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Philbeach Gardens, London SW5

Indefinite Leave to Remain Valuation:

Back in 2008, the Government introduced a way for high net worth individuals to qualify for permanent UK residence under the Tier 1 Investor Visa scheme with approximately 500 such persons being successfully granted in 2017.

We have written a brief guide to the entry rules before on our blog but to qualify for indefinite leave to remain the individual must be continuously resident in the UK as a Tier 1 for a minimum period of time. The qualifying period is dependent on the size of their investment:

Continuous residence period of 2 years: total investment totals £10 million
3 years: total investment is £5million and
5 years if the total investment is £1million

The client in this situation had owned the property for almost a decade, but now wished to settle.

london apartments

The Valuation

The property was a large 2^nd and 3^rd floor flat with a roof terrace in a good condition with modern and high-end kitchen and bathroom, which would be expected of the area, set over 1350 sq ft. Surveyors often use a comparable table to evaluate the differences between different aspects of local sales, similar to the following:

Properties with different characteristics need to be compared and adjusted to bring them into line with the subject property. This process can also be useful to highlight elements of properties that are either less or more desirable, and can serve as examples of properties that would clearly achieve a higher or lower price on the open market.

In this instance, X Philbeach Gardens was inferior to the subject. Z Philbeach Gardens was more desirable, whilst Y Philbeach Gardens was very similar. The subject was valued at £1,760,000.

Whilst in this instance the client’s property was well clear of the £1 million threshold, a valuation by a Chartered Surveyor was still required. If you are looking into a Tier 1 Investment VISA, either on an initial basis or wish to remain permanently, email us at surveying@peterbarry.co.uk or call our Head Office in Kensington on 020 7183 2578

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Rachel Fay

I was put at ease by the professional way In which this survey was conducted I highly recommend Peter Barry All aspects were considered my home Was examined for any potential problems That may be caused by the works being Carried out by the neighbouring property . Photos were skilfully recorded and a Drone was used to take pictures of the roof . Peter Barry Surveyor truly did a fantastic Job acting in a professional manner at all Times . And showing respect for my home And security and I can only prise them , Many Thanks Rachel

Neyet M

I was a neighbour of someone who wanted to do some changes to their dormer into a full loft conversion. The surveyor sent to review our shared walls was very young professional and helped answer all my questions and concerns. The emails from the firm were very formal, else and they were very reachable by telephone. I didn’t pay as my neighbour was carrying out the works so I can’t comment there. I would consider using this firm for further works personally

Jack Reynolds-Clark

Very responsive and proactive. Would highly recommend

soe tjen marching

Great surveyor. Professional and very good service for our party wall matter. Thank you.

Zoe Mandich

The service provided was party wall and was professional especially it got done swiftly and in good time and did not delay the building work of the next door neighbor. N13, Eaton Park Road

Sammy Miller

All good thankyou!