Providing Opinions or Determining Current Market Rent during a pandemic eg. Covid-19, including compliance with Australia’s National Code of Conduct
When Covid-19 first started emerging sometime in January my ears pricked up. Since I was…
My office has just had an overseas due diligence inquiry about the purchase of a large Australian retail chain. The price points (and value and price they might pay, and the rents and valuations and the sustainability of same) are currently being held up by business momentum and historical figures. With high unsustainable minimum wages and rent currently being covered as a necessity to remain viable and underpinning same, I conveyed this to the prospective purchaser’s consultants.
Regrettably the message to the detriment of the Shopping Centre Industry is getting out via this Webpage. And so is the Intellectual Property behind it, with logic and reasoning. This also significantly clashes with the intent of IAS 138 (see below) in that all stakeholders ought to be fully informed, whether rental income streams are at “real value” or “paper value”.