The Income Approach to Property Valuation

Andrew Baum is Chairman of Property Funds Research and Newcore Capital Management, and Visiting Professor of Management Practice at the Saïd Business School at the University of Oxford. He was formerly Professor of Land Management at the University of Reading where he is now Emeritus Professor, Honorary Professor of Real Estate Investment at the University of Cambridge and Fellow of St John’s College, Cambridge. David Mackmin is Emeritus Professor of Real Estate at Sheffield Hallam University. He was formerly Professor of Real Estate at Sheffield Hallam University, Visiting Professor of Valuation at the Technische Universität Wien and Course Director of undergraduate and postgraduate courses at the University of Reading. Nick Nunnington isVisiting Professor of Corporate Real Estate at Nottingham Trent University. He was formerly Principal Lecturer at Sheffield Hallam University, Sorouh Dean of Real Estate Management at the Higher Colleges of Technology in Abu Dhabi and subsequently an Associate Vice Provost for quality and curriculum development for professional courses across 17 colleges in the United Arab Emirates. He is now freelance with a variety of roles including teaching blended learning courses on the Master of Real Estate programme at the University of Adelaide, Australia.

Part 1: The Context 1. The Global Contextual Framework 2. Local Contextual Framework 3. Fundamental Financial Concepts 4. Fundamental Methodologies Part 2: Income Approach to Property Valuation in Practice 5. Basic Principles 6. Market Valuation 7. The Income Approach: Freeholds 8. The Income Approach: Leaseholds 9. Investment Appraisal 10. Development Appraisal 11. Profits Based Valuation 12. Residential Valuations Part 3: Income Approach to Property Valuation Past and Present 13. The Historical Development of the Income Approach to Property Valuation 14. Contemporary Issues Impacting upon the Income Approach to Property Valuation 15. Case Study Examples