We have recently undertaken a number of RICS valuations for prospective commercial property purchasers across Lancashire, particularly where properties are being bought off-market and independent advice is needed to establish whether the agreed price represents fair market value.

Our recent instructions have included a commercial investment property in the Garstang area and industrial premises in Blackpool being purchased for owner occupation. Although very different transactions, both demonstrate the value of obtaining an independent valuation before committing to a significant purchase.

Commercial property valuations in Garstang and Blackpool

For the purchaser of the investment property near Garstang, the key consideration was whether the price was supported by the property’s investment characteristics and the available market evidence.

For the buyer of the industrial premises in Blackpool, the priority was securing suitable premises for their own business while ensuring the purchase price was reasonable.

These are common considerations in commercial property acquisitions. An investor may focus on rental income, lease terms and yield, while an owner-occupier may prioritise location, access, layout and suitability for their operations. In both cases, however, the property’s market value needs to be considered independently of the purchaser’s particular objectives.

How an RICS valuation can help buyers negotiate

Off-market purchases can offer opportunities, but without a conventional marketing campaign, it may be harder to assess whether the proposed price reflects the wider market.

Our RICS-compliant valuation reports provide a detailed, evidence-based opinion of market value, with a clear rationale supported by relevant comparable evidence and analysis of the individual property.

In recent cases, our reports have helped clients negotiate more favourable purchase prices. While a valuation cannot guarantee a reduction, a well-supported independent opinion gives purchasers a stronger basis for negotiations than relying on the asking price alone.

Local knowledge across Lancashire and Cumbria

Commercial property values vary considerably between locations. Market conditions in Garstang can differ from those in Blackpool, Preston or Lancaster, while the demand for industrial premises, workshops, retail units and investment properties can vary significantly even within the same town.

Our experience of the regional market helps us assess individual properties in their local context, including where directly comparable evidence is limited.

Armitstead Barnett undertakes commercial property purchase valuations across Garstang, Blackpool, Lancaster, Preston, Clitheroe, Burscough, Lytham, the Fylde, Leyland, Chorley, Blackburn, the Ribble Valley and Kendal, alongside surrounding towns and villages throughout Lancashire and Cumbria.

Confidential, independent professional advice

The properties mentioned above are examples of our recent work, but we cannot disclose specific addresses or client details. Maintaining confidentiality is an important part of our professional responsibilities.

Whether you are acquiring a commercial investment in the Garstang area, buying industrial premises in Blackpool or considering an off-market opportunity elsewhere in Lancashire or Cumbria, an independent RICS valuation can help you understand the property’s market value before committing.

At Armitstead Barnett, we combine detailed valuation reporting, professional standards and local commercial property knowledge to help purchasers make informed decisions.