ABSTRACT

Property ownership is an important investment medium that has shown substantial income and capital increases over the years. But, unlike stocks and shares, not all property is held for investment purposes. Some is held primarily for the operational purposes of a company, when any increase in value will be incidental. Where such property is retained by the company, its value is restricted by its use for the current purpose. This situation is touched on in later chapters, particularly those describing the contractor’s approach to valuation.