Commercial property valuation: Methods and case studies (Record no. 22184)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 06047 a2200253 4500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | OSt |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20240609120926.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240609b |||||||| |||| 00| 0 eng d |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER | |
| International Standard Book Number | 978-1119512127 |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER | |
| Classification number | 333.33 |
| Item number | MOR |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Morri, Giacomo |
| 245 ## - TITLE STATEMENT | |
| Title | Commercial property valuation: Methods and case studies |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Place of publication, distribution, etc. | Chichester, West Sussex, United Kingdom, |
| Name of publisher, distributor, etc. | John Wiley & Sons, Ltd: |
| Date of publication, distribution, etc. | 2019. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | xxii, 215 p. |
| Other physical details | glo., bib., ind. |
| Dimensions | 24 cm x 16 cm |
| 490 ## - SERIES STATEMENT | |
| Series statement | Wiley finance series |
| 500 ## - GENERAL NOTE | |
| General note | Recommended By: Banikanta Mishra<br/>-------------------------------------------------- |
| 521 ## - TARGET AUDIENCE NOTE | |
| Target audience note | Table of Contents<br/>About the Authors xi<br/><br/>Foreword by Andrew Baum xiii<br/><br/>Foreword by Vincent Vinit xv<br/><br/>Preface xvii<br/><br/>Chapter 1 Introduction to Property Valuation 1<br/><br/>Determining the Valuation Requirement 1<br/><br/>The Subject of the Valuation 1<br/><br/>Purpose of the Valuation 2<br/><br/>Value to Be Estimated 2<br/><br/>Valuation Date 2<br/><br/>Definitions of Value 3<br/><br/>Market Value 3<br/><br/>Investment Value 5<br/><br/>Valuation Associations, Codes and Standards 6<br/><br/>Notes 7<br/><br/>Chapter 2 Economic Characteristics and Elements of Risks of Properties 9<br/><br/>Characteristics of Property Investments 10<br/><br/>Building and Land 10<br/><br/>Use of Space and Investment Asset 13<br/><br/>Owners and Users 13<br/><br/>Business Perspective 14<br/><br/>Location 15<br/><br/>Categories of Property Investments 16<br/><br/>Development Projects 16<br/><br/>Income-Producing Properties 17<br/><br/>Trading Operations 17<br/><br/>Skills in Asset and Investment Management 18<br/><br/>Economic Classification of Properties 19<br/><br/>Property Classification Criteria 19<br/><br/>Macro Categories of Properties 24<br/><br/>A Simple Definition of Risk 28<br/><br/>Common Risk Elements in Real Estate Investment 29<br/><br/>Capital Market 29<br/><br/>Liquidity 30<br/><br/>Financial Structure 30<br/><br/>Regulatory 31<br/><br/>Location 31<br/><br/>Intended Use and Type of Properties 32<br/><br/>Development Projects 33<br/><br/>Authorisation 33<br/><br/>Environmental 33<br/><br/>Construction-Related 34<br/><br/>Market 34<br/><br/>Income-Producing Properties 35<br/><br/>Physical and Technical Features 35<br/><br/>Management and Market 36<br/><br/>Rental and Contractual Situation 36<br/><br/>Notes 37<br/><br/>Chapter 3 Market Analysis 41<br/><br/>Economic Analysis 41<br/><br/>Analysis of the Property Market 41<br/><br/>Comparative Data and Valuation Method 43<br/><br/>Characteristics of the Comparative Factors and Information Sources 43<br/><br/>Notes 45<br/><br/>Chapter 4 A New Simple Classification of Valuation Methods 47<br/><br/>Choice of Valuation Method 49<br/><br/>Depreciated Cost Approach Methods 53<br/><br/>Introduction 53<br/><br/>Description 53<br/><br/>Use, Advantages, and Limitations of the Depreciated Cost Approach 56<br/><br/>Notes 56<br/><br/>Chapter 5 Sales Comparison Approach Methods 59<br/><br/>Approach and Application Criteria 59<br/><br/>Direct Comparison Approach 60<br/><br/>Hedonic Pricing Model 63<br/><br/>Notes 65<br/><br/>Chapter 6 Income Capitalisation Comparison Approach Methods 67<br/><br/>Approach and Application Criteria 67<br/><br/>Direct Capitalisation Approach 69<br/><br/>The Direct Capitalisation Approach Calculation Algorithm 70<br/><br/>Profit and Loss Account of an Income-Producing Property 71<br/><br/>Use, Advantages, and Limitations of the Direct Capitalisation