Project Brief

Rushton International valued a boutique country hotel that included spa, golf and leisure facilities. The hotel was Grade II listed and has been extensively modernised together with the addition of former outbuildings, such as stable blocks.

Due to the fact that the hotel had been refurbished and modernised over a long time period, together with the repurposing of additional farm buildings, the client decided to commission a real estate valuation for insurance purposes.

Our approach

Prior to completing the site survey, we requested information such as floor plans and schedules of expenditure relating to the recent works undertaken. We also reviewed the listed entry for the property so that we could factor this into our site survey time.

We attended the site on the days agreed and surveyed the hotel buildings, also agreeing to an inspection schedule with the onsite staff so that we could view a sample of bedrooms, the back of house space, restaurants and other guest areas. During the inspection schedule, we took check measurements and listed key building features and also held meetings with the golf course maintenance team to review the design and landscaping work undertaken.

Benefits

We helped the client by providing them with a detailed real estate valuation report, which provided a breakdown of value for the main hotel together with separate values for each building. We also included a reconstruction value for the golf course.

Our real estate valuation concluded that the client was incorrectly insured as a result of indexing historic values and adding on the contract sum to said figure. The project cost had been added to the existing sums insured and the project costs were high due to the amount of enabling works required to keep the hotel operational.