Valuations

NEPI Rockcastle fair values its portfolio semi-annually. Fair value is determined by external, independent professional valuers, with appropriate and recognised qualifications and recent experience in the location and category of property being assessed.

Valuations are based principally on discounted cash flow projections based on reliable estimates of future cash flows, using discount rates that reflect current market assessments of the uncertainty in the amount and timing of the cash flows. These are supported by the terms of any existing lease and other contracts and by external evidence such as current market rents for similar properties in the same location and condition.

The valuations as at 31 December 2019 were performed by Cushman&Wakefield, Cushman&Wakefield Affiliate Partners, Colliers International and Jones Lang LaSalle (JLL).

Valuers

Qualifications/memberships of valuers:

Royal Institution of Chartered Surveyors (RICS)

Valuation Methods

Investment property in use

  • Discounted cash flow (DCF)

Investment property under development

  • Market comparable approach
  • Residual approach