Commercial property valuation advice published

New guidance on the valuation of commercial property has been launched by the Royal Institution of Chartered Surveyors (Rics).

The advice from the body has been created specifically for the sector and is expected to clarify existing information featured in the organisation's Red Book.

It considers what guidance both valuers and lenders can provide during loan security reviews while the price of assets is changing rapidly.

David Rusholme, valuation director of Rics, said: "Valuers are well placed to have a unique insight into the future prospects for any property asset.

"The new guidance provides a framework for an active dialogue between valuer and lender client."

Details about the advice have come after research by National Energy Services revealed that commercial property owners need to improve their compliance with efficiency guidelines.

It was found that 80 per cent of agents were unable to provide energy performance certificates for offices and shops on the market.