ABSTRACT
It combines a comparison or investment method with a costs approach. The basis of valuation is as follows:
In this chapter … • The method of valuation used to assess the value of development, redevelopment or
refurbishment properties. • How to calculate the value of the completed development and estimate the costs of the
required construction work and associated expenditure. • Why the residual value obtained should also be checked against available comparables or
other market evidence. • The simplified approach to this method of valuation and how more complex approaches
can and should be used. • Using probability, more sophisticated analytical techniques and computer software to
improve reliability and accuracy of development appraisal valuations.
