The Valuation of Shares in an Unquoted Property Company– Part 1

Considers the difference between owning a share in a property asset and owning shares in a property company itself. Assesses various categories of activities, asset types, legal interests and the quality of the underlying property portfolio. Considers the information which might be available about the shares to be valued. Concludes that owing to the diverse nature of accounting policies in use by property companies, reported profits cannot be used as a consistent measure of performance, but that the accounts as a whole, combined with surveyors′valuations, is a good starting point.