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Reconsiders the double sinking fund problem by looking at each of the common methods used. Investigates the underlying assumptions and the residual errors or inconsistencies. Notes that the use of traditional dual rate valuations results in a mathematical error within the valuation and an under‐valuation of the interest. Concludes that the Double Sinking Fund Method must be recommended in preference to Pannell′s Method.

Concludes an earlier paper by analysing the problems of negative contributions to the sinking fund. Notes that the use of traditional dual rate valuations results in a mathematical error within the valuation and an under‐valuation of the interest. Concludes that should the Chancellor of the Exchequer decide to allow exemptions from tax of sinking fund contributions and income within sinking funds the logic of dual rate valuation would be removed.

The inflation and depreciation assumptions implied within a traditional valuation should be exposed for consideration in an appraisal of a depreciation‐prone investment. Modern warehouses are examples of this type of investment. The all‐risks yield implies judgements concerning a long list of factors which affect the quality of an investment and its comparative appeal against alternatives such as gilt‐edged securities. An analysis for implicit growth is a starting point in an explicit appraisal. However, no account of depreciation is normally taken in the estimation of the growth implications. A combination of explicit growth and depreciation assumptions will enable an appraisal to be based upon a depreciated equated yield, the basis of the appraisal technique presented for consideration below.

This introductory paper is the first of three which reconsider what has become an accepted defect in the conventional investment method of valuation.

The purpose of this paper is to re‐visit the problems of taxation consequences of sinking fund in the UK and to look at what is believed to be the only rational reason for using the dual rate adjusted for tax method variant.

The structure of this paper is: valuing a freehold and a leasehold interest by the single rate gross and net of tax approaches to show the logic that works with freehold valuation interest may not work with leasehold valuation; exploring the tax impacts on sinking fund; resolving the taxation issue of sinking fund; demonstrating the solution to the “double sinking fund problem” by the Greaves method and the single rate net of tax approach; and exploring the future of the dual rate theory.

The paper confirms that the traditional method is not satisfactory, even after the modifications made by the various methods mentioned above. The single rate net of tax approach is proved to meet all expectations and can be regarded as a more rational approach to the dual rate method.

Valuers of the “UK School” might consider that not only should dual rate valuation be regarded as defunct, but also that the more appropriate approach might be to move to a net of taxation approach.

This paper is the original work of the authors.

This paper attempts to summarise the proceedings of a conference on sick buildings held on 22nd May, 1987. Although the conference was aimed initially at sick buildings syndrome it was extended by the speakers to cover all building related sickness, their causes, their avoidance, and the financial consequences. The conference was organised by Henry Stewart Conference Studies.

A preceding paper by Baum examined the valuation of reversionary freehold interests, distinguishing between conventional and modern approaches. This paper applies the same approach to the valuation of leaseholds, and falls into two parts. Part 1 examines conventional leasehold valuations and the criticisms that may be made, concluding that both dual rate and single rate conventional valuations should be abandoned except in limited circumstances. Part 2 identifies three alternative modern approaches — real value, rational model and DCF — and compares their use in three general variations of leasehold valuation. The results are compared, and recommendations for their use are made. Finally an overview of the application of modern approaches to investment property valuation is presented.

Risky and high‐risk alcohol consumption is prevalent amongst young females and university students. Relatively little research in Australia has focused on these groups. This study aims to use social marketing and consumer behavior principles to examine the attitudinal, normative and demographic factors which influence alcohol consumption amongst 18‐24‐year‐old, female university students.

A total of 230 female students in this age group were surveyed utilizing a personally administered, self‐report questionnaire. These participants were categorized as either low risk alcohol consumers (n=122) or high‐risk alcohol consumers (n=108).

The findings from this research indicate that a mixture of attitudinal, normative and demographic factors influence alcohol consumption amongst young, female university students.

This study aids in the development of targeted interventions to mitigate risky and high‐risk alcohol consumption amongst this cohort.