Valuations


The valuations of port lands and properties present a unique challenge to the traditional valuer not understanding in-depth the true nature and specialised use port operations have land values. Essential elements inherent in obtaining generally acceptable 'market values' typically do not exist at most ports today. This makes conventional paradigms of real estate valuation practices and concepts not readily applicable to most port land valuation instructions and in valuations not reflecting true market worth.

This mainly is a result of most valuations relying too heavily on non-port comparable sales and rents, depreciation schedules, assessments, not being able to determine appropriate reproduction cost estimates, not being able to identify what constitutes functional and economic obsolescence, unrealistic land valuations, challenges in justifying market/income approaches to value and attempting to base valuations on disposal versus present use of the property.

In order to effectively undertake a realistic valuation of port properties, in addition to traditional experience and knowledge, a comprehensive database of operational and income market data for the port industry worldwide is required.

Aegir and Drewry offer the unique combination of property knowledge and skills and market intelligence in the maritime industry, offering the necessary platform with which to produce timely and realistic valuations of both port properties and ports themselves.