PROPERTY VALUATION REPORT
576 North Road Ormond, 3204
Abstract
The purpose of this report is to undertake a property valuation for 576 North Road Ormond and arrive at
a market value or probable price.
SRQ764 Building Project Evaluation
Student Name Withheld
29 September 2015 | Word Count 2,748 29 September 2015
Regarding: Property at 576 North Road Ormond, VIC 3204
Dear Client,
In compliance with you request, the researched market data and completed valuation analysis has been
undertaken for the above described property.
The purpose of this report is to estimate the market value of the subject site "as is", on the date of inspection, 24
September 2015 for pre-purchases purposes. The valuation method used was 'direct market comparison' as it is
the most relevant.
This report is written in compliance with the requirements and limitations set out in section 6 of this report.
Assumptions have been made which are outlined in section '5.3.2 Assumptions' when arriving at the market value.
Based upon the analysis conducted from the information available, the Market Value of the subject site, as
described herein, as of 24 September 2015, is considered to be:
$1,820,000
1
One Million Eight Hundred Twenty Thousand Dollars
Sincerely,
With a transaction zone of $1,085,000 - 2,646,000.
The report will lead a reader through the valuation process and provide a summary of the documentation, support
and reasoning in arriving at the estimated value. Therefore it is recommended to complete a full review of this
report.
It is also suggested that a debriefing session is undertaken so that this report can be discussed fully.
I look forward to hearing from you,
(student Name Withheld)
PROPERTY VALUATION REPORT | 576 North Road Ormond, 3204 PROPERTY VALUATION REPORT
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1 TABLE OF CONTENTS
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EXECUTIVE SUMMARY...........
1.1 Summary Of Facts and Conclusions
PROBLEM ANALYSIS & VALUE DEFINITION
Reason (S) For The Valuation
Evaluation Date
2.1
2.2
2.3
2.4
2.5
Assumptions From Client
Definition Of Value Adopted
Definition of Interest(s) To Be Valued.
2.5.1
PROPERTY ANALYSIS & SPECIFICATION OF ALTERNATIVE USE.
3.1 Physical Characteristics
Site Description
3.1.1
3.1.2
Improvements
3.1.3 Conclusions...
3.2 Legal Characteristics.
Items to be excluded in this valuation
3.2.1
3.2.2 Current Lease(s)
3.2.3
3.2.4
3.2.5 Conclusions...
Restrictions on Title..
3.3 Locational Characteristics..
3.3.1 Regional Location
3.3.2 Conclusions......
3.5.2
Town Planning Constraints.
Political Factors
3.4 Environmental Characteristics
3.4.1
On Site Factors
3.4.2 Off-Site Factors..
3.5.3
3.5.4
3.5 Psychological Characteristics.
3.5.1 The Locality....…......
The Property...
The Market
Conclusions......
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PROPERTY VALUATION REPORT | 576 North Road Ormond, 3204 4
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EVALUATION OF ALTERNATIVE USES AND SELECTION OF PROBABLE USE
4.1
4.2
Possible Alternative Uses
Selection of Probable Use
PRICE PREDICTION.
5.1
5.2
5.3
Most Probable Buyer.
Methodology To Predict Price....
Comparable sales
5.3.1
5.3.2
5.3.3 Adjustments.
Table of Data Collected
Assumptions.....
5.4 Results - Probable Price.
CONCLUSIONS
6.1 Limiting Conditions...
7 APPENDIX.........
8 REFERENCES
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PROPERTY VALUATION REPORT | 576 North Road Ormond, 3204 PROPERTY VALUATION REPORT
1 EXECUTIVE SUMMARY
Both primary and secondary data sources were used in the analysis contained in this report. Secondary data was
employed in gathering general information regarding market demand, sales prices, demographics and trends.
Primary data was gathered from the subject site through physical inspection and relevant documents.
1.1 SUMMARY OF FACTS AND CONCLUSIONS
Subject Property Address
Type of Property
Ownership
Date of Value
Physical Attributes
Legal Attributes
Locational Attributes
Psychological Attributes
Environmental Attributes
Probable Use
Probable Buyer
Initial price transaction zone
Adjustments
Adjusted price and transaction zone
576 North Road Ormond, VIC 3204
1/576 North Road Ormond, VIC 3204
Commercial retail space with residential apartment and
onsite carparking
Private
29 September 2015
Frontage: 14.72m
Land Size: 591m2
Building Size: 350m2
Improvements: 2 storey building, ATM
No Restrictions on title
Maximum Building Height of 9m
Within Commercial 1 Zone
Frontage to North Road
Close to buses and trains
Close to amenities, parks, shops etc.
Suburb consists of young individuals and families
High market demand
Mostly renters
Palm tree on site
No environmental hazards on-site
'As is'
Investor or developer
Transaction Zone: $1,295,000 -2,415,000
Adjustments made for building size, land size and site
improvements/characteristics
Market Value: 1,820,000
Transaction Zone: $1,085,000 -2,646,000.
PROPERTY VALUATION REPORT | 576 North Road Ormond, 3204/n SRQ764 Building Project Evaluation
DEAKIN
Worldly
***
SRQ764 Building Project Evaluation
School of Architecture and Built Environment
Trimester 2, 2022
GENERAL INSTRUCTIONS
1. This document is to be read in conjunction with the Unit Guide for this unit.
2. It is the responsibility of each student to confirm submission requirements including date, time,
and format.
3. Extension or Special Consideration may be considered for late submission. It is the responsibility
of each student to understand Deakin regulations regarding late submission and Special
Consideration for assessment.
