Red Book Commercial Property Valuations

Independent. Qualified. Authoritative.

"When a property valuation carries legal, financial or commercial weight, the qualification of the person who prepares it is not incidental, it is everything."

Long & Co. is one of a very small number of practices in the West of Ireland to have two RICS Red Book Chartered Surveyors under one roof. Ronán Long, MRICS MSCSI RV, and Thomas Glavey, MRICS MSCSI RV, bring more than two decades of combined professional experience to formal property valuations for financial institutions, legal professionals, accountants, property developers, insurers and private clients nationwide.

Where matters are sensitive, complex or likely to be scrutinised by lenders, courts, the Revenue Commissioners, auditors or professional counterparties, Long & Co. provides the standard of valuation on which those decisions can confidently rest.

Why Long & Co.

Why Engage Long & Co. for Your Valuation Requirement?

A property valuation which is substandard may be contested or rejected by a Lender, a Court of Law or Revenue. The financial, legal and reputational consequences of this can be significant. The substantiated Valuation, prepared by the qualified professional, will significantly mitigate that risk.

Long & Co.‘s Red Book Valuation service is built around precision, professional independence and the rigorous standards demanded by the Royal Institute of Chartered Surveyors (RICS). Here’s what that means in practice:

Dual RICS Red Book Accreditation

Both Ronán Long and Thomas Glavey hold the MRICS MSCSI RV designation; RICS Registered Valuer status, which requires Continuous Professional Development and strict adherence to RICS ethical and professional standards. This is the most demanding Valuation standard available. Very few practices anywhere in the West of Ireland can offer this at a single point of contact, let alone across two senior professionals.

Local Expertise. Global Standard.

Long & Co. combines deep knowledge of the Irish property market with the professional framework and methodological rigour expected by Ireland's leading financial institutions, legal practices and corporate bodies. Clients receive the calibre of valuation associated with national firms, delivered by professionals who know the local market intimately and are available directly

Senior-Level Engagement, Every Time

Every valuation at Long & Co. is drafted and finalised by one of our RICS Registered Valuers. Clients engage directly with Ronán or Thomas, not with junior associates or intermediaries. For matters involving secured lending, litigation, tax compliance or corporate reporting, that process matters considerably.

Over Twenty Years of Professional Practice

Long & Co. was established in 2003 and has consistently served the legal, financial and development sectors across the West of Ireland and nationwide. Ronán and Thomas are Panel Valuers for several of Ireland's leading lending institutions and are regularly instructed by solicitors, accountants, banks and property developers on complex and sensitive matters.

Integrity, Discretion & Objectivity

Many of the matters for which Red Book valuations are required, such as matrimonial disputes, insolvency proceedings, succession planning or high-value asset transfers, require absolute discretion. Long & Co. operates with the professional independence and personal integrity that these situations demand.

The Standard

What Is a Red Book Valuation?

The term ‘Red Book’ refers to the RICS Valuation, published by the Royal Institution of Chartered Surveyors (RICS) — the internationally recognised framework that governs how formal property valuations must be prepared, drafted and presented.

A Red Book valuation differs substantially from a standard estate agent’s market appraisal. It is a formal, independently prepared opinion of value that carries full professional and legal standing, and that can be relied upon by third parties.

Estate Agent

Standard Market Appraisal

  • An informal estimate of market value, typically prepared by an estate agent
    for the purpose of listing or guiding a sale.
  • May be prepared by any licensed agent.
  • May not qualify for legal proceedings, formal lending decisions, tax submissions or corporate reporting.

RICS Registered Valuer

RICS Red Book Valuation

  • A formal valuation prepared in strict compliance with RICS Valuation (Global Standards).
  • Must be carried out by an RICS Chartered Surveyor Registered Valuer (MRICS RV), a professional qualification requiring annual CPD, and audited regularly.
  • Carries full legal standing and is recognised by Courts, Revenue, Financial institutions, Auditors and Statutory bodies.
  • Includes a formal written report outlining methodology, assumptions,market evidence and full transparency throughout.

When it's required

When is a Red Book valuation required?

