Valuation means understanding
Valuating properties means understanding the changing needs of potential users, buyers and tenants. The quality of the location, the functionality of the property and the business model for the intended use must meet the needs of market participants. The high quality of market data forms the basis for our valuation.
The quality of existing research data forms the basis of market-compliant valuations of office properties. As members of BIIS, the federal German association of property investment experts, we have access to the largest database world-wide with details on selling prices and agreed rents. Together with our in-house database, broad market research and, naturally, our many years of experience, these units form the basis for the reliable valuation of your office properties.
In the course of our valuation practice, we have valued all property categories, from single-family houses and freehold flats to large housing estates. In the past years, we have valued extensive portfolios comprising multi-family residential buildings for a number of German and international mortgage banks as well as several Landesbanken.
We have many years of expertise in the valuation of all types of retail properties. The market for this asset category is subject to a continuous development process. Changes in the local and regional competition situation, buying power, centrality and visibility as well as development cycles and changes in purchasing behaviour can affect the profitability of discount supermarkets, retail warehouses and shopping centres within short periods of time. Our valuation practice ranges from classical supermarkets to shopping centres with market values amounting to several hundred million euros. Additionally, we have valued a number of retail portfolios in recent years.
Storage and logistics properties
Downsizing of manufacturers’ own warehouse capacities and the expansion of online trade have promoted the development of this asset category. The technical and logistical requirements for storage and logistics properties have increased steadily. Categorising existing storage qualities and property features requires a thorough knowledge of this submarket. Our valuation portfolio ranges from classical transit stores to large-scale central warehouses.
As a rule, the focus of industry is on production. Buildings serve solely as an envelope for the respective processes and are part of the value chain. Due to this often non-functional structure, their adaptability for use by third parties is often very limited. The replacement of an existing building with a functional new building must therefore be taken into account as an alternative during a valuation that reflects the situation in the market. As a member of the “Industrieimmobilien” specialist group for industrial properties, Dirk Fischer-Appelt is co-author of the HypZert “Bewertung von Industrieimmobilien” study on industrial properties, which provides background information for other experts and trade professionals which could have value relevance for the valuation of industrial properties. We provide comprehensive consultancy services for our clients in the area of corporate real estate management.
Properties run by operating companies
The valuation of special properties and properties run by operators has become one of our firm’s main areas of focus. Besides the classical operator-run properties such as hotels, retail properties and all types of nursing homes, we have extensive expertise in the valuation of complex operator-run properties of various more unusual types: for example, cinemas, musical theatres, stud farms and stables, quays, fashion centres, refugee homes, student hostels, camping sites and a shipyard for inland navigation vessels.