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Click here for information about the book:

Concepts of Value in Property











Now available:
Concepts of Value in Property (A5) and
Strategic Definition Workbook (A4)
They Huffed and They Puffed (Pocket)



They Huffed and They Puffed

Buy They Huffed and They Puffed book on Lulu.

Buy this book on Lulu.

Available in Paperback
and ePub & Kindle ebooks  



Strategic Definition

Buy Strategic Definition book on Lulu.

Buy this book on Lulu.
Available in A4 Paperback
and ePub & Kindle ebooks  



Concepts of Value in Property

Buy Concepts of Value in Property book on Lulu.

Buy this book on Lulu.
Available in A5 Paperback
and ePub & Kindle ebooks  


Pocketbook - They Huffed and They Puffed

The fable of the three little pigs is retold here.
Understand why they made their building choices!


"Made me chuckle though the subject is spot on and very serious - the #Value [of the] built environment."

Prof. Flora Samuel, RIBA Vice President for Research [>>]


The narrative in this book is set around the three little pigs, each embodying one interpretation of value. They each have particular understanding, circumstance and logic to their decision making and actions.

These interpretations of value draw from sources including: architecture (RIBA), surveying (RICS) and business literature, as well as personal observations.

By setting this out as a story, the subject of value becomes compelling and accessible. The fable gives a context that is familiar, yet also has a property element.

Listen to Yanna Anderson interviewing Thomas about this book:

  [Available with the kind permission of Anthea Page]


Paperback 978-0-244-40617-2 £4.90   Size: Pocket   76 pages
Epub ebook Available here £1.99
Kindle ebook Available here £1.99

 

Workbook - Strategic Definition

This workbook will enable Property Asset Managers and Architects to formulate a property strategy.

For Property Asset Managers, their business context is considered together with user and stakeholder needs. This helps clarify the objectives and end goals required of a building.

For Architects, it compliments the Stage 0 - Strategic Definition of the RIBA Plan of Work (2013). The Strategic Brief and the Business Case are developed, providing a context for the Preparation and Brief and subsequent stages. It enables the commercial understanding of their clients’ needs, by way of asking the right questions.

Read more...

Book - Concepts of Value in Property

There are all sorts of values people recognise in buildings: financial, social, cultural, environment etc. Each of these has different forms, with each representing a different concept of value. Put a few of these values together and it becomes a value typology: the set of values you consider important.

Every other person, business, academic and profession has a set of values too. Furthermore, a building embodies a value typology in its form and use.

...yet, there is no consensus of what the value types are, should be, or which are important.

Read more...

Chapter contents




Click on the titles below for more information:

1 Values
2 Value typologies
3 Value methods
4 Two categories of Benefit-values
5 Understanding financial-values
6 Understanding non-financial values
7 Calculating with non-financial values
8 Communicate non-financial values
9 Supra-Value
Appendix
Read preview content link opens in new window







RIBA Plan of Work
Stage 0 - Strategic Definition


We are specialised to assist you with the RIBA Plan of Work Stage 0 - Strategic Definition, with over 20 years architectural, construction and valuation experience.

The RIBA Plan of Work Stage 0 reviews the business context for a development. We recognise your client's priorities of capital, revenue, operations and other financial and non-financial values.

Our Stage 0 report shows how the development meets the purpose within the business strategic plan.

An effective Stage 0 report improves decision making for design and construction. It gives your client confidence in the effectiveness and alignment of the supply chain. It prepares for the subsequent Stage 1 - Preparation and Brief.

See also:
Architecture competitions Architecture competitions

Architect Design Competitions


As part of your design competition entry, we will provide you with a value report. This compliments your design by expressing how it meets the business and strategic needs of the client.

We will consider the client's values in terms of financial, non-financial, business strategy, options and other values. Your design will have considered architectural and functional criteria, and with our value report it can be understood in terms of it meeting the client's business needs.

Judges consider both design and the feasibility of a submission. Your design, containing our value appriasal report, will demonstrate its feasibility.

See also: Appraisals for RIBA Stage 0 Appraisals for RIBA Stage 0


Development Valuation


A Development Valuation is the financial value of a development. As such, it forms part of a Development Appraisal.

A Development Valuation makes use of the residual valuation method to calculate the financial value of a site.

The method is also used to anticipate the expected profit from the development of a piece of land, if the price is already known.

We provide you with a Development Valuation that is also a working document. The programme timescale considers cashflow and capital step costs.

See also:
Corporate Property Strategy Corporate Property Strategy
Development Appraisal Development Appraisal
Valuation or Appraisal? Valuation or Appraisal?

Valuation or Appraisal?


A property valuation is done for reasons including tax, insurance, disputes, exchange. It sets a financial value at a set date e.g. a sale price today.

