ORCID Profile
0000-0002-4992-7531
Current Organisations
Ulster University - Jordanstown Campus
,
University of South Australia
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Publisher: Informa UK Limited
Date: 10-1979
Publisher: Emerald
Date: 05-2006
DOI: 10.1108/14635780610659928
Abstract: This paper seeks to assess issues of data and the extent to which property markets are becoming more transparent in Central and Eastern Europe, discussing stages in the transformation and evolution of markets with reference to sources of real estate information. Current perspectives on data sharing and drivers for change in Central and Eastern Europe draw on evidence from structured interviews with key market players in the region. This is supported by a consideration of secondary data sources. The analysis indicates that information on stock characteristics, notably offices, has developed since the start of the 1990s but there remains an absence of performance benchmarking in the investment market. Conclusions highlight the significant process of change but identify the need for property investment markets to be more accurately measured and tracked. Limitations arise from data, in particular restricted time series data, lack of disclosure of data due to their intrinsic value, the perceived benefit of holding a competitive advantage and issues arising from the compatibility between various data sources. The paper considers the relationship between the availability of market data and the development of properly functioning markets in Central and Eastern Europe the attributes that have encouraged the development, availability and effective use of property market data and the impacts of data availability on patterns of property market development in Central and Eastern Europe.
Publisher: Emerald
Date: 12-01-2023
DOI: 10.1108/JERER-05-2021-0029
Abstract: The London office market is a major destination of international real estate capital and arguably the epicentre of international real estate investment over the past decade. However, the increase in global uncertainties in recent years due to socio-economic and political trends highlights the need for more insights into the behaviour of international real estate capital flows. The purpose of this study is to evaluate the influence of the global and domestic environment on international real estate investment activities within the London office market over the period 2007–2017. This study adopts an auto-regressive distributed lag approach using the real capital analytics (RCA) international real estate investment data. The RCA data analyses quarterly cross-border investment transactions within the central London office market for the period 2007–2017. The study provides insights on the critical differences in the influence of the domestic and global environment on cross-border investment activities in this office market, specifically highlighting the significance of the influence of the global environment in the long run. In the short run, the influence of factors reflective of both the domestic and international environment are important indicating that international capital flows into the London office market is contextualised by the interaction of different factors. The authors provide a holistic study of the influence of both the domestic and international environment on cross-border investment activities in the London office market, providing more insights on the behaviour of global real estate capital flows.
Publisher: Emerald
Date: 04-2004
DOI: 10.1108/14635780410536160
Abstract: Regeneration concerns the physical and economic renewal of locations with development and investment in property a fundamental part of the process and product. Considers the case of Dublin, where designated areas, including the dock‐lands, have been stimulated by taxation breaks within a structure‐agency model. These mechanisms are initially reviewed to provide a context in which the property market has been operating. Focuses on the performance of office property in Dublin and compares rental return evidence for the city centre market with that for the International Financial Services Centre, one of the original designated renewal areas in the dock‐lands. Conclusions focus on how taxation breaks can be used to create new office locations and how the regeneration market can become tax‐driven with dual structures existing between urban regeneration areas and the prime market.
Publisher: Informa UK Limited
Date: 09-2000
Publisher: Emerald
Date: 21-07-2021
DOI: 10.1108/JPIF-02-2020-0023
Abstract: Office markets and particularly international financial centres over the past decade have experienced rapid financialisation, developments and indeed changes in the post-global financial crisis (GFC) landscape. Importantly, the volume and types of international capital flows have witnessed more foreign actors and vehicles entering into the investment landscape with the concentration of investment intensifying within key financial centres. This paper examines the interaction of international real estate capital flows in the London, New York and Tokyo office markets between 2007 and 2017. Using Real Capital Analytics (RCA) data comprising over 5,700 office property transactions equating to $563bn between 2007 and 2017, the direct global capital flows into the London, New York and Tokyo office markets are assessed using an autoregressive distributed lag (ARDL) approach. Further, Granger causality tests are examined to analyse the short-run interaction of international real estate capital flows into these three major office markets. By assessing the relativity of internal to external investments in these three central business district (CBD) office markets, differences in market dynamics are highlighted. The London office market is shown to be highly dependent on international flows and the USA, the foremost source of cross-border investment on the global stage. The cointegration and causality analysis indicate that cross-border real estate investment flows in these markets (and financial centres) show both long- and short-run relationships and suggest that the London office market remains more distinct and the most reliant on international capital flows with a wider geographical spread of investment activities and investor types. In the case of New York and Tokyo, these markets appear to be driven by more domestic investment activity and capital seemingly due to subtle factors pertaining to investor home bias, risk aversion and ersification strategies between the markets in the aftermath of the GFC. Given the importance of the CBD offices in London, New York and Tokyo as an asset class for institutional investors, this paper provides some insights as to their level of connection and the interaction of the international capital flows into these three major cities.
Publisher: SAGE Publications
Date: 22-10-2018
Abstract: Research applying residential property value as a socioeconomic status measure is increasing. The literature includes several measures of residential property value socioeconomic status, all of which highlight location as an important component. This paper examines the drivers of the location component of residential property value that form the basis of its application as a socioeconomic status measure. The metropolitan area of Adelaide, South Australia, is used as a study area to analyse the composition and context embodied in residential property location value. The focus of this paper is to provide an understanding of the drivers of residential property value calculated as the relative location factor, deliberately constructed to reflect the effect on value due to location. The analysis reduced the traditional composition measures of social structure into a smaller number of factors using principal component analysis and regressed these against relative location factor. A spatial lens was applied to the results using Moran’s I to visualise the composition and context influence embodied in relative location factor. The results provided a significantly enhanced understanding of both the composition and context of socioeconomic status wealth that may be a more suitable socioeconomic status measure than the traditional composition measures of income, education and occupation. This paper provides an original interpretation of the contribution and use of residential property location value enabling a broader understanding of socioeconomic status, concluding that relative location factor provided a more informed measure of socioeconomic status, capable of enhancing social science and health research and policy formation.
