Bayleys makes appointments for new business strategy

Bayleys Real Estate has appointed two senior business valuations specialists to its operations as part of its new business strategy to increase the scope of professional services to the commercial, industrial and retail property sectors.

John Freeman and Paul Butchers have joined Bayleys Valuations in Wellington as the company expands its nationwide coverage in the property and asset valuations fields - which have traditionally been run out of Auckland.

Together, Freeman and Butchers bring with them some 60 years combined expertise in the industry.

Freeman specialises in plant and machinery valuations - including property and asset tax depreciation - while Butchers' background encompasses property asset valuations.

Both men were previously with rival firm CBRE before leaving to join Bayleys.

Further senior personnel appointments in both the Wellington and Auckland property valuations teams are expected to be made in the coming weeks as the group continues to grow.

Bayleys Real Estate managing director Mike Bayley says property owners, along with potential buyers or tenants of commercial property, are constantly seeking the most accurate and up-to-date data on which to base their commercial decisions or to populate financial reports.

"This demand for information has become even more evident following the upheaval and downward realignments of both values and rental levels in the commercial property sector as a result of the global economic crises over the past 18 months."

He says combined with on-going speculation over the Government's comments that changes to the tax structure of investment properties will be forthcoming in the near future, along with potential tax refinements on assets and asset depreciation, there has never been so much clamour for the expertise knowledge of a valuations division.

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