Asset Management

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Valuation of strata land

  • 1.  Valuation of strata land

    Posted 27 days ago

    Hi Everyone

    Has anyone had any experience with valuing strata and/or stratum land parcels? Or an approach/methodology they could share? We have a number of strata and stratum land parcels in our operational land register. These properties have a value to Council but unlike other operational land parcels, the land cannot be sold at Council's direction - there are other owners involved. The value should be realised on Council's books but be realistic and reflect the strata/stratum nature of the property. We are a bit stuck on what that value should be. Please note that the building and improvements to the property are listed as separate assets in the register and are valued separately to the land.
    Any help would be appreciated.

    Thanks,

    Megan



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    Megan Finnie
    Northern Beaches Council
    Manager Asset Strategy Planning & Performance
    DEE WHY
    Australia
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  • 2.  RE: Valuation of strata land

    Posted 26 days ago
    Megan

    Under the Land Valuation Act land can only be valued by a registered valuer. They are equipped to value strata titled land at market value.

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    David Edgerton. FCPA
    Director APV Valuers and Asset Management
    Director Asset Valuer Pro
    David@assetvaluer.net. David@apv.net
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  • 3.  RE: Valuation of strata land

    Posted 26 days ago
    To add to David's comment, land includes all fixtures there on, including, buildings, (and their fixtures) infrastructure (including roads and other network assets) open space structures and so on.

    Further, Acts differ across the country but they all have in common one requirement, that the valuer be an accredited member of a recognized industry regulator, such as the Australian Property Institute or the Royal Institution of Chartered Surveyors.

    So if there if there is no AAPI, FAPI, AAIV or MRiCS behind their name, then do not consider, this should also apply to project managers

    Regards

    Martin Burns
    AAPI MRICS
    Chartered Valuer

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    Martin Burns [Designation]
    National Director of Valuations
    Liquid Pacific
    North Sydney
    [Phone]
    solutions@liquidpacific.com
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