Publisher: Emerald
Date: 07-2006
DOI: 10.1108/14635780610674525
Abstract: The paper aims to contribute to the understanding of the current valuation practices and services offered across Asia, in particular the valuation techniques and methodology used by practising valuers in Hong Kong. In order to gain professional opinions and an in‐depth understanding of Hong Kong valuation service providers, the methods and concepts used, and the extent of involvement with Chinese clients and businesses, the paper reports the findings of interviews with major real estate valuation firms and a survey of in idual valuers involved in the appraisal of properties in Hong Kong and China. The results show that there are significant differences between the strategic management and the operational level across several facets of the valuation process in Hong Kong and China. The paper contributes to an understanding of behavioural influences within valuation. The main limitation is the restriction of the survey on Hong Kong‐based valuers. Further research will widen evidence to valuers based in mainland China. This paper presents the results of original empirical research utilising data drawn from interviews and survey questionnaires. The value of the work lies in the analysis of the strategic overview of the organisation, management and operation of appraisal practice in Hong Kong.
Publisher: Emerald
Date: 26-10-2010
DOI: 10.1108/17539261011094713
Abstract: The purpose of this paper is to assess the robustness of capital flows into European commercial property markets during the global financial crisis (GFC) – over 2007‐2008 particularly highlighting differences between the developed and developing European markets. Using the Real Capital Analytics database of over 49,000 commercial property transactions valued at over $1.5 trillion in 2007‐2008, the robustness of capital flows into the European commercial property markets is assessed during the GFC. The impact of the GFC on capital flows is assessed in both a regional context and global context, as well as between the developed and developing markets in Europe. This paper assesses the robustness of the capital flows into the commercial property markets in Europe over 2007‐2008. Clear differences emerge regarding the relative impact in Europe in a regional and global context, as well as between the developed and developing European markets. The results highlight the robustness, stature and significant relative contribution of capital flows into the European commercial property markets across a range of property investment characteristics during the GFC. Given the importance of commercial property as an asset class for institutional investors, this paper assesses the robustness of capital flows into the commercial property markets in Europe. By embedding this in a regional and global context, the robustness, stature, relative impact and significant contribution by European commercial property markets in the uncertainty and volatility of the environment of the global financial crisis is articulated for global property investors. Clear differences between the developed and developing markets in Europe are identified. Using over 49,000 commercial property transactions, this paper is the first attempt to rigorously and empirically assess the robustness of capital flows into global commercial property markets, with a specific focus on the European commercial property markets during this unique international event of the GFC. Given the significance of commercial property as an institutional asset class, this empirically validated research enables a more informed and critical understanding of the impact of the GFC on capital flows into the commercial property markets in Europe, as well as identifying global property investor considerations regarding the ongoing significance for capital flows in their commercial property investment strategies in Europe and globally.
Publisher: SAGE Publications
Date: 2014
DOI: 10.1068/C12221B
Abstract: Urban regeneration has increasingly emphasised long-term policy objectives and public—private partnership arrangements where risk and profits are more equitably distributed between the parties. Similarly, successive governments have endorsed area-based regeneration vehicles with increasing importance placed on enterprise zones, business improvement districts (BIDs), tax incremental finance, and other local asset backed vehicles. Each regeneration vehicle necessitates a clear policy direction and performance measurement of its policy outputs to ensure that funding is targeted at initiatives delivering sustainability impacts. This paper presents a ‘market’ and ‘nonmarket’ appraisal of the financial impact of BIDs as an area-based regeneration vehicle. It utilises data from a UK-wide survey to demonstrate the potential of BIDs in generating direct income and indirect investment and how the output capacity of the BID model increases over time. The paper concludes that BIDs have significant leverage potential whilst acting as a key conduit for coordinating wider area-based regeneration.
Publisher: Informa UK Limited
Date: 2013
Publisher: Elsevier
Date: 2012
Publisher: Elsevier BV
Date: 03-2013
Publisher: SAGE Publications
Date: 04-2004
DOI: 10.1080/0042098042000194098
Abstract: This paper examines the sustainability of current urban regeneration practice, through the application of weighted indicators and a points scoring framework. The analysis applies the hierarchical model discussed in the preceding paper of this journal issue to case studies of waterfront areas and cultural quarters in three European cities: Belfast, Dublin and Barcelona. The evaluation permits performance comparisons to be made between the case studies regarding the sustainability of regeneration areas and projects, variations on an indicator set basis and the sensitivity of scores. Conclusions are drawn concerning regeneration practice, the extent to which sustainability principles are adhered to, potential policy benefits and the applicability of the model.
Publisher: Wiley-Blackwell
Date: 26-11-2010
Publisher: Emerald
Date: 2000
DOI: 10.1108/02632770010312169
Abstract: Accessibility is now a major issue in the design and maintenance of housing estates. This paper considers the reasons why this issue has emerged and the main obstacles to accessibility encountered by housing estate residents. Focusing on a mature estate in South Belfast, Northern Ireland, investigates the obstacles to accessibility experienced by the residents in order to produce a hierarchy of impacts. Residents were surveyed on a number of issues including location, roads and pavements, transportation, level change, wayfinding, safety and security, and public areas. It was discovered that obstacles relating to wayfinding created the greatest problems for residents however, attitudes towards accessibility varied according to the age of the respondent. The study concludes that accessibility should be introduced estate‐by‐estate dependent on a resident profile in order to maximise resources and advocates the adoption of a co‐ordinated interagency approach.
Publisher: Informa UK Limited
Date: 03-2011
Publisher: Elsevier BV
Date: 06-1979
Publisher: Emerald
Date: 11-2006
Publisher: Informa UK Limited
Date: 2003
Publisher: SAGE Publications
Date: 06-2000
DOI: 10.1080/00420980050032485
Abstract: The definition, identification and factors influencing the operation of local housing markets are relatively underresearched within the UK. This paper reports upon the outcomes of an investigation into the behaviour of housing markets within the local government area of Craigavon, Northern Ireland. The research investigated three interrelated themes of segregation, socio-tenurial polarisation and sub-markets. The findings indicate a high degree of ethno-religious segregation, clear evidence of socio-tenurial polarisation and the existence of sub-markets defined both by religion and locality. There is little evidence of mobility between the two main towns within the local government area, Portadown and Lurgan, but there is clear evidence of dual market structures within both towns.
