CLIENT BRIEF
RTP Surveyors were instructed to provide an RICS Red Book valuation of a converted farm building forming a four-bedroom residential property in St Issey, Wadebridge. The valuation was required for probate purposes and undertaken in accordance with RICS Global Standards and International Valuation Standards.

KEY CONSIDERATIONS
The property had been actively marketed prior to the valuation date, with a reduction in the advertised asking price noted within the market period.

Although the dwelling had been converted to a high standard, wider market conditions within Cornwall were considered, including reduced demand for higher-value residential assets and increased market sensitivity following wider economic and fiscal changes affecting property investment and transaction activity.

The valuation required interpretation of comparable evidence within a relatively limited high-end market segment, with adjustments made to reflect location, specification, and prevailing market conditions at the valuation date.

Professional judgement was applied in accordance with RICS requirements to ensure a balanced assessment of market value.

OUTCOME
An RICS Red Book valuation report was prepared for probate purposes, confirming the Market Value of the property at £1,150,000.

The report provided a formal valuation assessment reflecting both the physical attributes of the property and prevailing market conditions at the time of inspection, suitable for submission in connection with probate administration.