Professional Services

Professional services: Provide specialist advice with regard to:

• Valuation of leases: for compliance for Taxation purposes (separation of business and property assets), market rental determinations, valuations and advice (including joint appointments to settle disputes) for Mergers and Acquisitions, formation of trusts and companies, insolvency matters, receivers and managers, separating assets for taxation purposes, formation and dissolution of partnerships and companies, commercial and retail leases etc.;
• Experts Reports and forensic analysis of Financial Reports and trading data (sales) and other Key Performance Indicators ("KPIs") for all retail business models (see CV); calculate quantum for losses arising out of alleged breach of lease (for Claimant/Applicant and Defendant/Respondent) for all scenarios; make adjustments to same for many reasons (see experience and qualifications as property manager, leasing agent, property consultant, business analyst, economist, qualified arbitrator with legal major, Specialist Retail Valuer, market research (feasibility studies) for given product or business model, including changes in centre/precinct performance, etc. due to internal or external factors);
• Experts Reports for outgoings disputes noting experience as Regional Property Manager;
• Experts Reports on causation (see Areas of Work) for breach of lease, noting experience as leasing agent, Specialist Retail Valuer, commercial law major, property manager, etc;
• Arbitration of disputes;
• Lease disputes;
• Reviews of rental valuations;
• Due diligence for acquisitions;
• Compensation matters;
• Expert witness reports;
• Outgoings - , business - , and centre performance analysis and benchmarking.

Risk management presentations: I have excellent presentation material including modelling and graphic analysis which demonstrates what I believe is high-risk behaviour in the industry, but more importantly solutions to prevent/stop this from happening. This is suitable for finance industry, bankers, landlords, tenants, the franchise industry, investors and potential investors, regulators, etc.

Lease consultancy services: provide advice with regard to:
All aspects of lease negotiations (new leases, existing, and renewing), structuring leases, ensuring greater balance in leases, market rental assessments, etc. à essentially adding intangible asset value to a lease or a package of leases.

Professional experience: 25 years in the property industry (19 in Australia and 6 in South Africa) in leasing, management, valuation, portfolio, and facilities management; also experience with fast-moving consumer goods marketing in the supermarket industry.

Professional fees and or presentation fees: these are in-line with industry experience, research, and investment in intellectual property.

Other areas of involvement:

• Following 1980/90 downturn, write a paper "Economics: a most useful tool for the valuer" (1993). [see paper attached]
• Professional Terminology: Sought to define the term “market rent” in 1995. This wording was subsequently adopted by the International Valuation Standards Committee (IVSC) into the International Valuation Standard (fourth edition, published in 2000). The aim was to benchmark rents—thereby bringing about consistency in process and outcomes—to result in better quality income streams. This would flow-on into more accurate asset valuations (capital value).

• Presentations of Papers:
• “Market rent: What is it?” and “Market rent revisited” at the first World Association of Valuation Organisation congress (Singapore, November 2006).
• “Settling rental (and other retail lease) disputes by Expert Determination” at the second WAVO congress (Beijing, China). It was awarded ‘Best Research Paper’.
• “Back to basics: An Australian REIT case study of the Shopping Centre Industry” at the Pan Pacific Valuers Congress (Seoul, Korea, September 2008).
• Rental determinations and arbitration (ADR): A micro solution to the macro problem” at the forth WAVO congress (Guilin, Guang Xi Province, People’s Republic of China, November 2009). Material supports previous research and papers written above, in that the A-REIT (retail sector) has seen a loss of shareholder value of minus - Market capitalisation Nov ’07 A$97.4 bill; June 2009 A$34.13 or minus – 65%; Excluding CFS Gandel/Westfield minus – 81%; Government protection (rent control); Detrimental to stakeholders; Damage to Intangible Asset Value of landlords and tenants leases; Simple legislation required; A-REITs back to shareholders more capital; bonds; Ambushed by Shopping Centre Council; Had the industry adopted these principles, the “bubble” would have been smaller, and, secondly investors have moved elsewhere (rather than being a defensive investment class).
  
• Matching market demand to supply of retail space via more accurate market rental valuations for more efficient development and use of retail space" 17th Pacific Rim Real Estate Society Conference: (January 2011), Bond University Mirvac School of Sustainable Development, Holiday Inn, Gold Coast, Queensland, Australia

Click here to download papers

• Upcoming Presentations:
• Review: Of South Australian retail tenancy legislation, proponent of Outgoings Code of Conduct, and part of QRTSA review team for Queensland Legislation.
  
  
• Submissions:
• To “Inquiry into Fair Trading” (1997) and Senate Review of “Effectiveness of the Trade Practices Act 1974 in protecting small business” (2003).
• Prepare submissions for QRTSA The Retailers Association and clients to Retail Tenancies Inquiry by Productivity Commission (2007) (see here).
  Prepare submission to the Productivity Commission (2011).
  
• Other interests: Paper for “Proposed foundation for more efficient consumption”, seeking to bring about behavioural change in mankind’s interaction with its environment. Sir David Attenborough stated: “I wholly support your aims.”

Warning: I would like to bring to the attention of market participants of a particular issue with regard to Specialist Retail Valuers in Queensland.

This has been previously raised with me by two senior valuers: Expert Determinations being carried out by some valuers who are not independent of management companies, are failing to carry out rental determinations in accordance with the Provisions of The Retail Shop Leases Act. A possible reason is that often, generally management fees are a percentage of rent (and other income i.e. outgoings, utilities, etc.) collected. The Specialist Retail Valuer should be declaring that he has conflicts of interest and cannot perform the task; moreover, nor should The Retail Shop Leases Registry be appointing them. This is a form of “rent control”. I have just witnessed such an event. The consumer is definitely paying via higher prices, any purchaser/investor would—by deception—be paying a higher price if they purchased the property, shareholders might be paying a higher price into securities at the top of a “bubble” and financiers unwittingly accepting mortgage security over properties. This, in my opinion, is not in the interests of the industry.