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NZ Registered Valuer Exam Practice Questions - NZ Valuers Registration Board Registration Examination (New Zealand) Exam

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A retail property has net passing rent of $160,000 per annum, but the current market net rent is assessed at $200,000 per annum. The lease is set to expire in exactly 3 years. The valuer uses the Term and Reversion method, with a term yield of 6.5% and a reversion yield of 7.5%. (The 3-year Years' Purchase / annuity factor at 6.5% is 2.6485, and the present value factor deferring the reversion 3 years at 7.5% is 0.8050.) What is the capital value of the property?
Correct Answer:
$$2,570,427

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