Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Capital value definition

What does Capital value mean? In practice, capital value describes the lump‑sum price a property or land interest would command, i.e. its market value on sale, as distinct from its periodic rental value. It is a descriptive valuation term used across conveyancing, secured lending, financial reporting, probate, tax and compulsory purchase. Statutes in the UK and Ireland typically refer to “market value” rather than “capital value”; valuers therefore assess capital value in line with market value principles (commonly the RICS Valuation – Global Standards), using comparable sales, yields and development assumptions, and reflecting whether the interest is with vacant possession or subject to lease. Usage...

Trustee investment in commercial property: indirect vehicles (unit trusts, REITs, partnerships), direct ownership, valuation standards, depreciation and independent valuers

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Practice notes

Commercial property

Commercial property exists to deliver a financial return for the owner by being occupied or used by businesses. That return may arise as rent paid by tenants, or through growth in the asset’s Capital value, realised on disposal of the property.

Key contrasts between residential and commercial investment include:

Costs — large, high‑quality commercial assets generally carry significantly higher price tags than residential property.
Valuation — the distinctive nature of many commercial buildings means reliable valuation usually requires professional advice, while house prices are comparatively straightforward to compare.
Commercial leases — these typically run for much longer than residential leases, often feature upward‑only rent reviews (so rent cannot fall at review), and place repair and Maintenance duties on tenants.

The decision to invest in commercial property

Trustees may invest in commercial property either directly or indirectly. Indirect investment involves placing funds into a product that itself invests in property...

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Web page updated on 22/05/2026

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