At Oakwood, we understand that managing property portfolios can become increasingly complex over time, particularly where properties have been owned for many years or form part of a probate estate. Alongside providing accurate valuations, we help clients identify opportunities to protect and enhance the value of their assets through strategic property advice.
A recent probate instruction involving a mixed residential and commercial portfolio demonstrates the value of this approach.
Probate Valuation
Oakwood was instructed by solicitors acting on behalf of an estate to provide probate valuations for a portfolio of residential and commercial properties following the owner’s passing.
Our Managing Partner and Registered Valuer, Graham Bowcock, carried out the valuations required to support the estate’s Inheritance Tax assessment. Whilst access to every property was not immediately available, the instructing solicitors provided tenancy agreements and lease documentation to assist with the valuation process.
Identifying Hidden Issues
As the valuation work progressed, it became clear that a number of the tenancy agreements and commercial leases required further investigation.
Several commercial leases had expired without being renewed, rent reviews had not been completed, and some documentation contained inconsistencies regarding the parties to the agreements. These issues had the potential to affect both the ongoing management of the portfolio and its overall value.
Recognising this, Oakwood recommended a comprehensive review of the portfolio.
Expert Lease and Tenancy Review
The review was led by Chartered Surveyor Lydia Sirovica, who specialises in leasehold consultancy and landlord and tenant matters.
Lydia reviewed every tenancy agreement and lease, securing access to the majority of the properties to assess both their condition and the legal documentation supporting them.
The review identified a number of opportunities to strengthen the portfolio, including:
- Updating outdated or defective tenancy agreements and leases.
- Completing outstanding rent reviews.
- Clarifying repair obligations between landlords and tenants.
- Identifying residential compliance and safety requirements.
- Modernising lease documentation to reflect current legislation and commercial best practice.
Working closely with the owners, Oakwood developed a strategy to improve the quality of the legal documentation across the portfolio while protecting its long-term value.
Preparing the Portfolio for Sale
Following our recommendations, the owners decided to place the portfolio on the market.
By resolving historic lease issues, documenting tenancies correctly and addressing outstanding matters before marketing, the portfolio became significantly more attractive to prospective purchasers. Well-structured, legally robust leases provide greater certainty for buyers and can have a positive impact on the overall value of an investment portfolio.
The Outcome
- Probate valuations completed for Inheritance Tax purposes.
- Defective leases and tenancy agreements identified.
- Strategic review undertaken across the entire portfolio.
- Rent reviews and lease improvements recommended.
- Residential compliance issues highlighted.
- Portfolio prepared for sale with strengthened legal documentation.
- Added value through proactive asset management advice.
This instruction demonstrates how Oakwood’s expertise extends far beyond valuations. By combining valuation, leasehold consultancy and strategic asset management, we help clients unlock the full potential of their property portfolios while reducing future risk.
Need Advice on Your Property Portfolio?
Whether you’re administering a probate estate, managing a mixed-use portfolio or preparing investment properties for sale, Oakwood can provide practical, commercially focused advice tailored to your circumstances.
To discuss your portfolio or learn more about our valuation and lease consultancy services, contact our team on 0161 941 4228 or email enquiries@oakwoodpropertyservices.co.uk.
