The Charities Act 1993 and subsequent amendments in 2011 provides a clear definition of a Charity. In accordance with part 7 of the 2011 Act any charity wishing to dispose of premises is subject to a strict obligation to obtain a formal valuation from a Chartered Surveyor prior to considering disposal. This valuation must be to an open market valuation of potentially freehold and leasehold interests in both residential and commercial property strictly in accordance with RICS guidelines. It must also suggest a preferred method of disposal and provide an indication of likely time scales.
A number of valuations have been completed by Anton Bree FRICS in recent years on behalf of both Local and National charities and advice provided for disposal by a variety of methods including private treaty, Best bids and auction. In addition regular valuations are provided for the charities as a guideline for the annual accounts.
