TY  - JOUR
AB  - A preceding paper by Baum examined the valuation of reversionary freehold interests, distinguishing between conventional and modern approaches. This paper applies the same approach to the valuation of leaseholds, and falls into two parts. Part 1 examines conventional leasehold valuations and the criticisms that may be made, concluding that both dual rate and single rate conventional valuations should be abandoned except in limited circumstances. Part 2 identifies three alternative modern approaches — real value, rational model and DCF — and compares their use in three general variations of leasehold valuation. The results are compared, and recommendations for their use are made. Finally an overview of the application of modern approaches to investment property valuation is presented.
VL  - 3
IS  - 2
SN  - 0263-7480
DO  - 10.1108/eb007972
UR  - https://doi.org/10.1108/eb007972
AU  - BAUM ANDREW
AU  - SHI MING YU
PY  - 1985
Y1  - 1985/01/01
TI  - THE VALUATION OF LEASEHOLDS: A REVIEW: PART I
T2  - Journal of Valuation
PB  - MCB UP Ltd
SP  - 157
EP  - 166
Y2  - 2024/04/26
ER  -