Collect sales data for each nominated Describe the method used to analyse for: property type: vacant land research sales of comparable improved properties. properties Include detailed sales analysis spreadsheet for each analyse sales for each nominated nominated property type. Each sale to be analysed property type. down to all components of value applicable to the Collect lease data for each nominated nominated property type. property type: Display and describe the method used to analyse research lease of comparable leases. properties Include rental analysis spreadsheets showing a analysis analyse leases to determine rental breakdown of rental evidence into components of levels to be adopted. value applicable to the nominated property type. asset Collect asset and financial information Each rent to be analysed down to all components of and for each nominated property type: applicable. research and analyse industry For all items applicable to a Depreciated Replacement lease replacement costs, economic life, Cost (DRC) approach, provide an analysis that includes obsolescence allowances and benchmark replacement costs, economic life and Sales, financial viability of the industry. obsolescence allowance. Analyse asset registers, financial commentary on the viability of the industry. statements and other relevant reports obtained for relevant nominated property. Identify items of plant and equipment infrastructure to be included in the valuation. Prepare valuations for each Provide: nominated property. an overview of the valuation methodology adopted Attend VGV convened valuation for each of the nominated properties conferences. individual spreadsheets showing valuation calculations. Complete exception reporting as set out in Appendix E. The template issued in accordance with the Specialist Property Guidelines should be used. valuations All adopted assumptions and levels must be supported and substantiated with market evidence. Provide the valuation data including, where Preliminary applicable, separate land and buildings and plant and equipment components and market evidence for each property. Provide exception reports as set out in Appendix E. 2.4 3B commercial and industrial properties
Sales, lease and asset analysis Collect sales data for each nominated property type: research sales of comparable properties analyse sales for each nominated property type. Collect lease data for each nominated property type: research lease of comparable properties analyse leases to determine rental levels to be adopted. Collect asset and financial information for each nominated property type: research and analyse industry replacement costs, economic life, obsolescence allowances and financial viability of the industry. Analyse asset registers, financial statements and other relevant reports obtained for relevant nominated property. Identify items of plant and equipment infrastructure to be included in the valuation. Describe the method used to analyse for: vacant land improved properties. Include detailed sales analysis spreadsheet for each nominated property type. Each sale to be analysed down to all components of value applicable to the nominated property type. Display and describe the method used to analyse leases. Include rental analysis spreadsheets showing a breakdown of rental evidence into components of value applicable to the nominated property type. Each rent to be analysed down to all components of applicable. For all items applicable to a Depreciated Replacement Cost (DRC) approach, provide an analysis that includes benchmark replacement costs, economic life and obsolescence allowance. commentary on the viability of the industry. Preliminary valuations Prepare valuations for each nominated property. Attend VGV convened valuation conferences. Complete exception reporting as set out in Appendix E. Provide: an overview of the valuation methodology adopted for each of the nominated properties individual spreadsheets showing valuation calculations. The template issued in accordance with the Specialist Property Guidelines should be used. All adopted assumptions and levels must be supported and substantiated with market evidence. Provide the valuation data including, where applicable, separate land and buildings and plant and equipment components and market evidence for each property. Provide exception reports as set out in Appendix E. 2.4 3B commercial and industrial properties
2018-Valuation-Best-Practice-Specifications-Guidelines.docx