Challenges Associated With Valuation of Specialized Properties (A Case Study of Hope Alive Trust Hospital Idofian Kwara State)

TABLE OF CONTENT

Title Page                                                                                    i

Certification                                                                                 ii

Dedication                                                                                   iii

Acknowledgement                                                                       iv-v

Table of Content                                                                          vi-ix

Synopsis                                                                                      x

CHAPTER ONE                                                                        1-9

1.0     Introduction                                                                       1-2

1.1     Background of Study                                                         2

1.2     Statement of Research Problem                                         2

1.3     Aim and Objectives                                                                     2-3

1.4     Significance of the Study                                                   3

1.5     Scope of the Study                                                             3

1.6     Limitation of the Study                                                      3

1.7     Study Area                                                                         4-6

1.8     Definition of Terms                                                                     6-9

CHAPTER TWO                                                                       10-20

2.0     Literature Review/Conceptual Framework                        10

2.1     Valuation Concept                                                             10-11

2.2     Purpose of Valuation                                                         11-12

2.3     Method of Valuation                                                          12-14

2.4     Types of Property                                                              15-16

2.5     Development Requirement of Specialized Property.                    16-19

2.6     Specialized Property as an Investment                               19-20

CHAPTER THREE                                                                   21-24

3.0     Research Methodology                                                      21

3.1     Introduction                                                                       21

3.2     Source of Data Collection                                                            21

3.3     Primary Source                                                                 21

3.4     Secondary Source                                                              22

3.5     Target Population                                                              22

3.6     Sample Frame                                                                    22

3.7     Sampling Techniques                                                        22

3.8     Methods of Data Collection                                               23-24

3.9     Method of Data Analysis                                                   24

CHAPTER FOUR                                                                               25-32

4.1     Data Presentation and Analysis                                         25

4.2     Construction and Material Used for Calvary Baptist Church       25

4.3     Interpretation of Data on Facilities                                               26-27

4.4     How the Property is Being Managed                                 27

4.5     Facilities within the Study Area                                         27

4.6     Valuation Exercise                                                             27-28

4.7     Sketch of the Total Floor Area of the Church                    29

4.8     The Need for Serious Adjustment in the Valuation of Different Types of Properties                                                                      30-32

CHAPTER FIVE                                                                       33-35

5.0     Summary, Conclusion and Recommendation                     33

5.1     Summary of Finding                                                         33

5.2     Conclusion                                                                        33-34

5.3     Recommendation                                                               34-35

REFERENCES

APPENDIX

PICTURE

 

 

 

SYNOPSIS

Specialized properties are classes of proprietary bud wants which fall outside the general range of residential, commercial and industrial properties.

These properties have no comparable in the noble market, they lack rental evidence and they are not easily adapted to alternative uses.

Valuation of specialized properties poses a very tedious task for the values because of its specialized nature. It needs wider experience coupled with the availability for data and involves huge & capital outlay to build up. The challenges associated with valuation of specialized property with a case study Hope Alive Trust Hospital, Idofian, Kwara State, would aim of revealing all the task and challenges that are involved in the valuation. Furthermore, appropriate method for the valuing such specialized property shall be employed to determine the capital value of the said property. Finally relevant recommendation will be made in order to ensure efficiency in the valuation exercise of a such property.