Port Property Valuations and Appraisals


The valuations of port lands and properties present a unique challenge to the traditional valuer not understanding in-depth specialised nature and impact port operations have on values. Essential elements inherent in obtaining 'market values' typically do not exist at most ports today such as a wide availability of 'comparable sales' since ports typically do not sell land or facilities. This makes conventional paradigms of real estate valuation practices and concepts challenging to apply to most port related land valuation and results often times in valuations and appraisals not reflecting true market worth, and a corresponding waste of time.

This mainly is a result of most valuations relying too heavily on non-port related or located comparable sales and rents and other relevant data. Additionally not being able to determine appropriate reproduction cost estimates, what constitutes functional and economic obsolescence, using unrealistic land valuations, a lack of experience and knowledge with ports in justifying market/income approaches to value and attempting to base valuations on disposal versus present use of the property often results in valuations and appraisals of little relevance.

In order to effectively undertake a realistic valuation of port properties, in addition to traditional property experience and knowledge, a comprehensive understanding of ports and a database of operational and income market data for the port industry worldwide is required. In many cases we work with local appraisers to ensure the latest and most accurate local non maritime related property market information and market dynamics.

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