Our appraisals consider future value. As the future is unknown, it incorporates expected outcomes, options and risk. Choices are made to optimise for uncertainty.

An appraisal is a strategic tool, as it considers a personal point of view with relevant concepts of value. For example, it gives the future value-in-use for your business, justifying a development.

Our appraisals provide you with alternatives. You can justify choices between build/ refurbish, sites, timescales, cashflows and more.

Our RICS valuations are done with JS Reakes Ltdlink opens in new window

See also:
Corporate Property Strategy Corporate Property Strategy
Development Appraisal Development Appraisal
Development Valuation Development Valuation

Corporate Property Strategy


A Corporate Property Strategy (CPS) is a management document that outlines the strategic role of property assets within your business.

The CPS we facilitate communicates values, the ongoing operations, and facilities management processes appropriate to your business.

A CPS outlines how change is managed. If a new development is to be considered, a Development Appraisal will be required to review value, feasibility, viability and its appropriateness.

In short, we provide a property business plan.

See also:
Development Appraisal Development Appraisal
Development Valuation Development Valuation
Valuation or Appraisal? Valuation or Appraisal?

Development Appraisal


A Development Appraisal reviews the strategic justification of a property development, as outlined in the CPS.

We recognise your priorities of capital, revenue, financing, operations and other financial or non-financial values.

A feasibility study considers the appropriateness, timescale and supply chain alignment for the development. Future options are compared, e.g. opportunity costs, whole-life costs, risk, uncertainty and contingency scenarios.

A Development Appraisal includes a Development Valuation to review financial viability.

Development Appraisals become management documents for the project, with KPIs and protocols.

See also:
Corporate Property Strategy Corporate Property Strategy
Development Valuation Development Valuation
Valuation or Appraisal? Valuation or Appraisal?


Chapter contents

1  
Values  

What are values and what does the word values mean? This chapter defines and then separates the meanings into: Belief-values and Benefit-values. Belief-values are psychological motivations, whereas Benefit-values are tangible benefits. The Benefit-values are considered further in this book for property appraisals.



Click on the chapter titles to find out about the content...

Property Appraisal Consultancy


Property Appraisal Consultancy

Buy or build...?
Develop or sell...?
Build big or small...?
Develop now or later...?
Leasehold or freehold...?
What are the options...?

An appraisal answers these questions.

An appraisal considers the value of property from your perspective and your values. Going beyond a generic valuation, an appraisal considers you, your customer, your building use and other key stakeholders.

We offer an appraisal service to review and communicate your values so that you can make the most of your property assets...

Our appraisals consider:
• The strategic role of your property assets.
• Decision making analysis.
• The value of your property to you.
• Adding value to property.
• Meeting future uncertainty, risk, changes and options.
• Ownership and occupation timespans.
• Financial and non-financial values.
• Development process management.
• Residual values for land development.
• RIBAlink opens in new window Plan of Work Stage 0 - Strategic Definition.
• RICSlink opens in new window valuation of Worth.

Appraisals for architects:
• Architect Design competitions (more...) (more...)
• RIBA Plan of Work Stage 0 (more...) (more...)
Architect questionnaire

Appraisals for business:
• Corporate Property Strategy (more...) (more...)
• Development Appraisal (more...) (more...)
• Development Valuation (more...) (more...)
• Valuation or Appraisal? (more...) (more...)
Business questionnaire

If you have questions or would like further information, please contact us, and we can get back to you.







Property Development Appraisal Books

Thomas Rasche graduated in Architecture RIBA parts I&II from the University of Liverpool in 1994; in 2016 he graduated with a Master of Science in Real Estate Finance and Investment at The University of the West of England. He has worked on a variety of buildings types and scales, including large public buildings, commercial properties and private dwellings. He has worked internationally in the UK, Germany and Ireland. Thomas lives in Bristol.

Thomas is currently a Non-Executive Director at Coexist CIC, and an Associate Lecturer at the University of the West of England.

"I think Thomas has shown incredible skills and knowledge... I also think he is sensitive, a good listener, and - beyond the property and finance knowledge - he has shown a real affection for our core purpose and making sure we are seeking to 'live into our' mission and deliver social value in a connected way."
Board member of Coexist CIC



Articles

14 Nov 2017 From Business Plans to Architecture link opens in new window   PDF version

14 Aug 2017 Architectural Value Is Not 'Hope Value' link opens in new window   PDF version

03 May 2017 Turning Tides of Interest link opens in new window   PDF version

14 Apr 2017 Time is not Money link opens in new window   PDF version

06 Jan 2017 value ≠ value link opens in new window   PDF version

05 Jul 2016 Valuation After Brexit Uncertainty link opens in new window   PDF version