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 1 2 1 TABLE OF CONTENTS 3 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...... 2 4 4 4 5 5 5 5 5 LO 5 5 6 6 6 7 7 7 7 7 8 8 8 8 8 8 8 8 9 9 9 9 10 PROPERTY VALUATION REPORT | 576 North Road Ormond, 3204 4 5 6 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 3 11 11 11 12 12 12 13 13 14 14 15 16 16 17 19 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