upper Floors/Multi Level
The basic rates recommended assume that the subjects are on the ground floor. An allowance of 5% may be appropriate where the facilities are situated on an upper floor with good access, or up to 10% when the access is poor or the facilities are on two or more floors. Any allowance given should reflect the degree of inconvenience suffered.
7.0 LOCATION
No allowance will normally be appropriate in the case of purpose-built bowling alleys located within successful leisure and retail parks. If however, in the opinion of the valuer the bowling alley's location is unsuccessful then an allowance, up to a maximum of 20% may be given. In determining how successful a site is the valuer should consider access, visibility, availability of car parking and the overall success of the development itself.
Where purpose built bowling alleys have been developed in smaller towns, it may be appropriate in determining the correct value to have regard (at the valuer's discretion) to the relationship in levels of value between the smaller town and the more populous areas for buildings of similar specification.
Download Acrobat Reader - (Opens in a new window)
