specialised property definition
specialised property means any non-commercial or non-residential property that cannot be categorised in any other existing category of property due to its specialised nature and/or function and use e.g., cemetery or stream
specialised property means a property which, due to its specialised nature is rarely, if ever, sold on the open market for single occupation, for a continuation of its existing use except as part of a sale of the business in occupation. Its specialised nature may arise from the construction, arrangement, size or location of the property, or a combination of these factors, or may be due to the nature of the plant and machinery, and items of equipment which the buildings are designed to house, or the function, or the purpose for which the buildings are provided. Examples of specialised properties, which are usually valued on the Depreciated Replacement Cost (DRC) basis, are: