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dc.contributor.authorJefferies, Rodney L.en
dc.date.accessioned2008-03-04T02:10:55Z
dc.date.issued2005-04en
dc.identifier.issn1174-5045en
dc.identifier.urihttps://hdl.handle.net/10182/331
dc.description.abstractGround rentals are commonly valued by applying a 'ground rental rate' as a percentage per annum to an assessed vacant land value. This paper presents a ground rental valuation model to determine the appropriate 'ground rental rate' based on equating the long-term costs of building on leasehold land versus freehold land. The model solves for a ground rental that produces equivalent net present values at differential freeholder's and lessee's required investment returns. These returns reflect the different risks and returns in ground leasing compared to outlaying capital to buy land for erecting a building as an investment property.en
dc.format.extent1-39en
dc.language.isoenen
dc.publisherLincoln University. Commerce Division.en
dc.relationThe original publication is available from - Lincoln University. Commerce Division.en
dc.subjectleasehold investment returnsen
dc.subjectleasehold v freehold investmenten
dc.subjectindifferenceen
dc.subjectground leasesen
dc.subjectground rental valuationen
dc.subjectland valueen
dc.subjectrental percentageen
dc.titleDeveloping a ground rental 'indifference' valuation modelen
dc.typeDiscussion Paper
dc.subject.marsdenFields of Research::350000 Commerce, Management, Tourism and Services::350300 Banking, Finance and Investmenten
lu.contributor.unitLincoln Universityen
lu.contributor.unitFaculty of Agribusiness and Commerceen
lu.contributor.unitDepartment of Land Management and Systemsen
pubs.organisational-group/LU
pubs.organisational-group/LU/Faculty of Agribusiness and Commerce
pubs.organisational-group/LU/Faculty of Agribusiness and Commerce/LAMS
pubs.publication-statusPublisheden
dc.publisher.placeChristchurchen


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