A Charity, Scout Group and even a place of worship, registered at the Charity Commission or subject to the Charities Act 2011, that hold an interest in land, are required to follow the Charities Act 2011 when they sell, lease (over seven years) or dispose of an interest in real estate.
A disposal, which could be a sale or a surrender, requires a RICS Red Book Valuation prepared by a registered Valuer. The Valuer has to report, in addition to the Market Value, the most appropriate method of sale, if any works are required prior to sale and how the property should be marketed.
At CSquared we regularly undertake regulated Charity Act reports for small charities that own only one property, to large international charities that have a substantial portfolio.
We recently acted for the Institute of Physics to report on the surrender of a protected (1954 Act) tenancy which will ultimately bring 26,000 sq ft of space back to the market and allow the charity to move to more appropriate accommodation, better suited to their staffing needs and the aspirations of the charity.