Bayleys gets value out of placements

(From left) Mike Bayley, Paul Butchers and John Freeman. Photo / Supplied

In line with a new business strategy to increase the scope of professional services to the commercial, industrial and retail property sectors, Bayleys has appointed two senior business valuations specialists to its operations.

John Freeman and Paul Butchers have joined Bayleys Valuations in Wellington as part of an expansion of the agency's nationwide coverage in the property and asset valuations fields. Traditionally these services have been run out of Auckland.

Bayleys Real Estate managing director Mike Bayley says Freeman and Butchers have 60 years of combined expertise in the industry. Bayley said the expanded valuation service would complement the company's existing strengths in property management and research.

Both men were previously with rival firm CB Richard Ellis before leaving to join Bayleys, and are fellows of the Property Institute of New Zealand. Butchers is also a fellow on the New Zealand Institute of Valuers.

Freeman specialises in plant and machinery valuations, including property and asset tax depreciation, while Paul Butchers' background encompasses property asset valuations.

The duo will work in co-operation with the Auckland-based unit headed by Allen Beagley, who specialises in hospitality and tourism property asset valuations throughout New Zealand and in the Pacific Islands, and James Pullin, who specialises in the wider Auckland commercial property market.

Mike Bayley says further senior personnel appointments in the Wellington and Auckland property valuations teams are expected to be made in the coming weeks.

"Property owners, along with potential buyers or tenants of commercial property, are constantly seeking the most accurate and up-to-date data on which to base their commercial decisions or to populate financial reports," Bayley says.

"This demand for information has become even more evident following the upheaval and downward realignments of both values and rental levels in the commercial property sector as a result of the global economic crises over the past 18 months.

"Combined with ongoing speculation over the Government's comments that changes to the tax structure of investment properties will be forthcoming in the near future, there has never been so much clamour for the expert knowledge of a valuations division.

"The appointments of John and Paul to our valuations arm is a major coup in valuation circles, and will give customers access to substantial factual and topical data prepared by two of the city's best practitioners.

"While being based in Wellington, the new valuations team will service clients nationwide across a broad spectrum of sectors, ranging from processing and manufacturing through to local government bodies.

"The company already has a client list of private and corporate property owners, and for some time now has been actively involved with valuing real estate for financial institutions and banks."

Bayley says the valuations group will operate totally independently of the sales and leasing teams.

"It's important this degree of separation is transparent and impartial, as the information generated from a valuation report could be used by any number of parties involved in a property transaction - the buyer, the seller, the tenant or the lender."