Publisher: Emerald
Date: 25-05-2012
DOI: 10.1108/14630011211261687
Abstract: Workplace environments and user satisfaction assessment have been recognised as a key research area for improving knowledge‐intense organisation performance through satisfaction‐based productivity. Previous research which focused on satisfaction levels of office users sometimes neglected the fact that not all office users perceived the importance of workplace environment factors (facilities services, design and layout, work and social interactions and distraction control) in a similar way. This suggests a gap in the knowledge base. The purpose of this paper is to introduce a systematic assessment of workplace‐user satisfaction. Criteria decision analysis tools were reviewed and the use of analytic hierarchy process (AHP) was justified as an appropriate method. A survey undertaken in offices across the UK, focused on levels of satisfaction and perceived productivity, in order to construct an AHP Satisfaction Index for comparing with the average score approach. At the in idual level, the AHP Satisfaction Index weighting workplace environment criteria yield a better explanation of workplace‐user satisfaction compared with the average score approach. At the global level, the AHP Satisfaction Index does not impact on the overall statistical behaviour when compared with the original score. The AHP Satisfaction Index can be used as an alternative way to measure workplace‐user satisfaction levels in the office. This approach provides more comprehensive information when researchers and practitioners are interested in the impacts of workplace environment criteria.
Publisher: Liverpool University Press
Date: 04-2000
Publisher: Informa UK Limited
Date: 10-1996
Publisher: Elsevier BV
Date: 04-2000
Publisher: Cambridge University Press (CUP)
Date: 09-2022
DOI: 10.1017/S0144686X22000757
Abstract: The physical and societal characteristics of home have been established as important in influencing the health and wellbeing of older adults, yet these have rarely been explored together. There is also limited research into variation across age groups, with older adults often examined as a homogenous group of those 65 years and over. This study advances the knowledge base by using the concept of person–environment (P-E) fit to analyse differences in personal and home environment (physical and societal) characteristics between young-old (65–74 years) and old-old (75 and above) age groups, and to assess how these characteristics influence their self-perceived health. This cross-sectional study draws upon survey data from 1,999 older adult participants from the Australian Housing Conditions Dataset. Descriptive statistics and inferential analysis were used to assess for significant differences between age groups and a binomial logistic regression was utilised to examine influences on health. The analysis found that the factors which influence health varies appreciably between age groups. For the young-old financial strain, being on the fixed-income pension and hypertension were important contributing factors, in contrast for the old-old gender (being male), having depression and the home being modified for disability were key influences. For both age groups heart disease was a contributing factor to perceived health. The results indicate the important contribution to knowledge of incorporating a wide range of person and environment characteristics when exploring P-E fit for older adults. The inclusion of societal aspects, such as financial strain, fixed-income pension, tenure and access to community aged care services when exploring influences on health, arises as a key conclusion of the study. In terms of impact, this research is significant given rising inequalities globally and specifically in the Australian context, the need for policy measures to address income inequality, and its health and social implications for older households.
Publisher: Emerald
Date: 17-07-2009
DOI: 10.1108/17539260910978481
Abstract: The purpose of this paper is to estimate the expectations component contained in the asking price of residential property, in order to assess whether expectation plays a relevant role in house price appreciation. The paper tests the role of housing characteristics and value perception on asking price. The hypothesis tested in this paper is that asking price of residential properties includes an element of price expectation. The analysis utilises a valuation database of about 1,900,000 records for the Spanish housing market, each record contains information on the price that owners expect to obtain on the sale of their property and housing and neighbourhood characteristics. There are three stages to the analysis. Regression analysis is used to estimate the hedonic models and separate that part of the price arising from housing heterogeneity, a two‐stage least squares model estimates the role of expectations and a metadata approach measures those characteristics that explain the change in the explanatory power of the hedonic models over time. The results show that the explanatory power of hedonic models change with time suggesting that the point in the market cycle modifies the perception of price. The results indicate that the theoretical variables which explain expectations account for about 8 per cent of price, with most of the unexplained element of asking prices due to reasons related with local market conditions. This paper offers two original insights. First, the paper presents analysis based on asking prices and shows how this could be used as a tool to measure house price expectations. Second, the paper provides further perspectives of the Spanish housing market based on a major database of observations.
Publisher: Wiley
Date: 28-10-2009
Publisher: Elsevier BV
Date: 2013
Publisher: Informa UK Limited
Date: 06-1992
Publisher: Elsevier BV
Date: 06-1984
Publisher: Emerald
Date: 07-1997
DOI: 10.1108/02632779710168236
Abstract: Operational property is increasingly recognized as an important asset capable of effective management. Indeed, premises can play a significant role by affecting organizational productivity and supporting corporate mission. Many organizations occupy leased properties owned by investment institutions which aim to benefit from their assets through capital appreciation and rental return. The achievement of these objectives can be related to the facilities value of an office building as determined by design/quality and tenant organization characteristics. Reports the results of a post‐occupancy evaluation survey carried out in the City of London. The results illustrate the variability of tenant characteristics, their property requirements and their perceptions of functional performance. The use of building performance appraisal techniques within the investment management function is necessary for the creation of value for both parties. Suggests that facilities management professionals with expertise in the measurement and benchmarking of building performance are well placed for providing unbiased information to investment decision makers.
Publisher: Informa UK Limited
Date: 12-2003
Publisher: Emerald
Date: 04-04-2016
DOI: 10.1108/JFMPC-09-2015-0036
Abstract: – This research aims to provide an insight into large-scale real estate projects in Europe and how they are using a more innovative blend of finance. – The methodology involved a mix of desk-based study, interviews and case studies. Interviews were held with financiers, policymakers, developers, investors, fund managers and academics. The specific case projects were Battersea Power Station Development in London Leipziger Platz site in Berlin and the Lammenschans site in the city of Leiden, The Netherlands. – The research found that there is growth in the blend of financial products used in real estate development within large-scale mixed-use projects. This new blend is set with greater equity financing, often from domestic and foreign consortiums generating institutional funds – alongside private debt financing – that utilise a mix of large-scale multi-bank finance. – The scale of the challenge in financing real estate development allied with capital budget constraints has meant that the appetite for innovative finance mechanisms has gained considerable momentum in practice and policy. This research investigates current ex les in development finance and provides a discussion of the opinion of key multi-stakeholder participants in the in idual cases, and trends more strategically at a broader level. – This detailed study of three major development sites and at a more broader strategic level is significant, in that it provides a better understanding of the differing blends of finance that are being used.
