Glossary

A right to use the land of another. Most commonly used where Government authorities have the right to run, for example, electrical mains or drainage through private property.

Earnings Before Interest and Tax.

The effective life of an asset which, due to economic reasons, will be less then the assumed physical life.

The actual rate of return obtained after adjusting for rental concessions or impending vacancies.

Where a building extends beyond its surveyed boundary.

A charge or liability on a property; for example, a mortgage or a special condition on the use to which it may be put (e.g. easements, restrictions and reservations).

Where a change (e.g. re-zoning) or some other external factor increased the value of an asset.

The review of environment management practices; in particular, the evaluation of a site for environmental liability.

The use of procedures that minimise adverse environmental impact during construction and site operation.

Environmental Protection Authority.

The interest or value which an owner has in an asset over and above the debt against it.

A person who is recognised as having special knowledge or skills.