professional services
Directors and Chartered Surveyors Jon Stone FRICS and Richard Shaw MRICS have over 55 years of combined commercial property experience in the South West and provide a wide range of professional services and advice including;
Valuations
Valuations confirm whether your offer is reasonable and in any event will be required by a bank if you intend raising a mortgage. We are accepted by most lending institutions and have experience in valuing most types of commercial property and businesses.
We complete valuations for banks and other lending institutions, partnership dissolution, taxation, SIPPS, probate etc. We are panel valuers to NatWest, RBS, HSBC and Lloyds TSB and are often asked to provide advice to allied professionals such as solicitors, accountants and financial advisors.
A valuation involves a detailed inspection of the property, checking rating, planning and development prospects etc, and calculating values dependent upon the terms of instruction. We have an extensive database of comparable transactions, along with many contacts who can provide up to date information. When valuing businesses, we also check statutory registrations, licenses etc and consider fair maintainable trade levels. Once our investigations are complete, we prepare a detailed written report. We also normally provide an insurance reinstatement valuation and plan to turn around reports within 5/7 days of inspection.
A fixed fee will be agreed in advance for every valuation, to include travelling, photographs, photocopying etc.
Landlord and Tenant Matters
We also advise on rent levels, terms for new leases and negotiate rent reviews, lease renewals, surrenders etc. Again our database of comparables provides accurate and up to date market information.
In addition, we advise many landlords and tenants upon other issues such as interim and terminal dilapidations, applications for alterations or disposal, service charge matters, upgrading, improvements etc. We have acted for a number of clients for many years, some with extensive property holdings and can provide case histories and/or references if required.
Alterations/Extensions/Refurbishment
We work closely with local architects who are well versed in fire, environmental health, healthcare and licensing requirements and can complete measured surveys, detailed plans, specifications for pricing and supervise the building contract if necessary.
Acquisition
In some cases clients prefer us to acquire suitable property for them. There can be many reasons for this although the two main ones are confidentiality and a lack of time. We will meet you, prepare a brief, and implement an extensive search through cold canvassing, contacting suitable agents, property owners, Local Authorities etc.
We then shortlist suitable opportunities, advise on values and offer levels. Once terms are agreed, we can assist with legals through to completion. We can simultaneously provide building surveying advice, and through our architectural associate, obtain planning permission, building regulation approval etc for any alterations or extensions.
Development
We are involved in a number of development projects throughout the South West. These include a high density residential scheme in North Devon; Greendale Business Park, Nr Exeter; a retail scheme in Newton Abbot; and industrial projects in Exmouth.
We have been involved in most of these properties from the start, having originally identified and acquired them. We are retained to advise throughout including providing advice on rents and end values, negotiating with potential tenants and buyers, etc. Again, specific case histories are attached.
Summary
Good quality professional advice has never been more necessary than today. Commercial property markets constantly change and up to date detailed knowledge is essential to provide accurate advice. We are one of only a few practises in the South West who can offer all of the above services under one roof and we are approachable.
Please contact Jon Stone FRICS or Richard Shaw MRICS on 01392 201262 for an informal chat without obligation.
case histories
35-37 Queen Street Newton Abbot Devon Let to British Heart Foundation
A substantial 3 storey retail unit has been let to national charity, British Heart Foundation, by property specialists Stonesmith of Exeter.
The building, which occupies a busy position in Newton Abbot town centre, was originally acquired by the agents for Greendale Investments for redevelopment as a public house.
However, changes to the economic climate led the potential occupiers to put expansion plans on hold, and planning was pursued for a retail scheme involving a 3,500 sq ft ground floor shop, 1,500 sq ft first floor storage and 500 sq ft second floor ancillary space.
Large parts of the building were demolished, and the remaining being completely renovated and extended and pre-let to BHF on a 10 year full repairing and insuring lease off a quoting rent of £55,000pa. The tenants shopfit is complete and the unit is open and selling a wide range of furniture and electrical goods.
This scheme is one of a number of developments that Stonesmith are advising on
Weddel Swift, Greendale Business Park
Weddel Swift, Greendale Business Park – 9,000 sq ft new build depot on 0.65 acre site with specialist fitout, loading dock etc. Scheme designed built and pre-let on 20 year lease within 6 months.
Kennford Village Hall, Nr Exeter
Kennford Village Hall, Nr Exeter – pre-planning and valuation advice, site sold to local developer for 5 unit residential conversion.
Greendale Business Park, Nr Exeter
Greendale Business Park, Nr Exeter – ongoing management advice including rent reviews, lease renewals, interim and terminal dilapidations, relocation and development etc.
Prezzo, Exmouth
Prezzo, Exmouth – former public house re-let to restaurant chain following various alterations, planning etc.
Cottage Inn, Taunton
Cottage Inn, Taunton – closed public house identified and acquired for developer clients. Planning obtained for 14 unit residential scheme, now built out and being sold.
South Street, Exeter
South Street, Exeter – dilapidations on behalf of Pension Fund landlords. Schedule prepared, works tendered and supervised, settlement agreed with former tenant, and refurbished building re-let prior to completion.
Cranmere Court, Matford, Exeter
Cranmere Court, Matford, Exeter – terminal dilapidations for landlord ROK Development Ltd and general service charge advice.
The White Hart, Launceston
The White Hart, Launceston – ongoing management advice including rent reviews, interim dilapidations, insurance compliance etc.
Littleham Industrial Estate, Exmouth
Littleham Industrial Estate, Exmouth – industrial building identified and acquired by developer/investor clients. Site sub-divided and let, subject to planning and completion of various works. Ongoing management advice.
Prezzo, Falmouth
Prezzo, Falmouth – ground floor of former post office identified and acquired on long lease as shell, ready for extensive fit-out.
Grenville Nursing Home, Bideford
Grenville Nursing Home, Bideford – former nursing home identified and acquired. Residential scheme approved and currently negotiating turnkey scheme subject to modifications.
“ Excellent service - a big thanks to all at Stonesmith ”
John and Lynn Bowen - Purchasers of The Merry Harriers
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