PV Assignment 2:
This is an individual critical essay. The maximum word count is 3,000 words.
You are to prepare a valuation for your client, Bridgeford Street Enterprises Ltd. The valuation has been requested because they wish you to establish the Market Value of a property they propose to purchase as an investment.
The property is to be the same building （3 Hardman Street, Spinningfields, Manchester M3 3HF ）that was the subject of Assignment 1 but this time you will be valuing the whole building and not just a single office suite.
You can assume that the property is available with vacant possession (empty and ready for occupation) once the transaction is complete and so there is no need to take account of existing tenancies or occupiers. However, you will need to undertake an Investment Method valuation reflecting current Market Rents and All Risks Yields.
Required elements of the valuation essay:
1. Critically examine the current state of the office investment market in Manchester City Centre and the implications for you’re the subject property and your valuation (c. 1000 words).
2. Critically analyze the factors affecting the All Risks Yield and Market Rents for the subject property (c. 1000 words).
3. Discuss the uncertainty associated with your valuation (c. 750 words)
4. Calculate the investment value of the property, clearly showing your work (equivalent to 250 words).
Discipline: Real Estate Asset Management – Property Valuation