Недвижимость: экономика, управление (Jun 2023)
Theoretical and practical features of data processing centers evaluation (DPCs)
Abstract
In this Article the author considers the features observed in the course of valuation of special purpose real estate, i.e., the data processing centers (DPCs) and the data processing and storage centers (DPSCs) in accordance with experience accumulated by the international community and based on the recommendations contained in the International Valuation Standards as well as the RICS methodological guidelines (The Royal Institution of Chartered Surveyors (Great Britain)). The present article is justified as currently Russia lacks a separate and uniform for all valuers or forensic experts standard or methodological recommendations in the sphere of valuation of the data processing centers and courseware is scarce. At the same time Russia, similar to other countries of the world, is witnessing a considerable growth of construction of the DPCs later involved in the stream of commerce as transacted, subject to mortgage or disputed properties. The present article analyzes the modern approach internationally applied to value the DPCs, summarizes the author’s personal professional experience in this sphere. At the same time the author determines and provides a deep insight into the specifics of the target group or real estate, identifies and classifies its key merits which exert effect on the properties’ value. The author provides a deep insight into applying the valuation approaches and methods, together with practical recommendations as to how measure market value within the frameworks of the cost, market or income approaches. The author gives special focus to the key (income) approach, describes the details of the types of the services which are capable of forming income from DPC operating activities, examines the items of DPC operating costs and provides practical guidelines to be applied to measure the cap rate of this type of real estate.
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