Retail property valuation is an intricate and complex undertaking. The details in terms of size, types and characteristics of a shopping centre as well as the fact that it consists of many separate units (shops) managed as a single property require detailed attention and comprehensive knowledge. Another challenge faced is that these types of properties change and develop more rapidly than any other type of property, thus requiring detailed market knowledge and forecasting. A valuer must also take into account both the macro and micro location, competitive schemes, catchment area, absorption and vacancies, the centre management, layout, design and functionality of the property, and must be able to effectively analyse the lease agreements, anchor tenants and tenant mix relevant to the centre to be able to determine a realistic and accurate value of the shopping centre property.