Publisher: SAGE Publications
Date: 21-07-2016
Abstract: This paper is concerned with spatial effects of time on the market for residential property and time varying relationships using a dataset of properties from the Adelaide metropolitan area, Australia, during the period 2002–2011. The analysis firstly considers the spatial dependence in time on the market and secondly extends the analysis to a space-time model using 2SLS regression. The findings demonstrate the complexity in spatial analysis with results indicating a random distribution of time on the market in 86% of observations a pattern that is consistent over time. Spatial autocorrelation is shown to increase time on the market in the subject property while spatial error decreases time on the market in the subject property suggesting a high level of market transparency and improved liquidity. The compensating or nullifying effects of both types of spatial association is shown to contribute to the random distribution observed in time on the market. A strong explanatory capacity of the business cycle suggests that economic drivers are leading time on the market rather than prices.
Publisher: Emerald
Date: 03-09-2018
DOI: 10.1108/JPIF-02-2018-0013
Abstract: The purpose of this paper is to determine the profile of the typical online fractional residential property investor in Australia. This study also seeks to understand the motives for engaging with and investing in alternative residential property investments. This study employs a survey-based design via an online questionnaire to gather information on investor age, gender, type, education levels, time horizons and investment history and risk and return expectations. It also gathers information regarding investors’ financial literacy including tax implications of fractional property investment. The findings of this study suggest amongst others, that fractional property investors tend to be younger, although the platform also attracts older investors including older females. The study also found that investors do not select alternative investment platforms in anticipation of super-normal investment returns. Return expectations are realistic and are based on a balance between capital growth and income. This study indicates that alternative investment platforms lowers the barriers of entry into residential property for first time investors. It therefore creates opportunities to allow many first time in idual investors to invest in property, often as an alternative to bank savings or investing in the stock market. This study enhances our understanding of the influence of alternative investment platforms on investment decision-making. More specifically, it contrasts fractional property investment with more traditional investment opportunities to understand the motives of investors for ersifying into online investment vehicles.
Publisher: Liverpool University Press
Date: 04-1995
Publisher: Elsevier BV
Date: 03-2018
Publisher: Informa UK Limited
Date: 2012
Publisher: Elsevier BV
Date: 06-2002
Publisher: Elsevier BV
Date: 04-2013
Publisher: SAGE Publications
Date: 12-2001
DOI: 10.1080/00420980120094614
Abstract: This paper examines the urban development process in post-socialist cities of Budapest, Prague and Warsaw in the context of economic globalisation and societal transformation. Several factors have helped to shape the post-socialist cities of central Europe since the end of the 1980s. These include political transformation, economic change, restitution, privatisation, price liberalisation and decentralisation of local government. It is argued that local government administrative and planning structures have been ill prepared in meeting the requirements of international investment capital in a co-ordinated and effective manner. Institutional constraints has promoted an organic form of urban development primarily determined through the international demand for, and supply of, commercial and retail space.
Publisher: SAGE Publications
Date: 04-2004
DOI: 10.1080/0042098042000194089
Abstract: This paper evaluates the use of indicators as a means of measuring the performance of regeneration against sustainability criteria. The merits of sustainability indicators are explored with a discussion of the indicator selection process and the derivation of a points scoring framework. The extent to which the sustainability performance of regeneration projects can be evaluated and subsequently benchmarked is examined. Conclusions are drawn on the robustness of the indicators selected, the versatility of the points scoring framework in capturing the sustainability performance of regeneration projects and the potential to identify 'best' practice. The application of the model and associated indicators is the subject of the subsequent paper in this journal issue.
Publisher: Emerald
Date: 04-10-2011
DOI: 10.1108/17538271111172175
Abstract: The downturn in the residential housing market in Northern Ireland (NI) has been the most pronounced of any UK region, with house prices contracting circa 40 per cent between 2007Q3 and 2009Q4. The downturn at first glance appears to have increased the “ability to afford” however this is nonetheless a “false dawn”. Significant deposit levels coupled with a more prudent lending culture has ensured that housing affordability remains a primary policy concern. The purpose of this paper is to empirically analyse the interrelationships between mortgage liquidity and housing affordability in NI during the boom‐bust cycle in the residential property market. The paper analyses mortgage‐lending statistics for NI in the period 1993‐2009, using time series panel data. House price data are drawn from the University of Ulster House Price Index over the same time series. To facilitate analytical interpretation and outcome analysis, quantitative evaluation is applied within a first‐time buyer (FTB) affordability framework. This study finds that the relationship between mortgage finance and affordability has been driven by deregulation of the mortgage market contributing to the rise in house prices and affordability pressures during the market up cycle. More recently, ongoing liquidity constraints within the financial sector are impairing recovery in the residential property market culminating in heightened concerns of both purchase and “deposit gap” affordability. The key findings suggest that the new significant capital requirement needed to access the housing market will inevitably prolong affordability pressures for the foreseeable future. This paper contributes to affordability debate in two ways. First, it examines the effect of both liberalised and contracted patterns of mortgage finance on affordability and argues that conventional approaches appear to present a “false dawn” for FTBs in NI. Second, the paper demonstrates that affordability post‐financial crisis has shifted in genre towards a purchase and deposit gap (lag time) issue.
Publisher: Emerald
Date: 08-11-2019
DOI: 10.1108/JPIF-08-2019-0114
Abstract: The inception of REITs in Ireland in 2013 presented an additional property investment opportunity to Ireland’s commercial property investment landscape. Importantly, the Irish REIT market is an institutional apparatus with an objective to rejuvenate Ireland’s commercial property market. The purpose of this paper is to provide an empirical validation of the performance of Irish REITs over the period March 2015 to February 2019 across several investment measures such as risk-adjusted returns and ersification benefits. Using monthly total returns in local currency, the risk-adjusted performance and portfolio ersification attributes of Irish REITs are assessed. The mean-variance framework is utilised to assess the potential added-value benefits of Irish REITs in a mixed-asset portfolio. Irish REITs delivered the strongest average annual return performance, lower relative volatility vs the stock market and competitive overall risk-adjusted performance. The results affirm the characteristic of Irish REITs as a total return-focussed income-driven property investment asset class. The optimal asset allocation analysis shows that Irish REITs are an important ingredient in a mixed-asset investment framework, as their allocation could be scaled effectively across the portfolio risk-return spectrum. Irish REITs are an emerging investment opportunity for investors seeking exposure in the strongly performing property market in Ireland in the post-Global Financial Crisis period. They are also regarded as an effective alternative conduit to private investment routes (i.e. direct property and non-listed property funds), with the added advantage of being more liquid and versatile than their private property investment counterparts. Importantly, Irish REITs fulfilled the purpose for which they were originally designed. The promising initial performance observed in this paper gives a useful context to what the future might hold for Irish REITs, given the strong interest for commercial property assets in Ireland from both local and cross-border property investors. This paper is the first empirical research aimed at providing an initial empirical performance validation of Irish REITs as an effective route to commercial property exposure in Ireland. This research enables empirically validated, more informed and practical property investment decision making regarding the strategic role of Irish REITs in a portfolio.
