Article

Crosby, N. and Hordijk, A. (2024) The implementation of long-term prudent valuation models across the UK and Mainland Europe for financial regulation purposes. Journal of Property Research. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2024.2311690

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Lizieri, C. M. and Mansley, N. (2022) Modelling sustainable rents for estimation of long-term or fundamental values of commercial real estate. Journal of Property Research, 39 (1). pp. 30-55. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2021.1913441

Crosby, N. (2021) Prudent or “long-term” property valuations: concepts, definitions and methods. Housing Finance International, 36 (2). pp. 31-39. ISSN 2078-6328

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729 (2020) Performance metrics and required returns for UK real estate development schemes. Journal of Property Research, 37 (2). pp. 171-193. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2020.1720269

Crosby, N. (2019) Development viability assessment and the provision of affordable housing. A game of “pass the parcel”? Town Planning Review, 90 (4). pp. 407-428. ISSN 1478-341X doi: https://doi.org/10.3828/tpr.2019.27

Crosby, N. and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729 (2019) What is a ‘competitive return’ to a landowner? Parkhurst Road and the new UK planning policy environment. Journal of Property Research, 36 (4). pp. 367-386. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2019.1690028

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Lizieri, C. and McAllister, P. (2018) Can institutional investors bias real estate portfolio appraisals? Evidence from the market downturn. Journal of Business Ethics, 147 (3). pp. 651-667. ISSN 1573-0697 doi: https://doi.org/10.1007/s10551-015-2953-1

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729 (2018) The implied internal rate of return in conventional residual valuations of development sites. Journal of Property Research, 35 (3). pp. 234-251. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2018.1457070

Crosby, N. and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729 (2016) Financial viability appraisals for site-specific planning decisions in England. Environment and Planning C: Government and Policy, 34 (8). pp. 1716-1733. ISSN 1472-3425 doi: https://doi.org/10.1177/0263774X16636118

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Nanda, A. (2016) Which factors drive rental depreciation rates for office and industrial properties? Journal of Real Estate Research, 38 (3). pp. 359-392. ISSN 0896-5803

Crosby, N. and Henneberry, J. (2016) Financialisation, the valuation of investment property and the urban built environment in the UK. Urban Studies, 53 (7). pp. 1421-1441. ISSN 1360-063X doi: https://doi.org/10.1177/0042098015583229

Crosby, N., Jackson, C. and Orr, A. (2016) Refining the real estate pricing model. Journal of Property Research, 33 (4). pp. 332-358. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2016.1237539

Coleman, C., Crosby, N., McAllister, P. and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729 (2013) Development appraisal in practice: some evidence from the planning system. Journal of Property Research, 30 (2). pp. 144-165. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2012.750620

Crosby, N., McAllister, P. and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729 (2013) Fit for planning? An evaluation of the application of development viability appraisal models in the UK planning system. Environment and Planning B: Planning and Design, 40 (1). pp. 3-22. ISSN 1472-3417 doi: https://doi.org/10.1068/b37181

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Law, V. (2012) Rental depreciation and capital expenditure in the UK commercial real estate market, 1993–2009. Journal of Property Research, 29 (3). pp. 227-246. ISSN 1466-4453 doi: https://doi.org/10.1080/09599916.2012.679009

Hughes, C. and Crosby, N. (2012) The challenge of self-regulation in commercial property leasing: a study of lease codes in the UK. International Journal of Law in the Built Environment, 4 (1). pp. 23-44. ISSN 1756-1450 doi: https://doi.org/10.1108/17561451211211723

Yuo, T. S.-T. , Lizieri, C., McCann, P. and Crosby, N. (2011) Rental values in UK shopping malls. Urban Studies, 48 (8). pp. 1667-1679. ISSN 1360-063X doi: https://doi.org/10.1177/0042098010371391

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Law, V. (2011) Benchmarking and valuation issues in measuring depreciation for European office markets. Journal of European Real Estate Research, 4 (1). pp. 7-28. ISSN 1753-9269 doi: https://doi.org/10.1108/17539261111129443

