Global Real Estate Valuation Software for UK

Global Real Estate Valuation Software for UK

MRI Software’s Global Valuations for real estate continues to gain momentum with firms in the United Kingdom. The software is designed to do much more than value acquisitions, forecast cash flow, and accurately value complex commercial real estate assets. The revolutionary Valuations solution is engineered to simplify business processes, track valuation progress, and facilitate intercompany collaboration through MRI’s secure, web-enabled file sharing technology, MRI ShaRE.

At MRI, we’ve always been committed to providing flexibility and choice, even for commercial real estate valuations. That’s why our Global Valuations software is available in two deployment models depending on what works best for your business.

Desktop

This flexible solution is driven by a superior calculation engine capable of valuing the most simple to the most complex commercial assets over an unlimited time horizon. MRI Global Valuations supports all major geographical valuation standards, including term and reversion, hardcore, discounted cash flow (DCF), capitalization, and equivalent methods. The solution allows for multiple versions per asset, thereby supporting comprehensive side-by-side analysis at a lease, unit, and even account level.

SaaS

Did you know that MRI also provides a SaaS offering of our Global Valuations solution? The SaaS offering features all the same functionality of our desktop solution, plus additional features:

• Central repository for asset and debt modelling functionality
• Portfolio reporting and scenario modelling
• Portfolio attribution analysis
• Performance reporting (returns, IRR, XIRR, and more)

Valuation Advisory Board and UK Readiness

Over the last 18 months, MRI Software have been working with some of the leading UK investment institutions and service providers as part of a Valuations Advisory Board. The feedback from this group has been instrumental in ensuring our Valuations solution fulfills the requirements of the UK market. Collaboration between MRI and members of the Advisory Board has resulted in several key enhancements that are now available in the product today.

Additionally, MRI have been conducting invaluable Valuation Trials with institutions and service providers. The trials have proven the following with regards to MRI’s Global Valuations solution:

• UK market-ready solution with a robust calculation engine for valuation service providers
• Comprehensive suite of asset and fund modelling capabilities
• Seamless integration via MRI ShaRE for browser-based collaboration

What’s in MRI’s latest real estate valuation software release?

We’re pleased to say that MRI’s latest release includes the following functionality:

UK Valuation Cost Schedule

A new Valuations Cost Schedule is available that reflects the costs considered in valuations and ignores costs that are forecasted after the reversion date. It allows users to review the capital costs contributing to valuation results in great detail.

Valuation Pages Redesign

In addition to functional changes, many UI enhancements have been made to improve the ease of producing the valuation. Based on industry best practices and driven by feedback from the UK Advisory Board, these changes allow UK valuers to see and modify all key data points on one page.

Lease Revenue Costs based on % of ERV or % of Passing Rent

Lease Revenue Costs can now be calculated in the Derived Charges section of a Lease Contract. Start Date and End Date fields have been added for use whenever the calculation mechanism is % of Market or % of Passing, and a Once Only option is also available when no recurrence is required.

Fixed and Rate PSF Market Lease Revenue Costs

Stated Charges in a Market Lease can now be calculated as a Fixed amount (as opposed to a continuing or market rate), and this can be defined as either a per annum or per square foot amount.

Capital Costs Spread Across Void Periods

A new Spread (Void) calculation type has been added to the Property and Unit Capital Costs page. When a per annum or per square foot amount is entered for the cost, it will be spread evenly across each void period based on the vacant space.

WALE Report Includes Executed Renewals and Monthly Leases

The Weighted Average Lease Expiry (WALE) report now always considers the latest lease with a Lease Status of Executed. A new Include Non-Executed Leases setting will allow it to consider non-executed leases.

Holdover Leases Treated as Known at the Current Date

A new Treat Holdover as Known setting is available on the Weighted Average Lease Expiry (WALE) report and Lease Expiry reports. The setting allows holdover leases to be considered as a “known” leases up to the end of the model’s current date.

Valuation Reports Enhancements

Various changes have been made to improve both the Detailed Valuations and Valuation Summary reports. This includes:

• New runtime settings to control the Report Date, Model, and Show sections
• Rows and columns are automatically frozen when only one section is displayed to ensure key cells are always visible when scrolling
• A new column in the Running Yields section to display Quarterly in Advance yields
• Links in the Unit Valuations section to open the specific Unit Details page
• An Event Type column in the Unit Valuations section that displays the primary event that causes the valuation event

Costs Calculated Off Net Say Value

A new option is available to allow Investment Costs to be calculated off the Net Say Value (rounded) instead of the Net Value (unrounded). 

Fixed Fee on Purchaser’s Costs

Purchaser’s costs can now include a Fixed Fee amount in addition to existing fees. The other Purchaser’s Costs are calculated after the Fixed Fee has been applied, and VAT % will be applied to the Fixed Fee, if provided.

Different Fees for Entry and Exit Valuations

A new set of fees is available to provide different costs for entry (current) valuations and exit (future) valuations. These include Agent, Legal, Fixed, and Other fees.

Initial Yield Method

A new Use Initial Yield for Exit Valuations option is available in Capitalisation Groups to switch to the Initial Yield method when calculating future valuations.

If you would like to find out more about any of the above, please contact us.

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