Publisher: SAGE Publications
Date: 11-02-2013
Abstract: Asking price has a fundamental influence on market behaviour and understanding how attributes affect the perceived price of housing. This paper employs a large database of houses from the Spanish housing market to estimate the role of attributes in asking price formation. STAR methodology and GLM with random effects are used to extract the price of attributes and the spatial and time pattern. Results show that the pricing of attributes varies by geographical region and over time with property size and economic and demographic attributes being the key variables explaining asking price formation.
Publisher: Emerald
Date: 09-1998
DOI: 10.1108/02637479810232934
Abstract: Office buildings in the City of London accommodate a wide variety of tenant organisations whose business characteristics and property requirements differ. Physical design/quality attributes also differ between buildings and, therefore, either constrain or support specific business activities. The results of a survey carried out using a s le of investment properties and their tenants within the City illustrate the existence of these variations. In particular, the difference between tenant organizations’ perceived supply and demand for in idual building design/quality factors is highlighted showing areas of general under‐performance. The owners of City of London office buildings, typically the financial institutions, are concerned with the functionality of their properties which influence the short‐ and long‐term returns of this particular type of asset. Information originating from the utilisation of building appraisal techniques is of considerable use within any property management decision‐making process and in particular the identification of potential problems associated with building obsolescence.
Publisher: Informa UK Limited
Date: 20-08-2014
Publisher: SAGE Publications
Date: 03-2010
Publisher: SAGE Publications
Date: 03-2007
DOI: 10.1080/00420980601131928
Abstract: Regional spatial planning in Northern Ireland is directly linked to the transition from conflict to peace, as identified in the Belfast Agreement of 1998. Political consensus, a rare commodity, was secured in the Northern Ireland Assembly for a regional development strategy (RDS), the first spatial planning document of its kind in the UK. This paper explores the deployment of collaborative planning in creating the RDS. Given Northern Ireland's ided socio-political context, the paper seeks to ascertain the influence on meaningful policy debate and strategy-making arising from the collaborative planning approach. The paper investigates the application of collaborative planning measures in Northern Ireland through an analysis of spatial policy relating to economic development. Evidence presented in this paper suggests that socio-political cohesion was given primacy above potentially contentious physical growth patterns necessary for regional economic development, the result of an inability by institutions to grapple with troublesome issues.
Publisher: Emerald
Date: 06-11-2017
DOI: 10.1108/JFMPC-12-2016-0055
Abstract: The purpose of this study is to investigate the perceptions of property investors of the risks and returns associated with property crowdfunding as an investment vehicle. The study contributes to the understanding of alternative property investment vehicles and how it is perceived by investors. The study focusses on investor perceptions in using property crowdfunding as an investment vehicle and follows a survey-based design. A questionnaire was finalised after the completion of a pilot study and was distributed to existing property crowdfunding investors via email. Inferential statistical measures were used. The results show, to an extent, similarities to general equity-based crowdfunding studies. However, the uniqueness of property crowdfunding as an investment vehicle may explain the insignificance of the results when related to other studies. Overall, the property crowdfunding investor seems to present cautious behaviour with a conservative perception of property crowdfunding as an investment vehicle. It is recommended that property crowdfunding platforms present prospective investors with more formal regulation of the property crowdfunding industry. Such a regulatory framework may lessen the current level of uncertainty presented by investors. The study enhances the understanding of the role of property crowdfunding as an alternative investment vehicle in Australia. More importantly, it went some way towards enhancing the understanding of how investors perceive and behave vis-à-vis property crowdfunding as an investment vehicle.
Publisher: Informa UK Limited
Date: 2021
Publisher: Informa UK Limited
Date: 03-1991
Publisher: Informa UK Limited
Date: 03-2012
Publisher: Informa UK Limited
Date: 2000
Publisher: Emerald
Date: 08-02-2008
DOI: 10.1108/14635780810845145
Abstract: The purpose of this study is to solve five key brownfield valuation problems. This aim is achieved by using doctoral research on integrating the scientific process into the appraisal process. The first objective is demonstrating why four of the problems require solutions prior to solving the first problem, a valuation procedure for formerly used sites. A second objective is to use empirical data from appraisals to reveal why existing methodology is not reliable – because it does not solve the four problems. The resulting findings are that a developmental model that incorporates the Triad approach to quantifying environmental uncertainty, initially used in the USA, simulates a process used by buyers to establish the price paid for brownfields with contaminated land. The practical implication that results from this research is that valuers need to emulate the buyer's process when valuing this property type. Prescriptive procedures for valuation requiring the use of scientific methods, as used in the Triad process, need to be set forth to quantify the atypical uncertainties in valuing this property type. The results of this research should be of significant interest to all stakeholders that are involved in brownfield redevelopment, so that they can insure that their needs will be met by improved feasibility analysis. This research is unique in that it is the first empirical test of the reliability of the valuation of brownfields that need to undergo a time‐consuming and often expensive soil remediation process.
Publisher: Emerald
Date: 03-2006
DOI: 10.1108/14635780610655094
Abstract: Few countries have sufficiently long and detailed returns data for real estate to permit sophisticated analysis. This paper aims to examine the potential ersification of private real estate investments using returns data for major regional centres in Ireland and the UK. Optimal real estate‐only portfolios are constructed using total returns, income returns and appreciation returns for office and retail real estate in ten cities within Ireland and the UK. The analysis uses IPD data for the period 1984 to 2002. Total return, income return and appreciation returns are treated as separate asset streams in the modelling of portfolios. The results show different risk levels in particular the income stream carries low risk, whereas the capital appreciation element is much more volatile and risky. Optimal portfolios, office or retail, whether income, appreciation or total returns, indicate that provincial markets perform well and are capable of pushing London out of the optimised portfolios. Limitations stem from the optimal portfolios being based on return series without a consideration of market depth. Future research will seek to construct weighted portfolios. The paper constructs optimal portfolios for three scenarios: low return medium return and high return across sectors, return streams and major regional centres in Ireland and the UK. The results show that regional centres perform well and can exclude London real estate from optimal portfolios.
