How long does it take to revalue a property?

I too am not impressed. despite chasing and getting nowhere, so today I emailed one of the directors and asked.

I got an email back not from the director I emailed, but from someone else, below is the response.


Please accept my apologies for the delayed response in regards to the HMO properties being put back on the Secondary Market.

Over the last 6 or so weeks, we have been working hard to get a number of the units in the portfolio revalued. There are still some properties that we are waiting to hear back about as this is not a small undertaking.

Those properties that have been looked at have been given a desktop valuation from one (or more) PLC property companies and are 'investment valuations'. The reason for us obtaining this type of valuation initially is part of our on-going aim to offer the best exit route for all properties. We are exploring a private investor sale for some of the units, whilst others may go on the open market. You will, as ever, be asked to vote on the preferred exit strategy as and when the time comes.

Now we are starting to receive some of the investment valuations, we are getting ready to start marketing some of the units on the open market. Whilst undergoing this process, we felt it was appropriate to remove the properties being valued from the secondary market as it would be unfair to trade shares whilst we await an offer and confirmation of an updated valuation.

I hope this helps provide some insight and we aim to provide an exit as soon as possible, whether it be on the open market or by releasing again on the secondary. As soon as there is further information to disclose, will be in touch. As always, please don't hesitate to get in touch if I can assist with anything else in the meantime.


What I don't understand, is why it takes such a long time to do a desktop valuation, and why are they looking to exit (SPV41) when there is over a year left. Call me cynical but I think it the answer is a load of rubbish

They might be getting their properties/excuses mixed up, or it could be that SPV41 is being revalued at the same time by the same people who are revaluing other HMOs that actually are at/coming to their end of term.  I wouldn't have thought they're looking to exit SPV41 early.  All just conjecture on my part though...

They don't appear to be making revaluations of properties that are vacant or severely underachieving.

Maybe they have realised they've overstretched and want some properties off their sheets, starting with profitable ones to show how great the model works?

All just guesswork on my part.. I was actually in the middle of increasing my holdings in one of these properties and I'm sure there's sellers out their who would happily want the money. It's annoying at best

It was SPV32 I was buying more of.. Doesn't look like shares from either will be available until PM get their act together!

Any words on spv 41? Nothing regarding spv 32..

Oh how cynical you are! Or are your thought processes just going round in circles?

Assuming the sales are voted through, it will be interesting to see what the results are.

Not going round in circles but the logic pm are using to justify 2.5 months off the secondary market for a lot of properties, some of which have good yields and over a year left, doesn’t stand up to reason. Unless there’s another agenda. Just look at how long new and relisted properties take to fill compared to a year ago and their turnover must be suffering greatly. Just look at the fees they get for buying and selling against almost nothing for holding properties. Add this to the poor returns on exit for a lot of properties and they have disgruntled investors too. Last one out, please turn out the lights 😂