Valuation Sectors
Our Valuation Sectors include:
Banking Sector
Lee Property has been providing a diverse range of property valuations for the Banking Industry for the past 20 years. We act for the 4 major corporate banks within Australia.
The strength of our regional and urban growth corridor valuation solution was validated several years ago when a major banking client reduced its national panel of suppliers from 34 to 11, and in doing so increased the geographical operational footprint of Lee Property.
We also hold positions on a wide range of non-major, but significant national banking institutions, and member-based Credit Unions.
Our services relate to the valuation of properties within the residential, commercial/retail, industrial and rural sectors for first mortgage lending purposes and asset recovery.
Corporate Sector
Lee Property has its foundations in advising major corporations within Australia, principally within the electricity generation, and oil/ gas sectors. This is a result of the resource rich nature of the La Trobe Valley and the offshore gas and oil fields in Bass Strait.
We continue to strongly advise these sectors today, together with the emerging clean energy sectors of wind, hydro and solar power generation.
Lee Property regularly plays a major consultative role to a range of private corporations in asset acquisition, portfolio revaluation for financial reporting purposes, lease agreement review, and various asset strategy development.
A major area of specialised valuation and advisory within Lee Property is for pipeline easement acquisition and compensation.
Government Sector
Together with the Corporate Sector, Lee Property has strong foundational links to the Government Sector at all three levels of government (Local, State and Federal).
We have acted on many occasions for various government departments for the purchase and sale of assets, major asset portfolio re-valuations, and compulsory acquisition matters.
Some of these projects included major water authority infrastructure asset upgrades, road widening, jetty licence rental valuations, and crown lease rental valuations.
Lee Property is actively working in this sector today and has held a long-term appointment on the Valuer General Victoria’s panel of approved professional valuers and advisors.
Private Sector
Lee Property regularly provides a range of valuation and advice to the private sector and individuals.
We take great pride in assisting people with their questions and queries in relation to property matters both large and small.
The typical tasks that we are engaged to advise on include pre-purchase market value advice, pre-sale (disposal) market value advice, valuation advice for Capital Gains Tax assessment purposes, market rental valuation advice, and self-managed superfund valuation advice.
Legal Sector
Lee Property has held a long-standing professional association with the Legal Profession and its practitioners within our region.
We are regularly instructed to advise Legal Firms and their clients in matters such as Family Law Disputes, Property Settlements, Probate matters, market rental valuations and rental determinations.
Lee Property’s experienced Certified Practicing Valuers are regularly asked to act as Single Expert Witnesses in advising the Courts in property disputes.
It takes specific care and professional skill to advise the Courts as a Single Expert Witness and it is a role that we are both professionally very proud of and take very seriously.
Residential Sector
Lee Property has a significant profile of our annual workflow from the residential property sector, stemming principally from our banking clients, but also from private clients.
We complete over 10,000 individual residential property inspections and valuations annually.
Our advice typically includes ‘As Is’ and ‘On Completion’ market valuations, rental valuations, construction progress inspections and some retrospective market valuations. However, we also provide expert market valuation advice in residential unit/townhouse development projects and large Englobo residential allotment subdivisions.
The markets for this asset class vary significantly across our geographical footprint and includes prestige residential properties in the Yarra Valley and Mornington Peninsula, coastal properties throughout South Gippsland and East Gippsland, and alpine housing in Dinner Plain and Mt Hotham. Our senior valuer and Partner Henry Lee is particularly active in advising clients in the prestige residential sector on the Mornington Peninsula.
Lee Property has experienced valuers across the breath of this diverse asset class, to assist clients on a daily service basis.
Commercial & Retail Sectors
At Lee Property we have a very strong company profile in advising clients in the commercial and retail property sectors.
Our senior valuers inspect and value properties ranging from small scale retail premises to large footprint bulky good retail stores, through to purpose-built Government Office Buildings. We provide advice on market value, insurance replacement cost, market rental value for a diverse range of assets in this category for a range of client (Banking, Private, Corporate and Government).
One such recent example was the instruction to value the ‘Newmason’ mixed use project in the Warragul CBD. This project encompassed a large basement carpark, 1,300 square metre specialised medical clinic, 48 room ‘Mecure’ Hotel complex, large integrated restaurant premises, various ground floor retail tenancies, and 7 rooftop apartments.
Various other valuation instructions have included national retailers such as Harvey Norman, Spotlight, Macpac (formerly Ray’s Outdoors), BCF, Officeworks, Supercheap Auto, Tradelink, and Bunnings Warehouse.
Our senior valuers Tim Shaw, Corey McMahon and Chris Jordan have extensive experience and specific expertise in this sector.
Industrial Sector
Valuation and Advisory in the industrial sector has been a cornerstone of Lee Property’s service offering over the past 30 years.
The La Trobe Valley region has been Victoria’s principal electricity generation source since the 1960’s and represents a significant supply solution to the national power grid today.
Accordingly, there is a large asset base of heavy industrial uses in Morwell and Traralgon, the large majority of which have been inspected and valued by our experienced professionals over the past three decades.
There are however significant industrial components within all the major regional townships within Gippsland, and our specialised industrial valuers have extensive knowledge in this asset class.
Lee Property has also been engaged in many modernised industrial factory projects within Traralgon, Warragul and the South East Business Park, in Pakenham.
Our senior valuers Tim Shaw, Corey McMahon, Chris Jordan and Henry Lee have extensive experience and specific expertise in this sector.
Rural & Agribusiness Sector
Valuation and Advisory in the Rural and Agribusiness sector has once again been a cornerstone of Lee Property’s service offering over the past 30 years.
Our senior valuer Tim Shaw was trained whilst working in a highly specialised, boutique agribusiness valuation firm, who provided national valuation expertise to banks and corporate clients across a wide range of pastoral, horticultural, cropping and viticulture assets.
In addition, the founding principal of the company Mr Chris Lee began his early career in the agricultural sector and achieved an Honours Diploma in Farm Management
Over the past 15 years Lee Property (including through fully owned subsidiary businesses) has completed a wide range of large-scale rural valuation assignments including:
- Large dairy enterprise holdings in the Macalister Irrigation District and South Gippsland Region
- Large pastoral holdings throughout Central, South and East Gippsland.
- The valuation of 16,000 hectares of beef grazing holdings on King Island, Tasmania; and
- The valuation of ‘Tipperary Station’ in the Northern Territory, comprising some 1 million hectares.
Tourism Sector
The Gippsland, Mornington Peninsula and Yarra Valley regions have thriving tourism industries, with East Gippsland and the South Gippsland regions having strong holiday accommodation markets.
Lee Property has extensive experience in this sector, having completed a wide array of valuations for Accommodation facilities (Motels and Hotels), Restaurants, Bed and Breakfast complexes, Tourism Resorts, caravan parks and other specialised assets.
The valuation of assets in this sector also typically includes a Business Value (or Leasehold) component attached to the physical real estate component. The valuation of tourism and hospitality ‘going concerns’ requires expert skill and experience.
Our senior Valuer Mr Chris Jordan is a specialist in this area of valuation practice.
