25+ Years Evolution
Inventor starts investigating and understanding pitfalls of retail valuation.
Research of “over-rented” retail property in South Australian malls.
Paper presented at International Valuation Standards Council (IVSC) defined “Current Market Rent”; adopted by IVSC as international definition in 1999.
Market research and industry work; understand workings of retail business capital and how it is linked to property capital and analyse risk profiles of each.
Tested various analysis methods using data sets linked to key retail business and property metrics.
Present problem of over-renting property and relationship to risk at WAVO Conference in Singapore.
Link risk to gearing and analyse consequences. Presented updated findings annually, first at WAVO in Beijing, then PPC in Seoul, then WAVO in Guilin.
Bingo. An invention. The Gilbert Evaluation Methodology™ (GEM Method™) is born. Links lease of shop being leased to market evidence and industry benchmarks. Initial appraisal (an IGA Store) recommended a reduction of annual gross rent from $225,000 to $140,000; accepted at review.
Continue using/refining GEM Method™ in Australian Lease & Property Consultants business.
Present paper revisiting effects of misplaced capital resulting from non-market rents at ASRES 2013 on Gold Coast.
Refine GEM Method™ (GEM™) to link Profits Method analysis of lease being evaluated to Comparison Method on same data series in four of six GEM™ analysis steps.
Continue testing methodology for butchers, coffee shops, pharmacies, fruit and veg, supermarkets, convenience shops, franchised book shops, with good outcomes.
Present paper about benefits and pitfalls of existing retail lease valuation methodologies at 2017 PRRES in Sydney. November marked the start of development of the commercial, “scalable” version of GEM Method™ analysis process. Developed working software application and advanced specification for commercial product.
Introduce GEM Method™ in Singapore (IVSC, WAVO) and Bucharest (IVSC, ANEVAR). Separate paper shows how GEM™ works to analyse market rent and geared property models. Visit RICS London to explain benefits of GEM Method™.
Selected GeneXus development platform and QLD-based GeneXus developer to implement initial commercial version of GEM Lease Analitics™ software. (see www.genexus.com for impressive client list).
Show results achieved with working software model of GEM Method™ at PRRES / API conference in Canberra
3D Retail Economics launches v1.0 of GEM Lease Analytics™
GEM Lease Analytics™ v1.1 and V2.0 already under development with many future versions mapped out.