Experts in Property Valuation, Melborune
Providing independent property advice in rural, commercial, residential, development and specialised sectors
Preston Rowe Paterson Melbourne’s offices are situated at the epicentre of one of our nation’s most vibrant capital cities.
Melbourne is renowned for being a prime business hub, for its cultural and recreational centres and, of course, as the sporting capital of Australia.
Established in 1989, the Preston Rowe Paterson Melbourne office has an extensive history of providing property advisory and valuation services to a diverse range of clients including financial institutions, listed and unlisted property trusts, public and private corporations of all sizes, self-managed superannuation funds, associations, government, statutory authorities and not-for-profit organisations.
Our team of property professionals covers all types of property, managing complex advisory on specialist property classes, residential valuations and advisory services.
We are committed to developing long-term partnerships with our clients by providing cost-effective, independent advice in order to assist our clients in making informed and strategic business decisions.
Preston Rowe Paterson Naarm (Melbourne office) would like to acknowledge the Boon Wurrung, Woi Wurrung Wurrundjeri, Wurundjeri Willum and Wadawurrung People of the Kulin Nation, who are the Traditional Custodians of the lands on which we work and provide our services. We pay our respects to all Elders past and present, and extend that respect to all Aboriginal and Torres Strait Islander peoples’ ongoing connection to culture, land, air, waterways and seas.
“We know that people make the difference.”
So we only engage the best professionals who are committed to delivering a superior service. Our aim is to always provide superior property advisory services, consulting and valuations, as well as property market and economic research to assist our clients to make better property decisions.
Our professional property consultants are members of the Australian Property Institute.
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Featured Services
We provide valuation, analytics, and consultancy services for all forms of real estate including but not limited to rural, residential, commercial and development.
Other Services
- Mortgage Services
- Expert Witness Services
- Family Law Services
- Taxation Services
- Government and Statutory Services
- Insurance and Depreciation Services
Mortgage Services
- Mortgage valuations of existing & proposed real estate
- Desktop assessments based on local knowledge
- Mortgage valuations of development sites including group dwelling, multiple dwelling and land subdivisions
- Building progress inspections
- Investment, development and occupancy real estate advice
- Strategic mortgage portfolio risk review
- Mortgagee in possession valuations
- Bank and financial institution valuation panel appointments
- Valuation aggregator panel appointments (VALEX and VALOCITY) – B2B Connectivity
Expert Witness Services
- Lease & rental disputes including determinations
- Family law matters
- Partnership disputes
- Taxation and rating disputes
- Compensation and resumption matters (Section 241 of LAA, Planning & Development Act)
- Deceased estates
- Specialist litigation support
Family Law Services
- Portfolio assessment and valuation
- Historical valuations (date of cohabitation)
- PRP Senior valuers are experienced in acting as Single Expert Witness or Shadow expert
- All valuation reports are in compliance with the Family Law Act 1975, Family Law Rules 2004 (Single Expert), Federal Circuit Court Rules 2001(Court Expert), Common law and Practice directions of the Family Court and Federal Circuit Court
Taxation Services
- Capital gains tax valuations
- Land tax reviews
- Valuations for GST margin scheme
- Valuations for superannuation fund compliance
- Stamp duty valuations
- Tax depreciation schedules (compliant with ATO requirements)
- Valuation-based statutory assessments returned in rates and land tax notices
Government and Statutory Services
- Advice for property disposal and acquisitions
- Project feasibility analysis
- Public and open space contributions
- Asset and financial reporting valuations
- Leasing and rental review
- Heritage and specialised asset valuations
- Valuations for rating and taxing purposes
- Property portfolio analysis
- Compulsory acquisition (resumption) and compensation valuations
- Statutory valuation review
Insurance and Depreciation Services
- Insurance replacement cost valuations
- Strata Insurance replacement cost valuations
- Insurance reinstatement cost valuations
- All types of building insurance valuation
- Depreciation schedules for taxation purposes
PRP Melbourne Directors
Director
Neal has 25 years’ experience in property valuation and consultancy across Victoria, and is a Director of PRP Australasia and PRP Melbourne. Neal’s experience covers areas of valuation including commercial, industrial and residential.
