SCAM

Speculative Cultural Asset Management. An incubator that uses real estate to undo real estate.

TypeDe-debtingCultural TenancyAdaptive ReuseCommoningCounter-ValuationStewardship Transfer
00

Valuation & Analysis

We value buildings whose worth depends on who is inside them, and we refuse the single number. Every appraisal states its assumptions in the open, prices the market case honestly, and sets a use-value account beside it. The gap between the two is what the market is planning to take.

CSAM working notes and calculations from a valuation session
01

Scope

V/01
Market value
Comparables, income and residual approaches on the fabric as it stands — stated plainly, so it can be argued with.
V/02
Use value
Care, maintenance, reproductive labour and unbilled hours entered as assets rather than externalities.
V/03
Arbitrage exposure
Where the building is legible to automated repricing, and which of those handles can be removed.
V/04
Tenure security
Use-restricted and hereditary leases, self-administration capacity, dependency on subsidy.
V/05
De-debting path
How the ground is cleared of debt, and who is liable if it is not.
V/06
Stewardship routes
Foundation transfer, cooperative purchase, community land trust — instead of an exit.
02

Terms

Turnaround

10 working days from site access.

Basis

Fixed scope agreed up front. No success fee, no agency mandate, no carried interest. Free for tenants and user groups facing a sale.

Output

Two models, one call, and a public record. Numbers you can defend in a negotiation you did not ask for.

Request a counter-valuation