Olatunji, A; Adama, U; Adoga, A; Ojetunde, I; Adewale, S and Nwuba, C C (2020) Valuing an underperforming agricultural entity in Minna, Nigeria as a specialised property. African Journal of Built Environment Research, 4(1), pp. 97-115. ISSN 2414-0236
Abstract
In the absence of clear standard guides for valuing distressed agricultural properties undergoing buyouts, valuers resort to a valuation template prescribed for specialised property. This study examined the anecdote that the Valuation Standards template for valuing specialised property, suffices for valuing a non-performing agricultural entity, NPAE. Data from a purposive case study of OxFarm and questionnaire survey of 29 commercial farms in Minna environs were applied using qualitative theme analysis. The study analysed the existing valuation standards template for specialised properties and conducted a benchmarking of NPAEs with specific emphasis on OxFarm case study. A collective grade point index, CGPI, was developed to assess and classify selected farms' operational performances. The study found that the general standards for valuing specialised property do not fully recognise the operational performance state of agricultural entities. It is recommended that the recognition of operational performance status of an identified specialised property and the application of combined techniques in the choice of bases and methods matching the purpose of valuation couldprovide a pathway to best practices in valuing NPAEs. The study has implications for research and practice.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | agricultural entity; case study; Nigeria; performance; questionnaire survey; specialised properties; valuation standards |
| Index terms: | valuation standard, case study, valuer, survey, Nigeria, best practice, questionnaire, specialized property, benchmarking, agricultural entity |
| Subjects: | real estate economics, environmental resource management, construction type, profession, data collection methods, business, performance measurement, Geography |
| Topics: | Business Strategy, Research Practice, Geographical Context, Roles and Professions, Construction Technology, Sustainability, Urban Studies, Quality Management |
| Descriptive scope: | 4 PCEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here