4. You will be required to complete Assignment 1 as an individual, Assignment 2 in a group of five
students, and Assignment 3 as an individual. It is your responsibility to form your own group for
the Assignment 2.
5. All assignments must be submitted electronically through Cloud Deakin. Assignments submitted
in any other way will not be marked.
6. All assignments submitted through CloudDeakin must be in Portable Document Format (PDF).
7. You may refer to publications, but you must write in your own "voice" and cite the references
using the Harvard referencing style (Details about the Harvard referencing style can be found at:
https://www.deakin.edu.au/students/studying/study-support/referencing). It is essential for you
to fully understand what you write and to be able to verify your source if you are requested. The
library provides workshops and advice on citations and referencing.
8. The University regards plagiarism as an extremely serious academic offence. Submission through
Cloud Deakin includes your declaration that the work submitted is entirely your own group or
individual.
9. If you are not clear about the requirements of the assignments, please seek your Lecturer's help
as soon as possible.
10. Before starting your assignment, please read the University document, Study Support, at:
https://www.deakin.edu.au/students/studying/study-support
ⒸDeakin University
Trimester 2, 2022 SRQ764 Building Project Evaluation
ASSESSMENT SCHEDULE
No
1
2
3
Deliverable
Property Valuation Report 30
Group Research Report
Individual Report
ⒸDeakin University
Mark (%)
40
30
100
Format
Individual
Group
Individual
Submission Date
Week 5: Friday, 12 August 2022 by
8:00pm (AEST)
Week 9: Friday, 16 September 2022 by
8:00pm (AEST)
Week 12: Friday, 7 October 2022 by
8:00pm (AEDT)
Description
Written Report
Written Report
Written Report
Trimester 2, 2022 SRQ764 Building Project Evaluation
DEAKIN
Worldly
PURPOSE OF ASSIGNMENT 1
The purpose of this assignment is to enable you to:
Examine implications of various social and economic factors for property development and
investment
●
ASSIGNMENT 1
Property Valuation Report
30%
Apply processes and techniques to evaluate the economic components of complex building
projects
Evaluate and recommend processes and techniques used to prepare property valuation
reports
ASSIGNMENT TASK
Appraisal is about estimating the worth of something. Estimating the land value of a site is an
important part of building development appraisal.
You will need to select a site that can be used for a commercial property development. Then, you
are required to submit a Property Valuation Report that estimates the land value of the site. The
report must document processes and techniques used in property valuation.
Please note that the assignment task is about working out the possible land value of the site (not the
value of building, not the value of building+land).
You can select an appropriate site on some property websites, such as Pricefinder
(https://www.pricefinder.com.au/portal/app?service-external&page=setup/AutoSetup&cid=deakin)
and Commercial Real Estate (https://www.commercialrealestate.com.au/).
ADDITIONAL INFORMATION
This is an assignment that is to be submitted and marked as an individual.
FORMAT OF ASSIGNMENT
The assignment should be submitted as a Property Valuation Report.
This assignment should be presented as a single PDF document and should be presented as a well
formatted and structured report.
The report should be approximately 2,000 words (excluding diagrams, photos, tables, charts,
references, and appendices). The numbers of words in Title page and Table of contents are also
excluded.
ⒸDeakin University
Trimester 2, 2022 SRQ764 Building Project Evaluation
ASSESSMENT SUBMISSION
Submission is required on or before 8:00 pm Friday 12 August 2022 (AEST) through the "Assignment
1: Property Valuation Report" folder in CloudDeakin.
ASSESSMENT CRITERIA
A detailed rubric is provided on the next page.
ⒸDeakin University
Trimester 2, 2022 SRQ764 Building Project Evaluation
ASSESSMENT CRITERIA
Criteria
Letter of
transmittal
and
executive
summary
Problem
analysis and
value
definition
Property
analysis and
specification
HD
Deakin University
Excellent letter of
transmittal and
executive summary
with all key property
valuation information
included
Excellent problem
analysis and value
definition with
detailed explanations
Excellent property
analysis and
comprehensive site
information. Contents
are very clear and well
supported
Evaluation
of
alternative
most probable use
uses and
selection of with very detailed
explanations. Main
most
probable
Excellent analysis
about the alternative
uses and selection of
specification with very specification with
detailed and
some good site
D
opinions are very
clear and well
Very good letter of
transmittal and
executive summary
with most key
property valuation
information included
Very good problem
analysis and value
definition with some
good explanations
Very good property
analysis and
information. Contents
are clear and
supported
Very good analysis
about the alternative
uses and selection of
most probable use
with some good
explanations. Main
opinions are clear and
C
Good letter of
transmittal and
executive summary
with general property
valuation information
included
Good problem analysis
and value definition
with some general
explanations
Good property
analysis and
specification with
some general site
information. Contents
are generally provided
Good analysis about
the alternative uses
and selection of most
probable use with
some general
explanations. Main
opinions are provided
P
Basic letter of
transmittal and
executive summary
with limited property
valuation information
included
Basic problem
analysis and value
definition with
limited explanations
Basic property
analysis and
specification with
limited site
information.
Contents need
further clarification
Basic analysis about
the alternative uses
and selection of most
probable use with
limited explanations.
Main opinions need
further clarification
N
Poor letter of
transmittal and
executive summary
with very limited
property valuation
information included
Poor problem
analysis and value
definition with very
limited explanations
Poor property
analysis and
specification with
very limited site
information.
Contents need a lot
of clarification
Poor analysis about
the alternative uses
and selection of most
probable use with
very limited
explanations. Main
Total
10
10
20
10
Trimester 2, 2022
