Our firm specializes in the various facets of the Estate Surveying and Valuation profession which basically include:
- Real Estate Agency, involving letting, Sale and acquisition of Real Estate Assets for and on behalf of clients.
- Development Appraisal including preparation of Feasibility and Viability Reports on proposed projects and sourcing for development finance.
- Valuation of Assets including Land and buildings, Plant and Machinery, furniture, fittings and office equipment including motor vehicles.
- Property management including, lease administration and management of service charge.
- Compensation and Acquisition of land for Government, individuals and non-governmental organizations and agencies.
- However, for purpose of this proposal we would want to expatiate further on Property Valuation, Estate Agency, Project management and Property management.
1.0 PROPERTY/ASSET VALUATION
Valuation generally speaking involves the determination, at a particular time, of the value or worth of an interest in property for a particular purpose. The asset could be land and buildings, plant and machinery, furniture, fittings and equipment or even goodwill. More so, it could also be necessary to carry out periodic revaluation of the assets of companies due to sporadic increase in prices occasioned by the unstable exchange rate. However, property assets embracing furniture, land and buildings, office equipment, motor vehicles and other floating assets (including goodwill) could jointly or separately require periodic valuation or revaluation for any or some of the following purposes. Security for a loan from Financial Institutions.
- Preparation of Balance Sheets or Accounts.
- Privatization and/or commercialization,
- As a going concern;
- Rating and taxation;
- Merger and acquisition
- For the determination of the worth of assets to be transferred in the case of liquidation.
2.0 ESTATE AGENCY
The letting and sale of real properties is what is generally referred to as Estate Agency in the Estate surveying and Valuation Profession. Our firm has acted for various clients, both corporate and individual, both in the public and private sector, throughout the country in the letting and sale of their property assets. Our services in this area will among other include:
- Identification of a suitable property to suit the clients requirement either for sale or lease.
- Carryout proper search to ensure that the property is not encumbered either in any way.
- Advising on the proper rent or sale value of the property to be sold or let based on our vast knowledge of the property market.
- Securing tenants and buyers for properties.
- Upon conclusion of each transaction ensure that vacant possession is delivered.
- Ensuring proper documentation of such transactions.
Our numerous clients have the benefit of enjoying our extensive network and links in the property market throughout the country and abroad.
3.0 PROPERTY MANAGEMENT
In Estate Surveying and Valuation, property management is different from agency, in that while agency services terminates with letting or sale of the property and the remittance of rent or proceeds of the transaction to the Landlord (vendor), the management surveyor retains control of the property, directing and supervising his client's interest with the purpose of maximizing the investor's return on the investment which could be financial, social or even in cultural terms as the case may be. We have over 250 choice properties in our management portfolio as at 30 th April, 2001, both residential, commercial and industrial properties. We ensure that our clients sit back and enjoy the fruit of their investment, while we take responsibility over:
- The quality of his tenant;
- Fair market rents on his property;
- Local, state and federal taxes on his properties;
- Lease and tenancy agreements with the tenants, including renewals and pre-vacation inspections;
- Service bills such as electricity, water and refuse collection for multi-tenanted properties;
- Insurance; and
- Repairs and maintenance.
These among others are some of the many management services our clients enjoy. It would also be necessary to mention here that we do not only manage for the Landlord, but also for tenant. For tenants, we could manage their leases by projecting and protecting their interests in the property and ensuring that they are not harassed by the landlord. In fact, even where we represent the Landlord, it is our belief that a property is well managed only if both the Landlord and tenant are happy with the performance of the management surveyor.
4.0 PROJECT MANAGEMENT
In project development we participate as Project Managers or as both project managers and joint financiers in the development of viable building projects.
Project management however, involves the co-ordination on behalf of the developers of the activities of the other members of a development team, for the purpose of a hitch-free development, namely:
- The Architect
- The Engineers (Structural, mechanical, electrical etc.)
- The Quantity Surveyor
- The Contractors (main and subordinates).
Some members of our staff have contributed substantially in the project management of some key projects both in Lagos and Port Harcourt.
Closely related to property development is feasibility and viability appraisal of real estate developments. This requires a critical analysis of a conceptualized project to determine its feasibility and viability. It is worth mentioning here that we hardly participate in any property development project without first of all establishing the viability of such a project.