Commercial Leisure Property Valuation: A Comparison of the Case Studies in UK and Lithuania

• Authors: Vida Maliene , Steponas Deveikis , Louise Kirsten , Naglis Malys

Title variants

LT

Laisvalaikio verslo nekilnojamojo turto vertinimas: JK ir Lietuvos atvejų palyginimas

Abstracts

EN

The development of leisure as an economic activity has come into focus over the last century. Nowadays, a commercial leisure property has gained an important role within the total spectrum of world economies. Despite these developments in the leisure sector, the valuation of property for the purpose of commercial leisure is still regarded as an Achilles' heel. The accepted approach to the property valuation in UK is to perform an open market valuation for the existing use. However, for the specialized properties including leisure assets, the distinctive valuation methodology has to be applied. This paper outlines the principles of methodology that are commonly used for the valuation of leisure property in the UK, Lithuania and other countries. Factors affecting the valuation process with respect to the property development and investment decision are discussed. The study is accompanied with examples of valuation method applications and analyses of individual case studies of golf course valuation.

LT

Per pastarąjį šimtmetį laisvalaikio vystymas tapo reikšminga ekonomikos veiklos sritis. Šiuo metu laisvalaikio verslo nekilnojamasis turtas vaidina svarbų vaidmenį pasaulio šalių ūkinėjė veikloje. Nepaisant laisvalaikio sektoriaus išsivystymo, nekilnojamojo turto vertinimas laisvalaikio verslo srityje vis dar yra silpnas. JK priimtas nekilnojamojo turto vertinimo būdas pagrįstas atviros rinkos vertinimu pagal turto paskirtį. Tačiau specializuotam nekilnojamajam turtui, taip pat ir laisvalaikio, išskirtinis vertinimo metodas turi būti taikomas. Šiame straipsnyje apibūdinami principai, kurie taikomi laisvalaikio nekilnojamojo turto vertinimui JK, Lietuvoje ir kitose šalyse. Straipsnyje nagrinėjami veiksniai, kurie daro įtaką vertinimo procesui, kai nekilnojamasis turtas vertinamas vystymo ar investavimo tikslais. Tyrime pateikti golfo aikštynų vertinimo metodų ir analizės pavyzdžiai

Keywords

EN

Leisure; Property; Valuation; Methodology; Golf

• Publisher: Sciendo
• Journal: International Journal of Strategic Property Management
• Year: 2010
• Volume: 14
• Issue: 1
• Pages: 35-48

Contributors

author

Vida Maliene

• School of the Built Environment, Faculty of Technology and Environment, Liverpool John Moores University, Cherie Booth building, Byrom Street, Liverpool L3 3AF, UK

author

Steponas Deveikis

• State Enterprise Centre of Registers, V. Kudirkos Street 18, LT-03105, Vilnius, Lithuania

author

Louise Kirsten

• School of the Built Environment, Faculty of Technology and Environment, Liverpool John Moores University, Cherie Booth building, Byrom Street, Liverpool L3 3AF, UK

author

Naglis Malys

• Faculty of Life Sciences, University of Manchester, MIB, 131 Princess Street, Manchester M1 7DN, UK

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Identifiers

DOI

10.3846/ijspm.2010.04