Practice Notes
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Approved for Publication 03.06.2004
MISCELLANEOUS PROPERTIES COMMITTEE
Practice Note 3
REVALUATION 2005
Valuation of Squash Courts
1.0 INTRODUCTION
This practice note deals with the valuation of stand alone courts which are found in squash only clubs or attached to another "sport" type club e.g. Tennis Club or Cricket Club.
There appears to have been a decline in popularity of squash courts and they are now more likely to be incorporated as an ancillary to multi-use sports or leisure centres rather than to be developed independently.
Where the courts form part of a multi-use centre it would be more appropriate to approach the valuation on the basis of Practice Note 3 in respect of Sports & Leisure Centres which has been produced by the Public Building Committee.
2.0 BASIS OF VALUATION
It is recommended that the Contractors' Method of Valuation be used.
2.1 Rates To Be Adopted
An analysis of the costs indicates replacement capital values in the following range of rates per square metre, excluding site value.
|
Type of Court |
R.C.V. Rate per square metre |
||||
|
1 Court |
2 or 3 Courts |
4 +Courts |
|||
|
1. Basic Quality Court (with viewing gallery) e.g. metal box profile cladding to walls and roof |
£775 |
£680 |
£655 |
||
|
2. Mid Quality Court (with viewing gallery) e.g. fair-faced block work to external walls |
£835 |
£720 |
£700 |
||
|
3. Good Quality Court (with viewing gallery) e.g. good quality brickwork to external walls |
£875 |
£745 |
£710 |
||
No adjustment is necessary for contract size, location or fees as these costs already reflect these factors.
2.2 Adjustments To Adopted Rate
2.2.1 Where glass back viewing walls are fitted, the above rates may be increased by 3.25%
2.2.2 Where the squash court is a separate building, but toilet accommodation and changing rooms are provided elsewhere, for example in premises of an adjoining Rugby, Tennis, Cricket etc. Club, a deduction of 10% should be made.
2.3 Age And Obsolescence Allowances
Age and obsolescence allowances should be applied in accordance with Basic Principles Committee Practice Note 2 to reflect age related obsolescence and general condition. A notional date should be adopted where appropriate.
|
Year |
Allowance |
Year |
Allowance |
Year |
Allowance |
|
2005 |
0.00% |
1985 |
15.00% |
1965 |
35.00% |
|
2004 |
0.50% |
1984 |
16.00% |
1964 |
36.00% |
|
2003 |
1.00% |
1983 |
17.00% |
1963 |
37.00% |
|
2002 |
1.50% |
1982 |
18.00% |
1962 |
38.00% |
|
2001 |
2.00% |
1981 |
19.00% |
1961 |
39.00% |
|
2000 |
2.50% |
1980 |
20.00% |
1960 |
40.00% |
|
1999 |
3.00% |
1979 |
21.00% |
1959 |
41.00% |
|
1998 |
3.50% |
1978 |
22.00% |
1958 |
42.00% |
|
1997 |
4.00% |
1977 |
23.00% |
1957 |
43.00% |
|
1996 |
4.50% |
1976 |
24.00% |
1956 |
44.00% |
|
1995 |
5.00% |
1975 |
25.00% |
1955 |
45.00% |
|
1994 |
6.00% |
1974 |
26.00% |
1954 |
46.00% |
|
1993 |
7.00% |
1973 |
27.00% |
1953 |
47.00% |
|
1992 |
8.00% |
1972 |
28.00% |
1952 |
48.00% |
|
1991 |
9.00% |
1971 |
29.00% |
1951 |
49.00% |
|
1990 |
10.00% |
1970 |
30.00% |
1950 |
50.00% |
|
1989 |
11.00% |
1969 |
31.00% |
1949 |
50.00% |
|
1988 |
12.00% |
1968 |
32.00% |
1948 |
50.00% |
|
1987 |
13.00% |
1967 |
33.00% |
1947 |
50.00% |
|
1986 |
14.00% |
1966 |
34.00% |
1946 |
50.00% |
N.B. Bar at 50.00%
2.4 Decapitalisation
The effective Capital Value should be decapitalised at the appropriate rate. In the case of squash courts that are ancillary to a complex, the decapitalisation rate to be applied will be that appropriate to the principal subject.
2.5 Site Value
The recommended rates shown above exclude site value. An appropriate addition for site value should be made in accordance with local evidence, where available. If no evidence is available, an addition of 10% may be appropriate.
2.6 Clubhouse
Where there is a clubhouse or pavilion present, this should be valued in accordance with Miscellaneous Properties Committee Practice Note 5.
2.7 Car Parking
Car parking has not been included in the analysis; if appropriate an addition should be made in accordance with local evidence. Where a car park forms part of the subject it should not normally exceed 10% of the total value.
2.8 Valuer's Discretion
This report is intended to provide guidance in arriving at the N.A.V of Squash Courts. As in all valuation for rating, the Valuer must arrive at what he considers to be a reasonable valuation having regard to the provisions of the Lands Valuation Acts.
The decline in the popularity of squash seems likely to continue. There is no single criteria to ascertain the optimum membership. The Valuer, therefore, is advised to consider the pattern of membership numbers given in previous Revaluation returns for the subject concerned before deciding whether an allowance is applicable.
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