This course will cover the art and science of commercial property valuation, from information gathering, the due diligence process, the core valuation methods used for commercial property, and how to create simple valuation models for commercial property using Microsoft Excel as a calculation tool. 

This course is designed to give delegates the background, methodology and practical tools to understand and produce commercial property valuations.

We will cover the main purposes, bases and methods for commercial real estate valuation, culminating in producing a valuation using Excel as a calculation tool. By the end of the course, delegates will be able to confidently use spreadsheets to assert market values, while at the same time following best practices in spreadsheet modelling and valuation methodology

Commercial real estate valuation is a skillset that is always in demand. Many valuers lack the technical abilities to produce these on a spreadsheet, instead heavily relying on third-party, black box software to produce values.
The Commercial Property Valuation in Excel course will provide the participants a very valuable skillset, a pre-requisite for many commercial property valuation jobs. Strong valuation knowledge coupled with technology expertise is now a requirement for the successful valuation surveyor.
The benefits of using Excel is allowing valuers to create a more transparent valuation tool, understand the workings behind the calculations and as such, feel more confident with their valuation output.


– Face to face: 2 days, 9.30am to 4.30pm
– Online: 5 days, 9am to 1pm
Location: London/Online
CPD Hours: 12
Level: Basic
Maximum number of delegates: 8
Course fee:  Online £995 + VAT, Face-to-face £1,195 + VAT (Payment Plan available)

Next Dates:

19-23 October 2020 – Online, from 1 pm to 5 pm
7-11 December 2020 – Online, from 9 am to 1 pm



Face to Face: Day 1 

Online: Sessions 1 and 2

Preparing to Value

• The concept of valuation
• Valuation steps
• Due diligence
• On site investigations – inspection & measurement
• Market sentiments
• Ascertain value significant lease terms in a tenancy
• Rental analysis

Property Yields

• Input versus output yields: initial, reversionary, exit and equivalent yields
• Calculation of output yields, including the equivalent yield in the Traditional Method and Discounted Cash Flow
• What are yields telling you about the property?

Valuation Methods

• Identifying the appropriate method of valuation and yields

Face to Face: Day 2

Online: Sessions 3 and 4

Basics of Excel Spreadsheet Modelling

• Golden rules for creating valuation models
• Setting up a valuation model and maintenance
• Excel short-cuts and how to become an efficient Excel user
• Data management and housekeeping in Excel

Traditional Investment Methods

• Under- and Over-rented scenarios
• Term & Reversion
• Hardcore & Layer Method
• Hardcore & Top Slice Method
• Years’ Purchase (YP) calculations and yields

Discounted Cash Flow Method

• Setting up the cash flow model using Excel functions
• Present Value (PV), Future Value (FV) and the Net Cash Flow (NCF)
• Calculation of exit value
• Capital value and returns calculations using Excel functions

Development Residual Method

• The Profits Method
• Gross Development Value (GDV) vs Net Development Value (NDV)
• Development costs calculations
• Financing costs calculations
• Residual Land Value calculation based on Profit on Cost (POC) and Profit on Gross and Net Development Values
• Land value based on different development options

Sensitivity Analysis

• Setting up sensitivity data tables
• Creating sensitivity charts

Our Expert Trainers


Kate Taylor, FRICS

Maria Wiedner Headshot

Maria Wiedner, CFA, MRICS


Still wondering if this is the right course for you? Contact us and we will find out together.