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Glossary
 
 
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Capitalisation 1. At a given date the conversion into the equivalent capital worth of a series of net receipts, actual or estimated, over a period.

Capitalisation 1. At a given date the conversion into the equivalent capital worth of a series of net receipts, actual or estimated, over a period.

2. A method of calculating a final purchase price for a development using an agreed formula to convert actual, or assumed, income from initial lettings into a capitalism. Such capitalised sums may be offset against a purchasing fund's interim finance payments, any excess being paid to the developer.

3. In relation to a company's reserves, the conversion into capital of money, which is then distributed as a capitalisation issue.

Catchment area 1. The area of land from which finds its way into a particular watercourse, lake or reservoir.

2. By analogy, the area which contains those people who can be expected to obtain goods, services, employment or other benefits from a particularly property. More especially related to retail premises, where the success of forecasting depends on the accuracy of estimating the number of purchasers (catchment population) likely to be attracted from the different parts of the area and the average expenditure which might be expected from them.

Central business district The functional centre around which the rest of a city is comparison shopping, office accommodation, leisure facilities, buildings for recreational use, public museums, art galleries and governmental functions. Generally the area of highest land values within a city.

Clearance area An area which is to be cleared of all buildings. Generally promulgated by way of a government declaration, which is normally followed by the acquisition of the land and the clearance of the area.

Completion certificate/statement 1. (UK) statement prepared by solicitors, usually those acting for a purchaser and a vendor respectively, following the conveyance of an interest in property, giving a schedule of sums received leading to a balance being the final amount due to the vendor. In some case the statement is prepared at a later date and may show a figure recoverable by the purchaser from the vendor.

2. A certificate issued by the local development authority certifying that all necessary works have been completed and that the property is fit for occupation.

Condominium (USA) A building or a structure of two or more units, the interior space of the individually owned and the balance of the property (both land and building) being owned in common by the owners of the individual units.

Conveyance A document transferring title to land from one person to another.

Current yield The remunerative rate of interest which is, or would be, a appropriate at the date of valuation, assuming the property to be let at its full rental value. It will be the same as the reversion yield where the reversion is to full rental value, and the same as the term yield where the rent receivable under the lease is full rental value.

 
 
 
 
 
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