Investors require to be fully briefed on the risk profile of their investments. The UK valuation profession has been criticized for inconsistencies and failures to reflect risk and this was reinforced by the Investment Property Forum/Investment Property Databank (2000) which highlighted the need...

Recent volatility in the commercial property markets has brought into sharp focus the importance of the cash flow security in property pricing. The explicit contribution of income risk factors, such as covenant strength, to the pricing model does not have a major coverage in the literature. This...