Valuation policy for New Listing investments

Funding target

The funding target of a New Listing, which forms the basis for the share price, consists of:

• The property’s purchase price (see the definition below)
• Plus all third party purchase costs and additional funds required for furnishings and repairs
• Less any mortgage (which is a term loan secured against the property)

Purchase price

The purchase price for a New Listing is the price paid to acquire the property, which in turn is supported by a Chartered Surveyor’s physical inspection and valuation.