A Surveyors week – as featured in the Derby Telegraph July 2015, Andrew Nichols
Monday 15th June 2015
I always try to get to the Office around 7.30am to miss the bulk of the traffic, and to dictate the odd report before the Office officially opens at 9.00am.
The first task is to relay offers on an office building in Burton-upon-Trent. Two proposals have been received, and after undertaking due diligence I am reporting to the Client so that they can make an informed decision on which party to ‘run’ with.
A number of commercial property appraisals are signed, ready for dispatch to the Bank. Commercial lending has improved of late, hence the increased demand for our valuation service.
A round of golf takes up the remainder of the day. It is with some trepidation that I step onto the first tee, at the Princes Trust Tournament at Kedleston Park, as I have literally not played golf for twelve months. I play terribly, but it was still an enjoyable afternoon.
Tuesday 16th June 2015
I wake especially early this morning, partly because of sore and blistered feet, and I am conscious that I need to deal with a number of outstanding issues prior to venturing onto the golf course again.
I respond to the ever-growing list of emails and missed calls from the previous afternoon, and the onset of trying to resolve a ‘hitch’ in the sale of industrial units and parcel of land. The site is situated on the Osmaston Park Industrial Estate, and is unfortunately held on a ground lease, which quite frankly are awful legal titles. Hopefully I have found a resolution, however the delay is causing severe financial implications on the purchasers, and it is still unclear whether we can get the deal ‘across the line’.
The afternoon was spent at Chevin Golf Club, playing in the Derby County Former Players Association Golf Day. I have played in this event for many years, and alternate entering a team with a Client. This time around it is the Clients team, and fortunately I am striking the ball a little better than the day before, although I am not sure the Client would agree! I hobble back into the Club House about 7pm, and have a very enjoyable meal and presentation evening.
Wednesday 17th June 2015
Again, I am playing catch-up in the morning with emails and phone calls, and to prepare for an important meeting at a Client’s solicitors offices at mid-day. The Client is undertaking a large development and some months ago we negotiated a sale. The project is a part-refurbishment and a number of issues have arisen within the agreed schedule of works. A consensus on the way forward is reached after two-and-a-half hours of negotiations.
On the way back to the Office, I get a call from a Clients solicitor requesting assistance on signing some legal documents in respect of a sale of an investment. I call round to the property and the manageress is very helpful and accommodating, and I am able to respond accordingly.
Thursday 18th June 2015
I finalise reports on a portfolio of fourteen industrial units located across the Midlands. I carry out an inspection of a property that we manage on behalf of a Client, which has recently undergone refurbishment, and undertake an accompanied viewing at an office building.
The rest of the day is spent in Sheffield, where one of my Daughters is receiving treatment for severe OCD. The illness is horrible, and impossible to describe. She is however, working exceedingly hard to overcome her fears and anxieties, and hopefully with continued support we will be able to have her home in the not-too-distant future. We are fortunate that our daughter receives treatment on the NHS, however it is a sad indictment that the closest facility able to treat her is in Yorkshire.
Friday 19th June 2015
The end of the week is fast approaching.
My first meeting of the day is with a Client to discuss lease renewals and views on a number of retail properties.
This is then followed by a meeting with a potential new client whom requires advice on office rentals and demand. This is part of a feasibility study for a very exciting project within the City.
An inspection and measured survey of an industrial unit with offices, which is required for a Bank valuation, follows.
The last stop for the week is a valuation of a retail unit. An RICS Red Book valuation is required, as this is a transfer of the freehold part between interconnected parties, and is not at ‘arms-length’. I am concerned that the transfer may create a capital gains tax liability, and ask the Client to look through the paperwork to see if he can find an indication of an earlier value. It was with some irony and a little emotion, that I discover that the last valuation was carried in 1988 by my late Father, Brian Nichols, the year before I started in the profession!
