Amidst ongoing economic austerity, the UK government faces a significant challenge to fund major infrastructure projects. In many areas, market based solutions are not possible due to the scale of infrastructure required, at a time when land values are declining and occupier rents and yields...

At an international level governments are increasingly seeking to ensure greater involvement of the private sector in the financing and delivery of regeneration and sustainable communities. Regeneration is currently at the forefront of the UK Governmentís priorities (Urban White Paper, 2003:...

Risk and uncertainty are inherent parts of the valuation process as often the valuer is unable to specify and price accurately all current and future influences on the value of the asset. The UK valuation profession has been criticised for inconsistencies and failures to reflect risk and...

Guidance Note 1 of the Red Book (RICS, 2003) states that the valuation of an operational entity includes four components: the land and buildings; the trade fixtures and fittings; the trading potential, excluding personal goodwill; and the benefit of any transferable licenses and consents. While...

Public Private Partnerships have made a substantive contribution to the upgrade in infrastructure quality around the world enhancing resident quality of life and supporting economic development. The rollout of the PPP model has not met with universal approval however; indeed in some countries...

The period of study, from 2000 to 2010, was a decade of turbulence in the American residential real estate market. The time period witnessed a sharp increase in property prices from 2000 to 2006 followed by a sharp decline after the 2007 sub-prime crisis in most markets in the US. The objective...

Property performance indices have invariably focused upon prime markets with a variety of approaches used to measure investment returns. With urban policy driven by the sustainability agenda, increasing attention is being placed on the re-use of existing sites and brownfield land. However, there...

Flexibility is an inherent part of project developments, and the value associated with flexibility is an integral part of the total value of undeveloped sites. The standard decision rule states that the development should be undertaken when the residual value is positive and left undone if it is...

ERES:conference

A fundamental element of UK urban policy, as outlined in the Urban White Paper, is the redevelopment of inner city land (DETR, 2000). However the valuation of urban regeneration land, in connection with grant funding, is said to be one of the most vexed issues in the appraisal of projects...