Charity land sale boost for Propertymark members

Propertymark members in England and Wales with a fellowship grade qualification can now sell charity land after changes to the Charities Act legislation.

Previously only members of the Royal Chartered Institute of Surveyors (RICS) were able to conduct advice for charities wishing to sell land with charities needing a report from the RICS before entering into an agreement of sale.

REMOVED RESTRICTIONS

But the Charities (Dispositions of Land: Designated Advisers and Reports) Regulations 2023 have removed restrictions on who can sell land for charitable organisations and now allows NAEA Propertymark members at fellowship qualification grade to provide advisers’ reports.

The change follows recommendations from the Law Commission to expand the category of advisers to include the National Association of Estate Agents (NAEA Propertymark) and means that Propertymark agents have been able to provide reports and sell charity land from 14 June this year.

Timothy Douglas (main picture), Propertymark’s Head of Policy and Campaigns, says the change in legislation will provide charities with a greater choice in who can assist in the selling process.

GRADE SATUS

He adds: “This landmark change means that NAEA Propertymark members who hold fellow grade status can now undertake this valuable work, expand their services and support charities with a faster, more seamless selling process, while further cementing our industry’s indispensable role in the charitable sector.”

Chris Sharpe, Partner at law firm Stone King, says: “If a charity is disposing of land it must comply with the requirements of the Charities Act.

“The Regulations broaden who can be a ‘designated adviser’ for the purposes of section 119 and simplify the requirements for designated advisers’ reports.

“For charities, this gives greater options in selecting an adviser to provide the requisite advice in relation to a proposed disposal and may sometimes lead to a more cost-effective route to disposal.”