Social valuations for publicly owned properties (Record no. 104927)

MARC details
000 -LEADER
fixed length control field 03103cam a2200193 4500
001 - CONTROL NUMBER
control field ##L131958
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 051219n1999 000 0 eng u
035 ## - SYSTEM CONTROL NUMBER
System control number (Sirsi) u131958
041 0# - LANGUAGE CODE
Language code of text/sound track or separate title eng
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Connellan, Owen
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Lichfield, Nathaniel
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Sayce, Sarah
245 00 - TITLE STATEMENT
Title Social valuations for publicly owned properties
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Place of publication, distribution, etc. London
Name of publisher, distributor, etc. RICS
-- 1999
520 ## - SUMMARY, ETC.
Summary, etc. Previous research into public sector leisure properties revealed that extant valuations methods (e.g. DRC and trading-related valuations) for Capital Accounting purposes produced unhelpful results where those assets were owned and operated for social purposes (i.e. as valuable asset for the community) as opposed to investment to the owner. Such previous research introduced the notion of 'true cost commitment' (TCC), being a capitalised negative cashflow, as a measure of accepted cost for the provision of a required service, which when combined with the opportunity cost of a public sector asset (OMV). It is arguable that this identifies the lower bracket of social value . Lack of specific guidance for valuers on this topic has hampered progress within the profession. This leads to our search for a social value methodology from the field of Social Cost Benefit Analysis (SCBA). This essentially measures both direct and indirect gains and losses to the impacted individuals and aggregates them as an expression of net economic value. But whereas SCBA is usually identified as an analysis tool at the investment decision-making stage of a project, our research interest centres on the valuation problems concerned with properties and undertakings that are already built with operating services in place. This research thus looks for a process of adapting SCBA techniques from such initial appraisals to measure of underlying worth that could be applied to the run of public sector properties that are not market or profit-orientated but whose current operations are geared to the provision of services which are socially, rather than economically, justifiable. The methodology employed in the research will concentrate on the development of pilot methodologies which will then be tested by way of focused discussions with end users of valuations and their advisers to ascertain both their applicability and practicability. It is intended to consult, inter alia, the Operational Worth group within the RICS. The paper will report on our findings on appraisal examples illustrating those adaptive techniques and our recommendations for future consideration of the profession. It is argued that the research is timely given the current debate on the nature of operational worth and the ambition of government to reconsider economic goals beyond the standard definitions of Gross Domestic Product, thus indicating a new concern to move beyond market measures of value. The Cutting Edge 1999 is being held on 6-7 September and full papers will be available shortly thereafter
520 ## - SUMMARY, ETC.
Summary, etc. This item is no longer available.
690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN)
Topical term or geographic name as entry element PROPERTY-PROPERTY VALUATION AND APPRAISAL
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Suppress in OPAC 0
Holdings
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    Dewey Decimal Classification     Virtual Virtual Online 19/12/2005   131958-2001 06/08/2019 1 06/08/2019 Book