Crosby, N. and Hughes, C. (2011) The basis of valuations for secured commercial property lending in the UK. Journal of European Real Estate Research, 4 (3). pp. 225-242. ISSN 1753-9269 doi: https://doi.org/10.1108/17539261111183425

Crosby, N., Lizieri, C. M. and McAllister, P. M. (2010) Means, motive and opportunity? Disentangling client influence on performance measurement appraisals. Journal of Property Research, 27 (2). pp. 181-201. ISSN 0959-9916 doi: https://doi.org/10.1080/09599916.2010.499014

Crosby, N. and Hughes, C. (2009) Kept out of reach. Estates Gazette (929). pp. 92-93. ISSN 0014-1240

Crosby, N., Murdoch, S. and Webb, E. (2008) Landlords and tenants behaving badly? The application of unconscionable and unfair conduct to commercial leases in Australia and the United Kingdom. The University of Western Australia Law Review, 33 (2). pp. 207-250.

Crosby, N. (2007) Australian and UK small business leases — what can we learn from each other? Australian Property Law Journal, 14 (3). pp. 297-315. ISSN 1038-5959

Crosby, N. (2007) Awareness and protection of small business tenants in Australia and the UK - could the approach be any more different? Australian and New Zealand Property Journal, 1. pp. 91-98. ISSN 1836-6635

Crosby, N., Hughes, C. and Murdoch, S. (2006) Exit strategies for business tenants. Journal of Property Research, 23 (3). pp. 215-235. ISSN 1466-4453 doi: https://doi.org/10.1080/09599910600933848

Crosby, N., Hughes, C. and Murdoch, S. (2006) Flexible property leasing and the small business tenant. Journal of Property Research, 23 (2). pp. 163-188. ISSN 1466-4453 doi: https://doi.org/10.1080/09599910600800518

Crosby, N. (2005) Direct investment in commercial real estate. Pacific Rim Property Research Journal, 11 (2). pp. 118-135. ISSN 1444-8921

Crosby, N., Hughes, C., Lizieri, C. and Oughton, M. (2005) A message from the Oracle: the land use impact of a major in-town shopping centre on local retailing. Journal of Property Research, 22 (2-3). pp. 245-265. ISSN 1466-4453 doi: https://doi.org/10.1080/09599910500453848

Crosby, N. (2003) Accounting for leases – the problem of rent reviews in capitalising lease liabilities. Journal of Property Investment and Finance, 21 (2). pp. 79-108. ISSN 1463-578X doi: https://doi.org/10.1108/14635780310469094

McAllister, P., Baum, A., Crosby, N., Gallimore, P. and Gray, A. (2003) Appraiser behaviour and appraisal smoothing: some qualitative and quantitative evidence. Journal of Property Research, 20 (3). pp. 261-280. ISSN 1466-4453 doi: https://doi.org/10.1080/0959991032000162347

Adair, A., Crosby, N., Lim, L.C. and Watkins, C. (2003) The contribution of the RICS Cutting Edge Conference to commercial real estate research. Journal of Property Research, 20 (1). pp. 91-115. ISSN 1466-4453 doi: https://doi.org/10.1080/0959991032000051980

Adair, A., Crosby, N., Lim, L. and Watkins, C. (2002) Valuation of property assets: an international research agenda. Pacific Rim Property Research Journal, 8 (2). pp. 84-93. ISSN 1444-8921

Dixon, T., Crosby, N., Marston, A. and Pottinger, G. (2002) Can valuation factors be prescribed? The case of collective enfranchisement and leasehold extension of flats in England and Wales. Journal of Property Research, 19 (3). pp. 253-280. ISSN 1466-4453 doi: https://doi.org/10.1080/0959991022000016269

Dixon, T. ORCID: https://orcid.org/0000-0002-4513-6337, Crosby, N., Marston, A. and Pottinger, G. (2002) Can valuation factors be prescribed? The case of collective enfranchisement and leasehold extension of flats in England and Wales. Journal of Property Research, 19 (3). pp. 253-280. ISSN 1466-4453

