Our journey to matheson valuation
John’s journey to being the Principal and Founder of matheson valuation has been a varied one, both geographically, and through the differing sectors of the Real Estate Markets.
His Passion for Real Estate came while studying at the London School of Economics, where he was drawn to the tangible and real-world nature of the built environment, and its interaction & connectivity to his studies in economics, finance & management accounting.
John’s career has been one of diversity; working in both the Public & Private Sectors, within the UK & Europe, before crossing the Atlantic, to The Caribbean & The Americas.
He has been a Trusted Adviser, a Counsellor of Real Estate, an Informed Client & Expert Advisor.
John has continuously relied upon the RICS Standards and Guidance as his guiding principles, the Professional Framework that he has worked within, and the Ethics & Values he’s Held & Followed.
Living in Barbados has allowed John to experience an exceptional Work-Life Balance, with his free-time taken up with chasing after his son on a surfboard in the ocean, or helping to Clean Up the Island’s beautiful beaches with Dare-to-Care Beach Cleans Barbados.
John Qualified as a Member of the Royal Institution of Chartered Surveyors (MRICS), as a Chartered Valuation Surveyor, in the summer of 2006.
He moved from his Graduate Role with the UK Government’s Valuation Office Agency, and joined the Investment Valuation Department of King Sturge a Pan-European Multi-Disciplinary Real Estate Consultancy, (which later merged into Jones Lang Lasalle).
John assisted on the Quarterly Valuation of a Property Fund which held 360 Industrial Estates across the UK, and a Fund of 20 Retail Warehouse Parks, both valued, at the Peak of the Market, in excess of £1 billion each.
He also valued a wide range of Retail and Commercial Properties, both in the UK and in Germany, for Loan Security Purposes for Bank’s & Institutions, including for packaging into CMBS and Sale & Leaseback transactions, during the heady years of 2006 - 2008.
After the Market Crash of 2007 - 2008, John joined Ernst & Young, as an internal Real Estate Valuation Expert, providing Qualified Reviews of Property Valuation Reports that were submitted by Property Funds and Real Estate Companies & Developers to the EY Auditors.
He confirmed compliance with RICS Standards, and whether the reported Market Values were Reasonable and inline with Market Evidence & Benchmarks. These were for some of the largest real estate holdings in the UK, including shopping centres, retail parks, City of London offices & skyscrapers like The Shard, 5* hotels and high-security data centres.
Join gained a fuller appreciation of the International Valuation Standards (IVS), and how these relate & are interoperable with the International Financial Reporting Standards (IFRS).
John went from EY Real Estate Audit , to joining the Valuation and Business Modelling (V&BM) team; home to EY’s Industry Leading Expertise in Asset & Business Valuation.
The newly formed Real Estate Valuation team undertook Accounts Valuations of Property Assets, when completing Purchase Price Allocation Valuations for EY’s Global Clients, post Merger or Acquisition.
Often as part of multinational cross-border transactions, undertaking due-diligence & transaction-management on real estate assets on a company’s balance sheet.
Often requiring coordination across EY’s global network. Assignments included :
Ferro-Chromium Mine in South Africa,
UK Nationwide House Builder,
A Major Oil Co.’s Petrol Filling Station Network across Morocco,
Chain of Boutique Hotels in Europe and Central America for Purchase by a Sovereign Wealth Fund,
Portfolio of Owner Occupied and Leased Data-Centres,
Golf Course Resort on the West Coast of Ireland.
The V&BM team also supported EY Restructuring, who were working through the Distressed Financial Structures and ‘Bad Banks’ that had resulted from the Great Recession, both in the UK and the Republic of Ireland.
In 2013 John had started discussing with EY a relocation to the Americas, when he saw a Job-Posting for a Real Estate Valuation Manager with CIBC FirstCaribbean on RICS-Recruit.
The job-role ideally suited the valuation expertise & review experience that John held, and within 6 months of applying for the role, he was on his way with his family to start a new life in the Caribbean, on the island of Barbados.
John was part of the Bank’s team tasked with reforming the Bank’s Property Valuation Report Ordering and Review Processes, by Restructuring their Approach to Engagement with their Valuers & Fund Monitors. This included the Selection and Management of the Bank’s List of Approved Valuers across the English and Dutch Caribbean.
Using the RICS Valuation Standards as the Conceptual Framework for the Bank’s Policies for Real Estate Loan Security Valuation, and aligning the Instruction, Management and Review of the Valuation Reports with the RICS Standards.
The Bank was able to Significantly Reduce their Exposure to the Inherent Risks of holding Real Estate Assets as Loan Security, across the Caribbean Region. This Shift in the Paradigm of how the Bank was Instructing & Engaging with their 3rd-Party Valuers was Integral to Maintaining and Improving the Foundational Quality of the Security Values which Underpinned the Bank’s Loan Portfolio.
By instigating an Internal Review Requirement for Property Valuation Reports, using the RICS Standards as a Framework the Bank was able to Successfully Manage & Mitigate Effectively the Risks associated with instructing locally based Valuers from across the Region.
After 7 enjoyable & rewarding years with FirstCaribbean, John’s time spent Reviewing & Critiquing others’ appraisal work had come to a close.
John took the decision to step out from the Bank, and start to Make Real Changes in how Real Estate is being Assessed, Valued and Transacted in the Caribbean.
We see matheson valuation as our vehicle to start giving back to the Caribbean Region, and it’s Real Estate Industry, which has taught and given us so much. A way of sharing the Knowledge and Expertise we’ve been gathering, passing this on to the next generation of qualifying Valuers. We want to share our knowledge and provide our guidance to our Client’s, to the Caribbean public and Business Community.
matheson valuation Aim is to be the Caribbean’s main source of Expert Knowledge Sharing, of Property Advice & Guidance, as a Centre for Education in Real Estate Valuation & Transaction Advisory, and for Excellence in Service Delivery.