Publisher: Informa UK Limited
Date: 2011
Publisher: Emerald
Date: 02-2003
DOI: 10.1108/14635780310468293
Abstract: Corporate activity in Ireland has experienced a significant growth as the economy has benefited from extensive inward investment. The purpose of this paper is to analyse the role of real estate in corporate decision making within Ireland. Corporate real estate issues are initially discussed as the contextual anchoring for a survey of corporate occupiers within both the Republic of Ireland and Northern Ireland. Findings indicate a high level of professional and practical experience in relation to real estate but this has not been fully exploited by companies in developing a proactive corporate strategy. Real estate plays a largely traditional role within organisations although it appears that differences exist between indigenous and externally parented companies. Comparisons are drawn with other similar surveys at an international level.
Publisher: Informa UK Limited
Date: 2001
Publisher: Informa UK Limited
Date: 13-11-2014
Publisher: Informa UK Limited
Date: 09-1989
Publisher: Emerald
Date: 22-06-2012
DOI: 10.1108/02637471211233909
Abstract: The introduction of higher density housing development within suburban areas has been favoured by state governments in Australia as a means of improving the efficiency of land use, reducing the costs associated with the delivery of government services and promoting home ownership. However it has been hypothesised that such development may have a negative impact on neighbourhood social structure, for ex le reducing ersity as measured by economic status and family makeup or in local housing market performance as measured by price. This paper aims to test this hypothesis. The methodology employs a quantitative approach with principal components analysis used to capture the main social structure of the Adelaide Statistical Division. Social constructs, the product of principal components analysis, are used to measure outcomes of higher density development as measured by community or household change. The results in this paper show that densification has had significant impact on certain neighbourhoods in the Adelaide Statistical Division notably in relation to their built form but not necessarily in neighbourhood structure or housing market performance. The findings are significant in highlighting that increasing medium densities and improving tenure mix may not necessarily improve the opportunities for socio‐economic mix or for cultural ersity with implications for policy makers seeking to follow strategies based on the promotion of mixed communities. This paper seeks to add new research on the outcomes of higher density development in Australia in three ways. First, social constructs, the product of principal components analysis, are used to measure outcomes of higher density development as measured by community or household change. Second, the paper investigates the development at the local level where impacts are likely to be most important. Third, the analysis identifies a before and after scenario for those suburbs where higher density development has been most significant.
Publisher: Informa UK Limited
Date: 1994
Publisher: Vilnius Gediminas Technical University
Date: 20-06-2014
DOI: 10.3846/1648715X.2014.912691
Abstract: The Malaysian housing market and associated housing finance system have expanded significantly as a result of rapid urbanisation since the late 1980s. The key aspect of this paper is to analyse the inter-relationship between the housing market and housing finance system in Malaysia. The paper employs Vector Autoregressive approach and Granger Causality test to empirically investigate this inter-relationship. In Malaysia, no housing studies has actually looked into or used this approach to identify the inter-relationship between these two elements. The key findings show that there is a strong inter-relationship between the housing market and housing finance system. The direction of causality shows that there is a bi-directional relationship between the housing market and housing finance system. These inter-relationships provide evidence that sound performance of the sub-markets within the housing finance system is a determinant prerequisite of the robustness of the housing finance system, if a healthy performance of the housing market is to be achieved.
Publisher: Informa UK Limited
Date: 11-2003
Publisher: Informa UK Limited
Date: 06-1993
Publisher: Emerald
Date: 13-04-2012
DOI: 10.1108/13664381211211046
Abstract: Tobler's law of geography states that things that are close to one another tend to be more alike than things that are far apart. In this regard, the spatial pattern of price distribution is defined by the arrangement of in idual entities in space and the geographic relationships among them. The purpose of this paper is to provide emerging findings of research analysing the salient factors which impact on the sale price of residential properties using a spatial regression approach. The research develops and formulates a geographically weighted regression (GWR) model to incorporate residential sales transactions within the Belfast Metropolitan Area over the course of 2010. Transaction data were sourced from the University of Ulster House Price Index survey (2010, Q1‐Q4). The GWR approach was then evaluated relative to a standard hedonic model to determine the spatial heterogeneity of residential property price within the Belfast Metropolitan Area. This investigation finds that the GWR technique provides increased accuracy in predicting marginal price estimates, in comparison with traditional hedonic modelling, within the Belfast housing market. This study is one of only a few investigations of spatial house price variation applying the GWR methodology within the confines of a UK housing market. In this respect it enhances applied based knowledge and understanding of geographically weighted regression.
Publisher: Geographical Society of Ireland
Date: 1979
Publisher: Elsevier BV
Date: 08-2017
Publisher: Informa UK Limited
Date: 02-01-2019
Publisher: Emerald
Date: 04-2002
DOI: 10.1108/14635780210420025
Abstract: Outlines the case for the harmonisation of European investment valuation standards. Specific attention focuses upon the national valuation standards within Sweden, The Netherlands, Germany and France with a view to assessing the prospects for uniformly accepted European investment valuation standards. Current practice and perceptions from interviews with 110 valuers are analysed. Educational background and professional training are shown to be influential in decisions upon whether to use national standards, TEGOVA standards or the RICS Red Book. The advent of property performance index series is shown to be a major factor influencing the harmonisation of valuation methods and standards. Conclusions reflect upon the variation between the four countries and the limited progress on the adoption of harmonised standards in Europe.
