Property Surveys and Party Wall Advice in Wapping

Peter Barry were approached to undertake a Probate Valuation a client’s father’s flat in Tamarind Yard, Wapping E1W. The matter was handled by one of our experienced Valuers, Matthew Price. The owner having passed in 1999, this would be classed as a retrospective valuation. You would typically not expect to gain access to the property after 23 years had passed but on this occasion our client had continued to rent it. An inspection was conducted in the usual way but given that the valuation needed to be as of 1999, it had to be assumed to be in the condition it was in at that date.

We were informed that the kitchen and bathroom had been upgraded but the flooring and decoration remained much the same. One challenge is obtaining good comparable evidence close to the 1999 valuation date, but on this occasion we managed to find 2 sales, one in 1998 and one in 1999 of flats that were of similar size.

The final report was used by the client to establish their inheritance tax liability which was one for their solicitor as opposed to our surveyor.