The valuation
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This example is of a similar golf course to the previous example, but with sales of £700,000, and ANOP of £100,000, due to poor management.
Forecasts have been produced showing sales increasing to £800,000 (ANOP £150,000) in year one; £900,000 (ANOP £200,000) in year two; £1m (FMOP £250,000) in year three;...
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