Glossary

Areas of buildings available for occupation. Space which is empty but unable to be occupied is not included in the calculation of vacancies and marketable stock. Vacant space is designated as being available either on a direct or sub-lease basis.

The percentage of total marketable stock that is vacant. The ratio of total vacancy to total rentable area, usually expressed as a percentage.

The prediction of the value of an asset, depending on the purpose for which the valuation is required.

A person who is:

1. Registered/licensed/approved to carry out property or plant and machinery valuations under any State, Territory or Commonwealth legislation, and/or;
2. A member of the Australian Property Institute who is accredited as a certified practicing valuer.

The seller of the property.