林耀光你收皮啦,你個仆街淨係識放屁 ......扮乜能野呀!我而家屌你老母..吹呀？ -- The Brotherhood Chat room

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Date Posted: 08:28:52 10/20/01 Sat
Author: 林耀光條賓周+歡迎炸佢: nancychow@hkpro.com.hk
Subject: 林耀光你收皮啦,你個仆街淨係識放屁 ......扮乜能野呀!我而家屌你老母..吹呀？

2.Assuming a target rate of return of 10%, what is the Net Present Value of the following property investment opportunity: State any additional assumptions made.
Current capital value:£2000000
Acquisition fees:2.5% of capital value
Rental income:£120000 (receivable annually in arrears and fixed)
Holding period:5 years(sale at the end of year 5)
Estimated disposal price:Assume that current capital value will grow at 6%pa
Disposal fees:3% of disposal price
3.Stating any assumptions made:
(a)Calculate the open market rental value of a high street shop which has a frontage of 9 metres and a depth of 22metres. A shop close by in the same high street, which has a frontage of 8 metres and a depth of 20 metres was recently let for £48000pa. (20 marks)
(b)Calculate the capital value of a modern 5000 gross office building which has a reliable tenant on a long lease which contains regular rent reviews. The tenant is paying a rack-rent of 110 per and is responsible for internal repairs. The yield on comparable transactions is 9%. (13 marks)
4.Discuss the reasons for the increase in the popularity of residential owner occupation since 1979.
5(a)using a simple arithmetical example, exlain the relationship between the rent, yield, years purchase in propetuity and capital value of a commerical property. (11 marks)
(b)explain why the yield on gilt edged stocks might differ from the yield on an average property investment. (11 marks)
(c)discuss the reasons why the yield might differ on different types of commerical property. (11 marks)

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