Special valuations

Frequently asked questions

What do special valuations cover?

Standalone industrial units and those in business parks, logistics warehouses, distribution centres, production plants, manufacturing complexes and designated industrial land, as well as the valuation of businesses, productive units and intangible assets (brands, patents, goodwill) for all kinds of processes. We do not value residential housing or conventional commercial office space.

What standing do your special valuation reports have?

The reports are prepared under RICS Red Book standards as a regulated firm, with tax and transaction standing before Spanish and European financial institutions, auditors, courts and administrations. They are the basis that a risk committee, a notary or the tax authority accepts directly.

How do you value a business or productive unit?

We combine the income approach (discounted cash flow of the productive unit, DCF), the market approach (multiples and comparables from real transactions) and, where applicable, the cost approach on the asset base. The report documents the basis of value applied and justifies it under the RICS Red Book, separating the value of the property, the productive assets and the intangibles where the engagement requires it.

Do you value intangible assets such as brands, patents or goodwill?

Yes. We value brands, patents, industrial and intellectual property portfolios and goodwill for corporate transactions, restructurings, purchase price allocation (PPA) and financial reporting. We apply the relief-from-royalty, excess-earnings and market-comparable methods according to the nature of the intangible.

What methodology do you apply to the valuation of industrial units?

We combine the three RICS approaches: cost (land plus depreciated construction), market (recent transactional evidence and comparables in the logistics area) and income (capitalisation of gross and net rents). The report documents all three and justifies the final weighting.

Do you carry out Sale & Leaseback of industrial property?

Yes. We support the client throughout the transaction process: valuation of the property, analysis of the leaseback's return, search for an industrial property investor and support in negotiating the terms of the subsequent lease agreement.

How long does a special valuation report take?

Standard 5-10 working days from the technical site visit or receipt of documentation. Landmark units, manufacturing complexes or business valuations require between 2 and 4 weeks depending on floor area, the documentation available and the complexity of the associated productive unit or intangible.

How is the valuation of the property integrated with the machinery inside it?

They are two complementary services. For a single engagement we usually value the unit (land plus construction) and the assets inside it (machinery, lines, equipment) separately, with two coordinated reports. This is necessary for Sale & Leaseback (where the SLB usually covers only the property) and for IFRS reporting (which separates asset categories).

Do you carry out valuations for real estate investment funds (SOCIMI, FII)?

Yes. We work for industrial funds specialising in logistics units and distribution centres, with recurring valuation timetables under the RICS Red Book. We cover both the property portfolio and, where applicable, the valuation of the companies and productive units the fund holds.