A standard agent's appraisal may not be sufficient for the following purposes. A Red Book valuation, prepared by an RICS Chartered Surveyor Registered Valuer (MRICS RV), is the required standard:

01
Secured lending When banks or financial institutions require an independent valuation before approving a loan or mortgage.
02
Tax purposes Capital Gains Tax (CGT), Capital Acquisitions Tax (CAT), Inheritance Tax, Probate and Revenue submissions.
03
Legal proceedings Matrimonial and family law matters, partnership disputes, land boundary disputes and compulsory purchase
04
Expert witness Formal valuation evidence before the courts.
05
Corporate financial reporting Asset valuation for audit, insolvency, restructuring or balance sheet purposes.
06
Pension fund transfers Property assets within Self-Invested Personal Pension (SIPP) arrangements.
07
Development appraisal Land valuation and feasibility assessment for planning and investment purposes.

The Practitioners

The People Behind the Practice

Long & Co.'s Red Book valuation service is delivered by two of the most experienced and credentialled property professionals operating in the West of Ireland today. Both Ronán and Thomas are RICS Registered Valuers, a designation that must be earned through formal examination, supervised professional practice and rigorous ongoing CPD compliance.

Ronán Long

MRICSMSCSIRVBComm NUI

Ronán Long established Long & Co. in 2003, building the practice from origin into a respected centre of professional expertise for buyers, sellers, property developers, financial institutions and the legal and accounting professions across the West of Ireland.

A Member of both the Royal Institution of Chartered Surveyors (MRICS) and the Society of Chartered Surveyors Ireland (MSCSI), Ronán holds the RICS Registered Valuer (RV) designation and is regularly instructed by banks, professional bodies and property developers for formal valuations and expert opinions. He brings particular depth of knowledge to commercial property, development land and the complex transactions that require a valuation to withstand professional scrutiny. 

Before establishing Long & Co., Ronán served as an Army Captain in the Irish Defence Forces, an experience that has shaped his professional character in ways that clients consistently remark upon; precision, composure under pressure and an unwavering commitment to integrity. 

Ronán is an active member of the Regional business community, having served as Chair and Board Director with Action Tuam CLG and as President of Tuam Chamber of Commerce. His standing within the professional and civic life of the region reflects the trust built over more than two decades. 

Connect with Ronán

Thomas Glavey

B.Sc.MRICSMSCSIRVPSRA A–D

Thomas Glavey possesses a depth and breadth of valuation experience that is genuinely uncommon in the Irish market. A graduate of Limerick Institute of Technology, he has been a Member of the Society of Chartered Surveyors Ireland (SCSI) (formerly the IAVI) since 1998, and holds dual Membership of the Royal Institution of Chartered Surveyors (RICS). He is an RICS Registered Valuer (RV) and holds a PSRA Licence (A–D), enabling him to provide professional advice and act as a selling agent across all property types. 

Thomas spent more than a decade working with one of London’s leading independent estate agencies and chartered surveying practices in what is one of the world’s most demanding and high-value property markets. He held senior management roles with responsibility for residential valuation, lettings and property management, reporting directly to Group Directors and the CFO, all while managing staff, CRM integration and client relations at scale. 

In 2011, Thomas qualified as a RICS Chartered Surveyor. By 2014, he had moved into the firm’s Chartered Surveyor division where he valued thousands of properties, from leasehold apartments to substantial freehold houses in some of London’s most sought-after areas. The professional rigour, methodological discipline and client-service standards he developed there inform every valuation he undertakes today. 

Thomas returned to Galway in 2019, bringing with him a professional standard and an international perspective that is applied directly to the benefit of clients across the West of Ireland. He is a Panel Valuer for several of Ireland’s leading lending institutions and has built particular expertise in agricultural valuations, combining his deep practical knowledge of farm and rural land with the formal RICS framework. 

Thomas holds that every client, regardless of the complexity or scale of the matter, deserves the same professional approach and quality of service that the best markets in the world demand. That is the standard he brings to Long & Co. 