Crosby, N., Murdoch, J. and Lavers, A. (2002) Expert valuation witnesses in the UK – problems and solutions. Journal of Property Investment and Finance, 20 (4). pp. 316-353. ISSN 1463-578X doi: https://doi.org/10.1108/14635780210435038

Crosby, N., French, N. and Oughton, M. (2000) Bank lending valuations on commercial property: does mortgage lending value add anything to the process. Journal of Property Investment and Finance, 18 (1). pp. 66-83. ISSN 1463-578X doi: https://doi.org/10.1108/14635780010316663

Dixon, T. J. ORCID: https://orcid.org/0000-0002-4513-6337, Crosby, N. and Law, V. K. (1999) A critical review of methodologies for measuring rental depreciation applied to UK commercial real estate. Journal of Property Research, 16 (2). pp. 153-180. ISSN 1466-4453

Book or Report Section

Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2019) Appraisal-based indices. In: MacGregor, B. D., Schulz, R. and Green, R. K. (eds.) Routledge Companion to Real Estate Investment. Routledge, Abingdon, pp. 172-191. ISBN 9781138020788

Crosby, N., Hutchison, N., Lusht, K. and Yu, S. M. (2018) Valuations and their importance for real estate investments. In: MacGregor, B. D., Schulz, R. and Green, R. K. (eds.) Routledge Companion to Real Estate Investment. Routledge, Abingdon. ISBN 9781138020788

Crosby, N. and Henneberry, J. (2017) Valuation and the evolution of new uses and buildings. In: Henneberry, J. (ed.) Transience and permanence in urban development. RICS Research Trust Real Estate Issues. Wiley Blackwell, Oxford, pp. 189-198. ISBN 9781119055655

Crosby, N. and McAllister, P. (2004) Deconstructing the transaction process: an analysis of fund transaction data. In: Lizieri, C. (ed.) Liquidity in Commercial Property: Research Findings. Investment Property Forum, London, pp. 22-39.

Report

Crosby, N. and Hordijk, A., (2021) Approaches for prudent property valuations across Europe. Report. University of Reading, Reading. pp89.

Crosby, N., (2021) Assessing viability in planning under the National Planning Policy Framework 2019 for England. Guidance Note. Report. Royal Institution of Chartered Surveyors, London. ISBN 9781783214129

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Lizieri, C. M., Mansley, N. and Wang, Z., (2020) Long-term value methodologies in commercial real estate lending - main report. Long-term value methodologies and real estate lending. Report. Investment Property Forum, London. pp122.

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Lizieri, C. M., Mansley, N. and Wang, Z., (2020) Long-term value methodologies in commercial real estate lending - appendices. Report. Investment Property Forum, London.

Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, (2020) Long-term value methodologies in commercial real estate lending : comparison of property market indices. Report. Investment Property Forum, London.

Crosby, N. and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2019) Valuation of development property. Report. Royal Institution of Chartered Surveyors, London. pp59. ISBN 9781783213719

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2019) Performance metrics, required returns and achieved returns for UK real estate development. Project Report. Royal Institution of Chartered Surveyors

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2018) Residual land values: measuring performance and investigating viability. IPF Research Programme Major Report. Report. Investment Property Forum, London. pp56.

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2017) The implied internal rate of return in conventional residual valuations of development sites. Working Papers in Real Estate & Planning. 03/17. Working Paper. University of Reading, Reading. pp14.

Carduso, C., Crosby, N., McTique, J. and Clarke, R., (2017) Long term value methodologies and real estate lending. Report. Investment Property Forum/CREFC Europe, London. pp28.

Sayce, S., Crosby, N., Garside, P., Harris, R. and Parsa, A., (2017) Viability and the planning system: the relationship between economic viability testing, land values and affordable housing in London. Project Report. Royal Agricultural University, Cirencester.

Crosby, N. and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2015) Financial viability appraisals for site-specific planning decisions in England. Working Papers in Real Estate & Planning. 03/15. Working Paper. University of Reading, Reading. pp30.

