Boarding/Guest houses, B&B's Back Packers accommodation Valuations
Boarding houses, Guest houses, B&B’s and Back Packers accommodation Valuations
Quadrant has been valuing Boarding houses, Guest houses, Bed and Breakfasts and Back Packers along with other accommodation running concerns for over 20 years.
If you are thinking of buying or selling, regardless of Freehold or Leasehold, without an independent valuation you are taking a very large risk relying on provided figures or an assessment not requested by you for your exclusive use.
As these investments are running concerns, they are heavily weighted towards Profit and Loss Statements, based on income and expenses. Most if not all of these running concerns are aware of this and in the lead up to placing one on the open market they run on a shoe-string budget, making major changes such as reducing wages, maintenance and general running costs to inflate yields.
Quadrant can assess a concern and identify if and by how much figures may have been inflated by over the long term.
Call us for an obligation free quote: (02) 9999 6582
If you are financing any level of the purchase, your financial institution will perform an assessment/compliance report to cover their lending criteria, however these reports are often not released to the Borrower or Purchaser and anyway offer little to no indication of value to any other party apart from the financial institution.
It has been highly publicised recently the losses suffered by purchasers who had purchased running concerns only to find themselves unable to achieve returns without having all family members on deck working 12 hours a day, 7 days a week at well below minimum wages.
At a relatively low cost you could have an independent valuation conducted to give you peace of mind on any sale or purchase. A specialised valuation will not only inform you of the Valuers opinion based on their interpretation of the P & L, current state of the market and area, as well as valuable sales and leasing information of similar concerns, all of which can be used and or interpreted by you, once again placing you in far more informed position, Pre-Sale or Pre –Purchase.
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