Connect with Thomas

Our Clients

Who we work with

The primary users of Red Book valuation services are professionals and organisations requiring formal, independent and RICS-compliant valuations for legal, financial, regulatory or tax purposes. Long & Co. works regularly with the following:

i.

Financial Institutions and Lenders

Banks, credit unions and other lending institutions are required to obtain independent formal valuations before approving secured loans, development finance or mortgage facilities. Long & Co. acts as a Panel Valuer for a number of Ireland’s leading lending institutions, providing valuations that meet the precise standards required by credit committees and compliance teams. Where speed, accuracy and professional independence are non-negotiable, Long & Co. delivers. 

ii.

Legal Professionals

Solicitors across a wide range of practice areas rely on Red Book valuations to support their clients and discharge their professional obligations. Long & Co. is regularly instructed in the following legal contexts: 

  • Matrimonial and family law
    Property valuations for divorce and separation proceedings.
  • Succession & probate
    Formal valuations of estate assets for administration and distribution purposes.
  • Partnership and shareholder disputes
    Independent valuations where commercial property is in contention.
  • Conveyancing
    W
    here a formal independent valuation is required to support a transaction.
     
  • Expert witness
    Formal valuation evidence prepared for and presented before the courts. 

Long & Co. understands the standards required for court-admissible valuation evidence and works closely with legal teams to ensure reports are prepared to the appropriate standard and within the timeframes that litigation demands. 

iii.

Insurance Companies and Brokers

Insurers and brokers require formal property valuations to underwrite policies accurately and settle claims fairly. This applies across commercial property, specialist assets, agricultural holdings and high-value residential properties. Long & Co. provides independent Red Book valuations that meet the standards required for policy underwriting, reinstatement cost assessment and insurance dispute resolution.

iv.

Accountants and Corporate Entities

Companies, partnerships and professional practices require accurate, independently verified property valuations for a range of corporate and compliance purposes: 

  • Financial reporting & audit
    Asset valuations for balance sheet purposes.
  • Insolvency & receivership
    Independent valuations of commercial and investment property assets. 
  • Restructuring & transactions
    Accurate asset values to support mergeracquisition or disposal decisions. 
  • Pension scheme compliance
    Property assets held within occupational pension schemes 

Long & Co.‘s reports are prepared to the standard required by auditors, Revenue and other regulatory bodies, providing the assurance that corporate clients and their advisors require. 

v.

Tax Authorities and Public Sector Bodies

Revenue and public sector bodies require property valuations that are fully compliant with RICS standards and capable of withstanding independent scrutiny. Long & Co. provides formal Red Book valuations for: 

  • Capital Gains Tax (CGT) disposals and acquisitions. 
  • Capital Acquisitions Tax (CAT) gift and inheritance tax submissions. 
  • Probate valuations for estate administration. 
  • Compulsory purchase and land acquisition proceedings. 

Where Revenue or a public body may challenge a valuation, clients need a report that stands on its own merits. That is precisely what Long & Co. provides.

vi.

Private Clients and High Net Worth Individuals

For individuals involved in high-value private property transactions, estate planning, pension asset transfers or litigation, a formal and independent Red Book valuation provides the certainty and professional standing required. Long & Co. operates with complete discretion and understands the importance of absolute confidentiality in personal and high-value matters. 

Services for private clients include valuations for Self-Invested Personal Pension (SIPP) arrangements, inheritance planning, high-value sale and acquisition advice and matrimonial matters. 

vii.

Charities and Not-for-Profit Organisations

Charities and not-for-profit organisations are required by the Charities Regulator and other regulatory bodies to obtain independent valuations for property transactions and asset reporting. Long & Co. provides formal RICS-compliant valuations to meet these regulatory requirements, ensuring that trustees and boards can demonstrate proper governance in property matters. 

Asset Classes

Valuations by property sector

Red Book valuations span all major property sectors. As updated RICS global standards continue to evolve, with an increasing emphasis on ESG (Environmental, Social and Governance) compliance in commercial property, Long & Co. maintains current professional competence across each of the following asset classes.