Crosby, N. and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2015) Financial viability appraisal in planning decisions: theory and practice. Project Report. RICS Research Trust, London.

Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, (2013) Constructing an effective rental value index. Short Paper. 18. Report. Investment Property Forum, london.

Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, (2011) Depreciation of commercial investment property in the UK. Report. Investment Property Forum, london. pp28.

Crosby, N. and Hughes, C., (2011) The basis of valuations for secured commercial property lending in the UK. Working Papers in Real Estate & Planning. 09/11. Working Paper. University of Reading, Reading. pp38.

Crosby, N., McAllister, P. and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2010) Fit for planning? An evaluation of the application of development viability appraisal models in the UK planning system. Working Papers in Real Estate & Planning. 10/10. Working Paper. University of Reading, Reading. pp39.

Hughes, C. and Crosby, N., (2010) Policy making without legislating: the self-regulation of commercial property leasing. Working Papers in Real Estate & Planning. 06/10. Working Paper. University of Reading, Reading. pp22.

Crosby, N. and Hughes, C., (2009) Monitoring the 2007 Code for leasing business premises. Regeneration and economic growth. 09ACST0599. Report. Department for Communities and Local Government, London. pp56. ISBN 9781409815578

Crosby, N., Lizieri, C. and McAllister, P., (2009) Means, motive and opportunity? Disentangling client influence on performance measurement appraisals. Working Papers in Real Estate & Planning. 09/09. Working Paper. The University of Reading, Reading. pp24.

Crosby, N., (2007) German open ended funds: was there a valuation problem? Working Papers in Real Estate & Planning. 05/07. Working Paper. University of Reading, Reading. pp15.

Crosby, N., (2007) Small business legislation in Australia: does it provide a solution to part of the UK lease reform debate? Working Papers in Real Estate & Planning. 03/07. Working Paper. University of Reading, Reading. pp19.

Crosby, N., (2007) The market for retail tenancy leases in Australia. Discussion Paper. University of Reading, Reading. pp24. (Unpublished) (submission to Productivity Commission of the Australian Government)

Crosby, N., (2007) The use of periodic valuations in indirect property investment. IPF research programme. Report. Investment Property Forum, London. pp13.

Crosby, N., (2006) Commercial lease reform in the UK: can we learn anything from Australia about the awareness of small business tenants? Findings in built and rural environments. Report. Royal Institution of Chartered Surveyors, London. pp8.

Crosby, N. and Devaney, S., (2006) Depreciation and its impact on the total return of UK commercial real estate, 1994-2003. Working Papers in Real Estate & Planning. 05/06. Working Paper. University of Reading, Reading. pp24.

Crosby, N., Hughes, C. and Murdoch, S., (2006) Exit strategies for business tenants. Working Papers in Real Estate & Planning. 03/06. Working Paper. University of Reading, Reading. pp23.

Crosby, N., (2006) Small business lease reform - can the UK learn from the Australian experience? Working Papers in Real Estate & Planning. 14/06. Working Paper. University of Reading, Reading. pp17.

Crosby, N., (2006) An evaluation of the policy implications for the UK of the approach to small business tenant legislation in Australia. Report. The Education Trusts of the Royal Institution of Chartered Surveyors and the Investment Property Forum, London.

Baum, A., Callender, M., Crosby, N., Devaney, S., Law, V. and Westlake, C., (2005) Depreciation in commercial property markets. Report. Investment Property Forum, London:. pp104.

Crosby, N., Hughes, C. and Murdoch, S., (2005) Monitoring the 2002 code of practice for commercial leases - final report. Regeneration and economic growth. Report. Department of Communities and Local Development, London. pp480. ISBN 1851127771

Crosby, N., Hughes, C. and Murdoch, S., (2005) Are property agents to blame for upward only rent reviews? Working Papers in Real Estate & Planning. 25/05. Working Paper. University of Reading, Reading. pp18.

