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A 1-day course for those who process, commission or consume valuation reports and who want to understand everything in it. This course enables better informed decision making and more confident discussions with a valuer or colleague, or help with the production and sales of valuation systems.
1-day training course offering 6 hrs of CPD, led by senior practitioners. We explain measurement techniques, IVS standards, the valuation approaches, methods and techniques as well as the complex drivers of value – and all its jargon – in an approachable manner.
The course explains what valuation method is used in what situation, and why. We provide real-life examples to bring the valuations to life, and we work through the various valuation types, situations and property types. We finish with an outlook on how valuations are changing.
The course is taught by Cléo Folkes and Philip Walker, FRICS, a senior accredited valuer.
What you will learn:
Understand all valuation approaches, methods and techniques, …and what is used when & why, measurement standards, the drivers of value, how property segments differ, all essential jargon, including the various types of yield, how DCF is used for acquisitions, the strengths and weaknesses of IRRs & NPVs, and how property has changed and will continue to change
Details
Duration: 1 day, London
Price: £595+VAT standard price, discounted RE:Women members price £520+VAT
CPD Hours: 6
Level: beginner to intermediate
Maximum number of delegates: 10
Next Dates: Thu 27 February & Fri 15 May 9:30am-5:30pm
Content
Understanding Commercial Property Valuations
Understanding the drivers of commercial real estate value and property valuation outcomes.
Value Drivers (UK Property Market & Property Specific)
- Economics & Politics
- Investment market
- Letting market
Fundamentals
- Market values vs Worth
- Overview of Valuation Standards and Guidance Notes
- Measurement – What is gross and net internal area, for example
- What happens in a crisis
- What does a valuation report look like?
Valuation Approaches, Methods and Models used in Commercial Property – UK & Europe
This section will include a description of the 3 valuation approaches, the 5 methods and the various models. We explain property terminology in an approachable manner with words such as rack-rented, over or under-rented, reversion(ary), comparable evidence, VP value, Income Multiplier, Net Initial yield, term yield, equivalent yield and exit yield etc. explained
- The market approach and comparative method
- The income approach and investment, profit or residual method
- The cost approach and depreciated replacement method
Risks
- Valuation uncertainty
Value Drivers and Valuation Case Studies by Property Type (key focus: commercial)
This section will explain the sector-specific drivers and explain the valuation type used and the property-type specific issues that affect a valuation, some of which will surprise you. This section uses case studies. We will cover a range of sectors, and we will look at standing investments and developments.
Run-through of a valuation report
It should all fall into place: all the elements discussed before are now familiar to the attendee, and a valuation-report will be discussed to ensure all elements are fully understood. Attendees are encouraged to bring a valuation report they have worked with and which they would like to understand better but which they are happy share for discussion during the day.
The Future of Valuations
The training session will close with a view on how valuation methods and guidance is changing, and the impact of technology and globalisation on how valuations are likely to be performed in the next decade.