During this lecture the following will be examined:
- The difference between a development appraisal, residual valuation, feasibility study, viability study and a comparable valuation.
- The difference between land speculation and property development
- Risk management and the necessity for profit.
- The various purposes for which such studies are undertaken for whom and by whom.
- What is considered to be good practice? What guidance is available?
- What data you require before you start such an exercise and who should provide it?
- The volatility and interpretation of the results.
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