Crosby, N., Hughes, C. and Murdoch, S., (2005) Do small business tenants need protecting in commercial lease negotiations? Working Papers in Real Estate & Planning. 22/05. Working Paper. University of Reading, Reading. pp21.

Crosby, N., Hughes, C., Lizieri, C. and Oughton, M., (2005) Messages from the Oracle: assessing the impact of major in-town shopping centres. Working Papers in Real Estate & Planning. 29/05. Working Paper. University of Reading, Reading. pp20.

Bond, S., Crosby, N., Hwang, S., Key, T., Lizieri, C., Matysiak, G., McAllister, P. and Ward, C. W. R., (2004) Liquidity in commercial property markets. Report. Investment Property Forum pp116.

Crosby, N., Hughes, C. and Murdoch, J., (2004) Influences on secured lending property valuations in the UK. Working Papers in Real Estate & Planning. 04/04. Working Paper. University of Reading, Reading. pp25.

Crosby, N., Hughes, C. and Murdoch, J., (2004) Influences on secured lending property valuations in the UK. Working Papers in Real Estate & Planning. 14/04. Working Paper. University of Reading, Reading. pp26.

Crosby, N. and McAllister, P., (2004) Liquidity in commercial property markets: deconstructing the transaction process. Working Papers in Real Estate & Planning. 07/04. Working Paper. University of Reading, Reading. pp25.

Yuo, T. S.-T., Crosby, N., Lizieri, C. M. and McCann, P., (2004) Tenant mix variety in regional shopping centres: some UK empirical analyses. Working Papers in Real Estate & Planning. 02/04. Working Paper. University of Reading, Reading. pp29.

Crosby, N., Murdoch, S., Hughes, C. and Mubanga, Y., (2004) The status of property valuations. ESRC, London. pp63.

Oughton, M., Crosby, N., Lizieri, C. M. and Palmer, S., (2003) The local economic impact of regional in-town shopping centres. Report. Royal Institution of Chartered Surveyors, London. pp136.

Crosby, N., Devaney, S., Key, T. and Matysiak, G., (2003) Valuation accuracy: reconciling the timing of the valuation and sale. Working Papers in Real Estate & Planning. 06/03. Working Paper. University of Reading, Reading. pp17.

Yuo, T.S.-T., Crosby, N., Lizieri, C. M. and McCann, P., (2003) The management of positive inter-store externalities in shopping centres: some empirical evidence. Working Papers in Real Estate & Planning. 10/03. Working Paper. University of Reading, Reading. pp22.

Baum, A., Crosby, N., Gallimore, P., Gray, A. and McAllister, P., (2002) Appraiser behaviour and appraisal smoothing: some qualitative and quantitative evidence. Working Papers in Land Management and Development. 04/02. Working Paper. Reading University, Reading. pp28.

Dixon, T. ORCID: https://orcid.org/0000-0002-4513-6337, Pottinger, G., Marston, A. and Crosby, N., (2000) Relative values: residential leasehold reform in England and Wales - valuation of lease extension and enfranchisement. Project Report. CEM Reading, CEM Reading. ISBN 1899769722

Crosby, N., Lavers, A. and Foster , H., (1997) Commercial property loan valuations in the UK : implications of current trends in practice and liability. Working Papers in Land Management & Development. 02/97. Working Paper. University of Reading, Reading. pp37.

Crosby, N., Lavers, A. and Foster , H., (1997) Commercial property loan valuations in the UK : the changing landscape of practice and liability. Working Papers in Land Management & Development. 01/97. Working Paper. University of Reading, Reading. pp34.

Crosby, N., Lavers, A. and Murdoch, J., (1997) Contributory negligence involving overseas European banks in property valuation negligence cases in the UK. Working Papers in Land Management & Development. 04/97. Working Paper. University of Reading, Reading. pp38.

Book

Baum, A. E., Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2021) Property investment appraisal. 4th edition. Wiley-Blackwell, pp320. ISBN 9781118399552

Baum, A. E. and Crosby, N. (2007) Property investment appraisal. 3rd edition. Wiley, pp328. ISBN 9781405135559