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Professor Neil Crosby

Professor of Real Estate

Neil Crosby 75e5pfioc


  • Property valuation, 
  • Commercial leases


EM 160, Whiteknights Campus

Neil has been Professor of Real Estate at the University of Reading since 1994 having been previously Reader/Professor at Oxford Brookes and lecturer at Reading and Nottingham Trent Universities. Before that he was a practising valuation surveyor in a combined residential and commercial property consulting firm based in the UK where he qualified as a Chartered Valuation Surveyor in 1975.

Neil specialises in commercial property appraisal and the commercial Landlord and Tenant relationship and over the last 30 years has undertaken a series of major research studies funded by the UK Central and Local Government and the UK property industry into aspects of commercial lease regulation, valuation methods, client influence on valuations, depreciation, liquidity, effective and headline rental value indices, capitalisation rates, development viability and long term valuation.

Neil has given keynote addresses to major academic and professional conferences including the World Valuation Congress in 1999, the European Real Estate Society in 2014 and the Pacific Rim Real Estate Society in 2000, 2005 and 2014. In 2002 he was awarded the International Real Estate Society’s annual achievement award for his work in real estate research, education and practice and in 2014 was awarded the European Real Estate Society’s annual achievement award. His industry based activity includes current membership of the RICS Valuation Standards Board and past membership of the Consultative Committee of the Investment Property Databank and the Management Board of the Investment Property Forum. He was elected an Honorary Fellow of the Society of Property Researchers in 2014 and a Life Member of the Investment Property Forum in 2017.

In 2001 and 2008, Neil was a member of the UK Research Assessment Exercise sub-panel assessing the UK real estate academic output for the UK Government and is currently a member of the Research Excellence Framework sub-panel for the 2021 exercise. He sits on a number of academic journal Editorial Boards. He has published well over 100 papers on the various topics listed above and the third edition of his textbook on Property Investment Appraisal with Andrew Baum was published in 2007 with a 4th edition due out in 2018/19.


  • PhD 1985
  • MRICS 1975

Long Term Value Methodologies in Real Estate Lending Analysis – Phase 2 project funded by the Investment Property Forum (with University of Cambridge) - £93,100

The Implicit Pricing of Property Attributes. RICS Education Trust 2012-2014 (with Jackson, Sheffield: Orr, Glasgow) - £7,500

Depreciation of UK and European Commercial Investment Property – 4 separate funded projects by the Investment Property Forum between 2004 and 2013 (with Devaney, Baum, Law, Nanda) – Circa £100,000+.

Monitoring the three separate UK Codes of Practice for Leasing Business Premises – 3 separate projcts funded by the UK Government (DETR, ODPM, CLG) between 1998 and 2009 (with Hughes, S. Murdoch, Markwell) – Circa £275,000.

The Status of Property Valuations – ESRC, February 2002 to May 2004 - £112,000 (with J. Murdoch).