Vehicle dealerships considers the factors that affect the valuation of this property type and elements related to the valuation process itself. The vehicle dealership market is a finite market. It has external influences, in particular, influences from vehicle manufacturers, which must be fully appreciated in order to understand how the property market functions, what drives it and influences and determines value.
A vehicle dealership is only a vehicle dealership if a vehicle franchise exists or is available. If the property is no longer suitable for a franchise, or there is no vehicle franchise available, the valuer will need to consider alternative uses when undertaking a valuation.
Related RICS professional guidance
RICS standards and guidance: Insurance for commercial property managers
RICS standards and guidance: Comparable evidence in property valuation
RICS standards and guidance: VPGA 4 Valuation of individual trade related properties
Related template: Vehicle dealership valuation checklist
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