... treats it in the same way as depreciation without recognising its unpredictable nature. The paper explores alternative approaches to how obsolescence might be measured. Richard Grover can be contacted at: rgrover@brookes.ac.uk © Emerald Group Publishing Limited 2015 Adaptive re-use...

... and then compares to market-based data. A discussion is undertaken on the validity of adopting discounted cash flow, as against the short cut market appraisal approach. Capitalization rates, cap rates have also been referred to as obtained from the academic and practitioners field and compared. Depreciation...

...Olusegun Ogunba Purpose The paper aims to address concerns that valuers' choice of depreciation models in their cost approach to value is not sustainable (is incapable of preserving patronage in present and future generations). Design/methodology/approach The paper draws up conceptual...

...Robin Goodchild; Andrew Baum; Steven Devaney Purpose The purpose of this paper is to consider prospects for UK REITs, which were introduced on 1 January 2007. It specifically focuses on the potential influence of depreciation and expenditure on income and distributions. Design/methodology...

...Anthony Andrew; Michael Pitt Purpose To examine the way the Government accounting and capital charging system allows for depreciation. Like the private sector, it is designed as an accounting measure of the consumption of assets. Unlike the private sector, it has no tax implications. Beyond...

...Owen Connellan When valuing “no market” properties using the cost approach, one of the fundamental problems is the reflection of “age‐related” depreciation in the appraisal process. The uncritical use of straight‐line depreciation produces illogical results and a new methodology “discounted assets...

..., or to reduce risk. Considers the question whether (and if so, how) quality in property development (excluding site factors) is likely to lead to high returns. Recently published work defines quality as resistance to depreciation, where depreciation is defined in purely financial (return) terms. Fully considers...

... the contractors test, as used in rating, and techniques for ascertaining depreciated replacement costs. Finally a practising valuer comments on the findings of the research. The Cost Approach to Valuation Received: 6th July, 1992 Owen Connellan and Richard Baldwin Keywords: Cost and value contractor's test...

...NORMAN HARKER The inflation and depreciation assumptions implied within a traditional valuation should be exposed for consideration in an appraisal of a depreciation‐prone investment. Modern warehouses are examples of this type of investment. The all‐risks yield implies judgements concerning a long...

..., out of town) depreciation THE EXPERT SERIES THE APPRAISAL OF SHOP INVESTMENTS Received: December 1986 RAMSAY MASON Key Words Investment appraisal valuation shops (high street, out of town) depreciation Summary Value is the price which several operations in the market may reasonably...

.... Nonetheless, the potential for error can be simply illustrated by comparing valuers' assessments of value of straightforward and complex office investments. The complexity of the second example illustrated in this paper derives from the impact of depreciation, and the recommended approach is presented...

... such as this will first be reflected in the subjective investment appraisal, which will precede changes in reactive market valuation methodology. This paper presents and compares three alternative methods of appraisal which might allow explicit analysis of building depreciation. Treating the building element of property...