Neal has expertise in Metropolitan Melbourne as well as the Mornington Peninsula. He has acted for local and state government agencies with their acquisition and disposal programs and undertaken audit assessments for the State Revenue Office. He has worked for a number of Commonwealth agencies in the same capacity.
Neal has extensive mortgage valuation experience and has undertaken work in the field of hypothetical subdivisions for development clients for lending purposes.
In 1996, Neal, along with fellow director Damian Kininmonth, commenced Ellis Property Group, which in 2007 merged its practice with Preston Rowe Paterson.
Director
Damian has over twenty-five years’ experience in the property market across Melbourne through his extensive valuation experience acting for a number of major commercial and retail banks and non-bank lending institutions. Damian has also been engaged to provide property consultancy services for numerous solicitors, accountants, and developers as well as private clients.
During his career, Damian has undertaken the role of expert witness in a number of circumstances within the dispute resolution process. He has acted for local government agencies in their acquisition and disposal programs and worked for a number of Commonwealth agencies in the same capacity.
Damian continues to provide a hands-on, diverse service across all property classes, including retail, residential, commercial, and industrial. As the Melbourne Director, he manages the Melbourne team in conjunction with Neal Ellis and has overseen the continued expansion of the service offering of this office.
Whilst Damian is a hands-on Director in terms of undertaking valuation and advisory work for the diverse range of Preston Rowe Paterson clients, a significant part of his role is one of mentor and advisor to the high-quality team of professionals that make up Preston Rowe Paterson. Utilising his diverse property experience, he provides guidance to the senior valuation staff and implements learning and training programs for the junior members of the team.
The Preston Rowe Paterson group comprises 35 office locations and over 200 staff, with the aim to be the leading provider of high-quality property advice across Australia. Damian’s role is to provide not only the vision but to assist in the implementation of that vision and develop the processes that ensure the success of the group across a range of business units, geographic locations, and skill sets.
Damian was instrumental in the development of the national common valuation platform and the framework for the development of the franchising model of valuation practices. As a National Director, Damian has been focused on improving the quality and standard of reporting via the use of modern technology platforms, the implementation of inter-office peer reviews, and best practice compliance standards.
FAQs
An independent property valuation is a comprehensive legal report provided by a qualified, independent licensed valuer recognised by the court of law. The report determines a property’s market or rental value for lawful purposes like refinancing, mortgage, capital gains tax, and other specialised valuation requirements.
What do property valuers include in a property valuation report?
The content will vary depending on the property type and purpose, however, generally, a full property valuation report prepared by a licensed property valuer will include detailed legal and physical descriptions of the property, such as description of land and improvements, council zoning restrictions, fixtures and features and ancillary improvements. An extensive analysis of variables that contribute to the market value of the property will be carried out as part of the valuation including recent comparable sales, market evidence and overall market conditions.
Bank valuations are done as part of working out an amount of money to loan to ensure the home loan does not exceed a property’s value. This is because the property is used as security for the loan. If the borrower defaults on payments, the lender has the right to take possession and dispose of the property to recover the outstanding mortgage.
The main difference is that a property appraisal conducted by a real estate agent has no legal basis and will not stand in a legal court in Victoria Property appraisals can be targeted towards a marketing strategy to list the property for sale. On the other hand, property valuations completed by an independent licensed valuer hold no conflict of interest and can be used to resolve legal disputes in court.
Our team of property valuers located in Victoria, use our internal systems, skills and experience to meet client requirements. We ensure due diligence is taken at every step of the process throughout a property valuation. From obtaining written agreement from our clients, undertaking a formal inspection of the property (where required), researching and analysing relevant property information and finally generating a detailed report providing rationale as to the value of the property.
PRP has some 38 offices across Australia & New Zealand.