Richard is a Partner, working in Newmark UK’s Specialist Property Rating and Valuation team, based in the London office. He specialises in asset valuation and rating matters and has experience of specialised properties and those used for charitable purposes.
He provided a complete rating appeals and consultancy service to more than 30 universities in the 2005, 2010 and 2017 rating lists, saving them in excess of £10m through reductions negotiated in the 2010 rating revaluation. He also provides rating advice to a number of major national museums and galleries including the British Museum, for which he secured a rate rebate of more than £1m in the 2000 rating revaluation. Richard has particular expertise in DRC valuation techniques including asset lifting and componentisation apportionments.
His clients include universities, local authorities, NHS trusts, major national museums and London estates.
Recent projects
- UK University Sector – Business Rates Agreement – Richard is the lead negotiator on a memorandum of agreement on the valuation of universities for rating purposes in the 2005, 2010 and 2017 Rating Revaluations.
- North West Cambridge Investment Portfolio – He is the client partner responsible for asset valuation of University of Cambridge investment portfolio comprising key worker housing, community assets, retail and development land.
- King’s College London – Richard provides business rates and valuation advice across all elements of KCL’s multi-site estate. His recent work includes a full estate valuation for financial reporting; strategic valuation advice on properties being considered for potential disposal; and empty rates advice on the University’s Aldwych Quarter site.