Contaminated land – quantifying the inputs to an explicit appraisal model

The means to quantify the inputs to be used by a valuation surveyor in an explicit model for appraising contaminated land are explored. These relate to treatment techniques and cost estimates; and forecasting techniques and the forecasting of future rent and capital flows, cost changes and depreciation. A comparison is made with a “traditional” valuation approach. It is concluded that an explicit approach is more likely to satisfy the calls for more sophisticated and creditable approaches and more explanation and justification in appraisals and valuations.