Approach 78<br/><br/>Application of the Direct Capitalisation Approach 78<br/><br/>Discounted Cash Flow Approach 81<br/><br/>Choosing the Time Horizon 82<br/><br/>Estimating the Cash Flows 83<br/><br/>Estimating the Terminal Value 83<br/><br/>Discounting the Cash Flows and Calculating the Asset Value 85<br/><br/>Use, Advantages, and Limitations of the Discounted Cash Flow Approach 88<br/><br/>Residual Value Methods 90<br/><br/>Introduction 90<br/><br/>Single Period Residual Value Approach 90<br/><br/>Multiple Periods Residual Value Approach 91<br/><br/>Notes 94<br/><br/>Chapter 7 Property Return Rates 97<br/><br/>Measuring the Return on a Property Investment 97<br/><br/>Rates and Capital Market 101<br/><br/>Cap Rate 103<br/><br/>Definition and Description of the Cap Rate 103<br/><br/>Going-In and Going-Out Cap Rate 104<br/><br/>Discount Rate 107<br/><br/>Definition and Description of the Discount Rate 107<br/><br/>Consistency Between Discount Rate and Cash Flow 108<br/><br/>The Components of the Discount Rate 110<br/><br/>How to Estimate Property Return Rates 113<br/><br/>Market Extraction 114<br/><br/>Determining the Discount Rate from the Cap Rate 117<br/><br/>Build-Up Approach 119<br/><br/>Analysing the Opinions of Market Players on the Return Expected 122<br/><br/>Notes 122<br/><br/>Chapter 8 Structure of the Valuation Report 127<br/><br/>Executive Summary 128<br/><br/>Preamble 128<br/><br/>Description of the Property 128<br/><br/>Market Analysis 133<br/><br/>Valuation 134<br/><br/>Conclusions 134<br/><br/>Appendices 135<br/><br/>Notes 135<br/><br/>Chapter 9 Office Property Appraisal 137<br/><br/>Description of the Property 137<br/><br/>Choice of Valuation Method 139<br/><br/>Market Analysis 139<br/><br/>Valuation 140<br/><br/><br/>Choosing the Time Horizon 140<br/><br/>Estimating the Cash Flows 141<br/><br/>Determining the Terminal Value 145<br/><br/>Determining the Discount Rate 146<br/><br/>Calculating the Market Value of the Property 147<br/><br/>Notes 151<br/><br/>Chapter 10 High Street Retail Unit Appraisal 153<br/><br/>Description of the Property 153<br/><br/>Choice of Valuation Method 154<br/><br/>Market Analysis 157<br/><br/>Estimating the ERV 157<br/><br/>Estimating the Cap Rate 160<br/><br/>Estimating Vacancy and Leasing Time 161<br/><br/>Estimating Refurbishment Costs 161<br/><br/>Valuation 161<br/><br/>Notes 163<br/><br/>Chapter 11 Hotel Appraisal 165<br/><br/>Description of the Property 165<br/><br/>Choice of Valuation Method 167<br/><br/>Market Analysis 168<br/><br/>Macroeconomic Climate 168<br/><br/>Supply and Demand Analysis 169<br/><br/>Forecast of Average Rate and Occupancy 173<br/><br/>Projection of Income and Expenses 178<br/><br/>Valuation 185<br/><br/>Notes 187<br/><br/>Chapter 12 Development Project Appraisal 189<br/><br/>Description of the Property 189<br/><br/>Choice of Valuation Method 190<br/><br/>Market Analysis 191<br/><br/>Valuation of the Development Project 192<br/><br/>Choosing the Time Horizon 192<br/><br/>Estimating the Cash Flows 194<br/><br/>Determining the Discount Rate 195<br/><br/>Calculating the Market Value of the Development Project 197<br/><br/>Notes 197<br/><br/>Glossary 199<br/><br/>Bibliography 205<br/><br/>Index 209 |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| General subdivision | Business & Economics Corporate Finance |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| General subdivision | Valuation |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| General subdivision | Commercial real estate Valuation |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| General subdivision | Commercial property valuation |
| 700 ## - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Benedetto, Paolo |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Koha item type | Books |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Home library | Current library | Date acquired | Source of acquisition | Cost, normal purchase price | Inventory number | Total Checkouts | Full call number | Barcode | Date last seen | Cost, replacement price | Price effective from | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dewey Decimal Classification | KEIC | KEIC | 05/09/2024 | Technical Bureau India Pvt. Ltd. | 5468.40 | TB399 | 333.33 MOR | 22953 | 06/12/2024 | 9431.00 | 05/09/2024 | Books |