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Rack rent: The rent that represents the full open market annual value of a holding.
Redemption yield: The rent that represents the full open market annual value of a holding.
Redevelopment: Development of land which entails or follows the removal of all or most of the already existing buildings or structures.
Rent review: A provision in a lease whereby the amount of the rent is reconsidered at stated intervals (often every five years). The method and procedure for reviewing the rent are outlined in the lease.
Rental growth: The rate of growth, over a specified period, of the estimated rental value (ERV) of a property.
Retail sector (property): Sector of commercial property including high street shops, shopping centres and retail warehouses.
Retail warehouse: A retail store selling non-food goods occupying a warehouse. These are usually situated out of town, and are either solus (single) units or comprise several units in an open format, not under one roof.
Return: The amount by which an investment may change due to a combination of capital growth and/or interest dividend income. This is normally expressed as a percentage.
Revenue profit: Profit before tax, excluding the impact of exceptional costs or profits including bid costs, FRS3 profits, interest charges on termination of financial instruments and group reorganisation costs.
Reversion: The process by which a right in a property transferred by a deed of trust, mortgage or pledge, etc., is returned to the original owner after the interest held by others on the property is exhausted.
Reversionary rent/income: A change in income that which will arise following a rent review or renewal of a lease or re-letting of a property.
Reversionary yield: In a valuation for a term and reversion, the discount rate applied to the reversionary income.
Rights issues: Further issue of shares by an existing company to raise funds. Shares are offered to existing shareholders who can sell the right on to other people.
Risk: Degree of uncertainty of return on an asset.
Risk/return factor: The relationship between an investment’s growth potential and its exposure to loss.
RSL: Registered Social Landlord.