Publisher: Emerald
Date: 02-03-2015
DOI: 10.1108/IJHMA-04-2014-0009
Abstract: – The purpose of this paper is to analyse how London Interbank Offered Rate Index (LIBOR) and the spread between LIBOR and the base rate of interest as set by the Bank of England (BoE) influences the variation in house prices in the UK. – This paper uses monthly data over a long time series, since 1986, to investigate the relationships between house price and LIBOR. Data are drawn from several different sources to include housing, financial and macro-economic variables. The time series is sub- ided into a series of splines based on stages in the economic and property market cycle. Both value-based and percentage change models are developed. – The results show that BoE base/LIBOR margin variable has a strong positive and significant effect on house price however, the percentage change model infers a weaker and inverse relationship. The spline analysis re-emphasised the significance of the BoE base/LIBOR margin variable. Where variation between base rates and LIBOR is reduced, a significant positive effect can be observed in the average house price however, where significant variation exists, the BoE base/LIBOR margin has little effect and LIBOR itself becomes a significant driver. – The results highlight that the predictive qualities of the BoE base/LIBOR margin, as the contribution of this margin to the explanation of house price, exceeds both the base rate and LIBOR variables in idually. Also highlighted is the contribution of unemployment to the explanation of house price. In both the value and percentage change models, unemployment is shown as a negative and highly significant contributor. – Previous papers have demonstrated the important linkage between house price and interest rates, the originality in this paper lies in examining the impact of LIBOR and the spreads between LIBOR and base rate as key variables influencing variation in UK house prices.
Publisher: Emerald
Date: 10-08-2012
DOI: 10.1108/02637471211249489
Abstract: The office is considered as a strategic resource that can support knowledge‐based organisations to gain competitive advantage and operational efficiency. Although the modern scholar emphasises the role of user involvement in workplace design and management, there is little evidence showing how it can be linked to occupancy cost performance. The purpose of this paper is to investigate benefits of a user‐centric workplace practice by focusing on working time and space utilisation practice of office users. A scenario‐based approach was designed to analyse office occupancy cost performance. A questionnaire survey was conducted from a number of UK‐based offices to create three workspace utilisation scenarios, namely, existing, property‐centric and user‐centric. Key comparison criteria include potential areas of savings, potential total cost savings and cost saving per person. It was found that a user‐centric approach reflects an opportunity to save annual occupancy costs in terms of total costs and cost per person where users indicated how they utilised working time and space. In return, the organisations can gain more productivity from office users who are likely to perform better when they can work in the preferred workplace practice. By adopting this approach, organisations can understand the occupancy characteristics of the offices from multi perspectives, leading to better management in office premises. This paper is concerned with the analysis of how to achieve higher office efficiency by focusing on office user's working time and space utilisation practice.
Publisher: Informa UK Limited
Date: 09-2007
Publisher: Elsevier BV
Date: 11-2020
Publisher: Informa UK Limited
Date: 1998
Publisher: Emerald
Date: 02-2000
DOI: 10.1108/14635780010316672
Abstract: In recent years there has been a growing debate on price, value and worth, particularly in the UK, but increasingly taking on a European perspective as a result of the Single European Act and subsequent Maastricht Treaty. European integration facilitates cross‐border investment and the globalization of business activities. Consequently, there is increasing pressure on valuers to work towards the development of common investment valuation standards within Europe. Furthermore, there is a need to appraise the investment worth of properties, as well as understand local pricing methods, together with greater transparency of investment valuation methodologies and practices. This paper discusses the theoretical arguments surrounding the valuation standards prevalent in the UK and looks towards the potential for uniformly accepted valuation standards across European Union countries.
Publisher: Emerald
Date: 04-04-2016
DOI: 10.1108/JPIF-07-2015-0047
Abstract: – The purpose of this paper is to consider the merits of using projects bonds to finance infrastructure investment projects and considers the pricing of such bonds and the level of risk premium demanded by the market. – The research used a mix of qualitative and quantitative methods with desk-based study and interviews. Interviews were held with policy makers, local authority staff, planners, developers, investors, fund managers and academics. Infrastructure bond data were obtained from the Bloomberg database on all project bonds issued in four Asian countries – Malaysia, China, Taiwan and India – over the period 2003-2014. – The analysis indicates investor appetite for project bonds and suggests that a risk premium of between 150 and 300 basis points over the comparable government bond is appropriate depending on the sector and the degree of government involvement in underwriting the issue. – The paper argues that the introduction of project bonds would be an important innovation, assisting the financing of infrastructure investment at a time when bank lending is likely to remain fragile. The current conditions in the sovereign debt market, where strong demand has forced down yields, has opened up the opportunity to introduce project bonds offering a higher yield to satisfy institutional investment demand for long term fixed income products. – The originality of this paper stems from the analysis of the merits of using projects bonds to finance infrastructure investment projects, the pricing of such bonds and the level of risk premium demanded by the market.
Publisher: Informa UK Limited
Date: 1997
Publisher: Geographical Society of Ireland
Date: 1977
Publisher: Informa UK Limited
Date: 1995
Publisher: SAGE Publications
Date: 03-2009
DOI: 10.1080/02690940902717147
Abstract: Certain cities have competitive advantage and capture the opportunities for growth and development while others continue to negotiate their position in an increasingly competitive global economy. The less competitive cities are struggling to employ effective urban regeneration strategies and property-led business strategies. This paper is concerned with developing an integrated framework for urban competitiveness with linkages to regeneration and business strategies. The methodology employed examines the literature on various regeneration and property-led business strategies being adopted in urban centres to formulate two parallel frameworks for urban regeneration and business. The key outcome of this paper is an integrated evaluation framework for urban competitiveness linked to the regeneration and business strategies.
Publisher: Informa UK Limited
Date: 19-06-2014
Publisher: Emerald
Date: 12-1999
DOI: 10.1108/14635789910294868
Abstract: Property investment vehicles are reviewed from a literature perspective drawing upon the experience of real estate investment trusts in the USA and contrasting this with European ex les. The primary focus of the paper is upon German funds, using survey evidence to evaluate their structural characteristics. The paper forwards from a theoretical perspective an assessment framework indicating how different types of fund can be matched to product opportunities on the basis of risk, appreciation potential, nature of contract, location and use.
Publisher: Emerald
Date: 06-2010
DOI: 10.1108/17538271011049731
Abstract: The purpose of this paper is to explore how the difference between the sale price and list price of houses varies across the market cycle. The paper utilises quarterly transaction‐based information on house prices from the Belfast Metropolitan Area. The information is structured on a time series basis from 2002 to 2008. The analysis is concerned with the mean differences between list price and sale price, the standard deviation of the differences, the skewness and kurtosis of the distributions. The results show that under normal market conditions the mean deviation between list price and sale price is small circa 1 per cent. However, the departure between list price and sale price becomes substantial on both the up‐ and down‐cycles of the market. The analysis shows that the highest mean positive deviation of 12.1 per cent occurred in the first quarter of 2007 and two quarters before sale prices peaked, suggesting that buyer bidding behaviour was changing prior to the market peak. The extent of market change is highlighted by the mean negative deviation of 8.6 per cent for the fourth quarter of 2008. The results demonstrate that volatility increases over the cycle and distributions of price differences are lower and flatter. This paper breaks new ground through the analysis of differences between list and sale price in a period of high volatility in the housing market. The analysis shows how list price lags sale price on the up‐cycle but leads on the down‐cycle.
