There comes a time in every plant owners life where they have to make a decision and get the plant valued. This happens for many reasons, but in the case of plants and machinery, the primary reason that you would conduct a valuation is to get the plant valued so that you can sell it, or part of it, off. Knowing the worth of your plant is incredibly important, simply because if you do not, you can end up underselling yourself and not taking part in amazing opportunities to get back the money that you put into the business over the years.
How its done
There are several ways in which you can determine the overall value of the plant.
- Machinery: One of the first things that gets looked at when you are in the process of valuing a plant is the value of each piece of machinery. This gets determined in a few ways. One of the ways is to look at how old the machinery is, versus the condition that is in. Machinery that is aged but still works perfectly and shows signs of having been cared for tend s to fetch a higher price than machinery that has trouble running. Another thing that gets looked at is the performance of the machine, how does it perform now compared to when it was first bought? If it is still the same or better, then you can be sure that it will fetch a decent price on the market.
- Location: The actual plant location is also a factor when determining the overall price of it. The reason for this is that people will pay a lot for a good location. Other plants in the area may also be looked at. If the plant is in an area where plants fetch a lot, the value of it automatically goes up.
- Maintenance: How well has the plant itself been maintained over the years? Is it immediately fit for occupation or does it need renovations? These are a few of the things that will be taken into consideration when you are getting your plant valued. The more functional it is, the higher the price that you will get for it will also be.
These are some of the factors that go into valuation of a plant. When you decide to have your valuation done, make sure that you get a registered consultant to do it for you, as you will need a certificate of valuation before you can proceed with anything else that is practical. Here at The Property Partnership, we are proud to say that we are the experts when it comes to the valuation of commercial property. You can always trust us to give you the very best results. For more information, visit Property Partnership.