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RICS
RICS Appraisal and Valuation Manual
K. Cooper
Latest developments in New Zealand public sector asset valuation
W. Britton, O. Connellan
Depreciated Replacement Cost
Stellan Lundström, H. Lind (1996)
Valuation of public real estate: context and conceptJournal of Property Valuation and Investment, 14
O. Connellan, Richard Baldwin (1993)
The Cost Approach to ValuationJournal of Property Valuation and Investment, 11
R. Marchitelli
Rethinking the cost approach
CIPFA
Guide to Valuation
Lim Yuan (1990)
Public sector valuations, 8
G. Arvidsson
Performance evaluation
J.D. Hatcher
Valuations for balance sheet purposes: property
B. Wheeler
The case for commercialisation of local authority property
M. Douglas
City utilities: public good versus sustainable value
F. Dent, S. Bond (1994)
The valuation of public sector assets: identifying the appropriate methodology
G. Hicks
Overvaluation of specialist buildings
W. Notton
Public sector property assets
D. Heald, D. Scott (1996)
ASSESSING CAPITAL CHARGING IN THE NATIONAL HEALTH SERVICEFinancial Accountability and Management, 12
B. Rutherford (1990)
Towards a conceptual framework for public sector financial reportingPublic Money & Management, 10
CIPFA
Capital Accounting by Local Authorities
S. Sayce, C. Connellan
Hybrid leisure properties: new valuation perspectives
G. Horsley
Valuing infrastructural assets in the public sector
G. Kerr (1987)
Introduction to non-market valuation. Theory and methods.
R. Chung, K. Simpkins
Wellington’s government valuations
G. Horsley
Asset valuations and site assessment: knowing where you stand
D. Heald, D. Scott (1996)
The valuation of NHS hospitals under capital chargingJournal of Property Research, 13
P. Young (1994)
Market Valuation with No Market – Valuing Properties with Little EvidenceJournal of Property Valuation and Investment, 12
G. Norman (1990)
Life cycle costingProperty Management, 8
G.R. Papke, R.J. Roddewig
Value in use vs market value: special problems in the valuation of special use properties
R. Flanagan (1989)
Life Cycle Costing Theory and Practice
O. Connellan (1997)
Valuation of specialized public sector assetsProperty Management, 15
A. Pegler
How do you value special assets?
P. Dent, S. Bond (1993)
Public property holdings: evaluating the assetProperty Management, 11
P. Dent (1997)
Managing public sector property assets: the valuation issuesProperty Management, 15
A. Thomson
City utilities valuations
S. Bond
‘Public good’ assets ‐ identifying the appropriate valuation methodology
I. Reid
Performance of property
B. Dillon
Keeping tabs on council property assets
M. Rayner
Valuation of property assets for which no market exists
J. Stewart, K. Walsh (1994)
Performance measurement: When performance can never be finally definedPublic Money & Management, 14
CIPFA
Capital Accounting in Local Authorities ‐ The Way Forward
R. Elton, NZ Rail Ltd
Focusing your asset management
S. Sayce, C. Connellan
How do we value our leisure?
A. Ring (1970)
The valuation of real estate
B. Kellett
Fixed asset valuations for local authorities
D. McKenzie
Local authority property management: social responsibilities versus financial profit
Research undertaken by the authors over the last two years has revealed a number of problems in valuing non‐market, non‐investment properties in the public sector. The first part of the article draws together some of the literature in the area of public sector asset valuation and management. This is intended, first, to highlight current thinking about the issues involved in the valuation exercise, second, to focus on some of the unresolved aspects and, finally, to suggest areas for further consideration to help resolve these.The second part of the article provides an introduction to, and critical examination of, the valuation methodology commonly used to value specialised property assets. Possible alternative approaches are suggested, which may better enable authorities to assess the performance of their assets and integrate these into the management processes.
Journal of Property Valuation and Investment – Emerald Publishing
Published: Oct 1, 1998
Keywords: Assets; Property; Valuation; Value
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