Pricing short leases and break clauses using simulation methodology

Journal of Property Investment & Finance

Volumn 19, Issue 4, 2001, Pages 361-374

  Mcallister, Patrick ^a  

^a UNIVERSITY OF READING   (United Kingdom)

Author keywords

Leases; Pricing; Risk; Simulation

Indexed keywords

EID: 84986082133     PISSN: 1463578X     EISSN: None     Source Type: Journal    
DOI: 10.1108/EUM0000000005790     Document Type: Article

References (12)

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3. Crosby, N., Markwell, S. and Murdoch, S. (2000), Monitoring the Code of Practice for Commercial Leases, DETR, London.
4. Drivers Jonas (1997), Commercial Leases – A Permanent Revolution, Drivers Jonas Research, London.
5. Grenadier, S. (1995), “Valuing lease contracts: a real-options approach”, Journal of Financial Economics, Vol. 38, pp. 297-331.
6. Lizieri, C. and Herd, G. (1994), “Valuing and appraising new lease forms: the case of break clauses in office markets”, Proceedings of RICS the “Cutting Edge” Property Research Conference, September.
7. McAllister, P. and O'Roarty, B. (1998), “The legal and valuation implications of break clauses: a behavourial perspective”, paper delivered at RICS “Cutting Edge” Conference, de Montfort University, Leicester.
8. McAllister, P. and O'Roarty, B. (1999), “Pricing break clauses: a fundamental approach”, paper delivered at the RICS Cutting Edge conference, Cambridge.
9. O'Roarty, B., McGreal, S. and Adair, A. (1997), “The impact of retailers store selection criteria on the estimation of retail rents”, Journal of Property Valuation and Investment, Vol. 15 No. 2, pp. 119-30.
10. Patel, K. and Sing, T.F. (1998), “Application of contingent claim valuation (real option) model for property investment analysis”, paper delivered at RICS “Cutting Edge” Conference, de Montfort University, Leicester.
11. Rowland, P. (1999), “Pricing lease covenants: turning theory into practice”, paper delivered at PRRES Conference, Kuala Lumpur.
12. Ward, C. (1997), “Risk neutrality and the pricing of specific financial aspects of UK leases”, paper delivered at RICS “Cutting Edge” Research Conferences, Dublin.