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Inventory Valuation procedures

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

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

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

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

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

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

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