Residential Property

Residential Property

Long & Co. provides formal Red Book valuations for high-value residential properties, residential investment portfolios, shared ownership arrangements and properties subject to dispute or legal proceedings. This includes probate valuations, matrimonial valuations and properties requiring formal assessment for tax or lending purposes. Thomas Glavey's background of valuing thousands of properties across one of the world's most demanding residential markets in London provides a depth of residential valuation expertise that is brought directly to bear on West of Ireland properties

Commercial Real Estate

Commercial Real Estate

Long & Co. valuations cover all major commercial property asset classes: office buildings, retail units, industrial and logistics facilities, as well as hospitality properties including hotels, licensed premises and pubs. Commercial property valuations are frequently required for secured lending, corporate reporting, acquisition due diligence and investment appraisal. Each valuation is prepared with rigorous market analysis and full compliance with RICS standards.

Agricultural and Rural Property

Agricultural and Rural Property

Agricultural land valuation is an area of expertise for Long & Co. Thomas Glavey combines his RICS Registered Valuer qualification with a lifelong understanding of farming and rural land management, having grown up on a family farm and actively managing agricultural land alongside his professional practice. This gives Long & Co. a distinctive advantage in farm valuations, agricultural land sales, forestry and woodland assessments and rural estate matters. Valuations are frequently supported by specialist reports and are prepared to the standard required by Revenue, lending institutions and estate practitioners.

Development and Investment Property

Development and Investment Property

Land with development potential, investment portfolios and mixed-use assets require valuation expertise that encompasses planning, yield analysis and market dynamics. Long & Co. provides formal RICS valuations for development land acquisitions and disposals, planning-related feasibility assessments, investment property appraisals and portfolio valuations. Ronán Long's extensive experience in development consultancy and his long-standing relationships with property developers across the region make Long & Co. a trusted first port of call for development-related valuation work.

Specialised Assets

Specialised Assets

Some property assets require specialist knowledge that goes beyond standard commercial valuation. Long & Co. has experience with purpose-built student accommodation, healthcare and medical facilities and infrastructure-related assets. These asset classes demand a clear understanding of operator yields, covenant strength, lease structures and sector-specific market dynamics, all of which are incorporated into the formal Red Book report.

How We Work

Our Valuation Process

Long & Co. operates a clear, structured process for all Red Book valuation instructions. Every step is managed by a RICS Registered Valuer, ensuring full compliance with RICS Valuation Global Standards throughout.

01

Initial Consultation

We begin by speaking directly with the instructing party, whether that’s the property owner, solicitor, accountant or the lender's representative, to fully understand the purpose of the valuation, the nature of the asset and any specific requirements or constraints. The purpose of the valuation determines the basis of value to be applied (market value, fair value, investment value, etc.) in accordance with RICS standards.

02

Instruction and Confirmation

Having set out our Terms of Engagement, we confirm our instructions in writing, setting out the basis of valuation, the scope of the Report in compliance with Red Book standards. This provides absolute clarity for all parties and ensures the final report meets the stated purpose.

03

Site Inspection

One of our RICS Registered Valuers carries out a thorough on-site inspection of the property. The inspection is systematic and detailed, assessing all factors that are material to value: condition, location, access, tenure, planning status, comparable evidence and any special factors relevant to the asset class.

04

Research and Analysis

We undertake comprehensive market research, analysing comparable transactions, current market conditions, planning data and any other factors material to value. Long & Co.'s depth of local and regional market knowledge is a significant advantage at this stage; we’re not relying on data alone, but on an understanding of market sentiment and dynamics that only comes with sustained presence in a market.

05

Preparation of the Formal Valuation Report

The valuation report is prepared in full accordance with RICS Valuation Global Standards (the Red Book). It includes the basis of value, the inspection date, methodology, market evidence relied upon, assumptions and special assumptions (where applicable) and the valuer's signed declaration of independence and compliance. The report is suitable for the stated purpose, whether that’s submission to a court, Revenue, a credit committee or an auditor.

06

Delivery and Ongoing Support

The completed report is delivered to the instructing party within the agreed timeframe. Ronán and Thomas remain available to answer queries, provide supplementary information where required or attend professionally at court or before other bodies where expert evidence is needed.

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