A response to the IASB's Exposure Draft 2009/5 Fair Value Measurements, stated:

In practical terms we doubt that an asset measured on any other basis than its intended use will provide more useful information to readers.

The fact that, say, a site used for production would have a higher market value if it were redeveloped for retail purposes, is not relevant if the entity is not engaged in retail or, more obviously, needs the site in order to carry out its production operations.

The risk here is that the fair value measure, as redefined, results in irrelevant information.

Required Discuss the issues associated with measuring the fair value of a site currently used for production, but which could be redeveloped for retail purposes.