Publisher: Emerald
Date: 08-2005
DOI: 10.1108/14635780510602426
Abstract: Seeks to explore recent studies in corporate real estate and to provide a comparative analysis of industrial corporations in Ireland and those in the non‐industrial sector with respect to their corporate real estate management objectives. The empirical investigation reports on a study undertaken in Ireland and compares results from companies in the industrial sector with companies in the non‐industrial sector. The methodology is based on a behavioural questionnaire targeted at the top 150 companies operating in Ireland and classified on the basis of number of employees. The findings indicate that significant differences are apparent between companies in the industrial sector and companies not in the industrial sector in the use of real estate assets. In particular companies in the industrial/manufacturing sectors have weakly developed corporate real estate strategies. The main limitations derive from a relatively small s le size, a function of targeting the survey at senior executives. There are implications for companies in the under‐utilisation of real estate assets and the effects of this on corporate balance‐sheets requires further investigation. Highlights that companies in Ireland, notably those in the industrial sector, have some significant way to go in utilising their corporate real estate assets more effectively.
Publisher: Informa UK Limited
Date: 09-05-2014
Publisher: Emerald
Date: 02-08-2013
DOI: 10.1108/JFMPC-07-2012-0022
Abstract: The purpose of this paper is to examine the performance of European listed infrastructure before, during and after the global financial crisis and the significance of European infrastructure in a mixed asset portfolio. The paper examines the level of correlation of European infrastructure with other major assets classes and substantiates the potential ersification benefits of including European infrastructure within a mixed asset portfolio. The study uses monthly investment return indices obtained from Thomson Reuters DataStream over a ten year period (2001‐2010). The paper analysed the European listed infrastructure investment return characteristics including average annual return, annual risk, Sharpe indices, mean variance portfolio and maximum return portfolio and computes the efficient portfolio frontiers using the risk solver optimization tool. This study shows that despite the global financial turmoil, a robust performance was seen by certain infrastructure sub‐sectors particularly European generation utilities, which posted positive annualised returns during the global financial crisis and European “ports” emerged as the overall best performing sub‐asset class during the post‐GFC period. Using the monthly return indices over the ten year period, European infrastructure investment was found to play a significant role in the optimality of multi asset portfolios. The originality of the paper stems from the analysis of the performance and significance of European listed infrastructure in a multi‐asset portfolio over unique periods which tested the resilience of European listed infrastructure performance over different financial climates including the global financial crisis period. This paper presents European listed infrastructure as an indication of rewarding investment outlets for investors in quest of exposure to the infrastructure industry and for those seeking to enhance investment portfolio performance.
Publisher: Elsevier BV
Date: 05-1997
Publisher: Emerald
Date: 02-08-2013
DOI: 10.1108/JFMPC-07-2012-0028
Abstract: The purpose of this paper is to explore the implications of the Global Financial Crisis (GFC) on Public Private Partnership (PPP) markets around the world. Specifically, it aims to highlight the extent of over reliance on debt finance, as well as the conditions needed to attract enhanced levels of institutional investment into key infrastructural provision. Quantitative insight for the paper is derived from the Infrastructure Online Database. The Infrastructure Journal ( IJ ) Online Database profiles PFI/PPP deals around the world depicting the key actors involved, as well as the capital value of deals and the financial structures applied in terms of debt, equity and Multilateral and Government Finance. The quantitative insight derived from the IJ database is complemented by interview evidence and forum‐based discussion. In total, 38 interviews were conducted with a erse range of key stakeholder groupings from across the public and private sectors, including government advisers, client side representatives (Health and Education sectors), contractors, financiers and FM providers. Interviewees were drawn from five key PPP markets at different stages in the maturity cycle, namely, Australia, Canada, India, the UK and the USA. In addition to the interviews, three forum‐based discussions were undertaken as part of the investigation exploring the key themes to emerge from the interviews from multi‐stakeholder perspectives. The findings from the study highlight a number of inherent deficiencies in the PPP model, including the over reliance on private sector debt. Additionally, the research profiles the extent and form of national government interventions in PPP markets around the world, highlighting the need for a more innovative, sustainable and balanced funding frameworks for essential infrastructure conducive to the next economic/financial cycle. This study is distinct in that it examines the cross‐jurisdictional implications of the global financial crisis on PPP markets.
Publisher: Informa UK Limited
Date: 2002
Publisher: University of South Australia
Date: 2017
Publisher: Vilnius Gediminas Technical University
Date: 30-11-2019
Abstract: This paper using evidence from the Spanish housing market contributes significantly to the debate concerning the different results obtained from house price indices depending on the method used to build the index. Utilising a large database over the period 1994 to 2012, the paper constructs a time dummy hedonic index (HD) and an imputed hedonic index using a Laspeyres approach (HI), and compares the different effect on the price index evolution. The paper discusses control by quality changes and identifies those attributes experiencing structural changes over the analysis period, identified by the HI index but not by the HD index. Results indicate that changes in quality stem from socio-demographic conditions rather than changes to housing quality (other than size). The paper also shows that improvements in neighbourhood quality rather than change in a ‘typical house’ affects house price and argues that these considerations are important in both the method selected to calculate house price indices and the application of the methodology to estimate price changes.
Publisher: SAGE Publications
Date: 11-1999
Abstract: The financing of urban regeneration and levering of private-sector investment remains a major policy issue. This article, utilising the results of a behavioural survey, analyses the motivations of investors and their participation across a range of regeneration initiatives. The pattern of investment activity over the market cycle, reasons for holding an urban regeneration portfolio, evaluative factors and perspectives concerning the attraction of private finance into urban regeneration are considered. The findings indicate that regeneration initiatives provide a significant cushioning effect but that, in terms of holding projects in a property portfolio or evaluating schemes, market-based factors relating to return and risk are core influences.
Publisher: Informa UK Limited
Date: 1998
Publisher: University of South Australia Business School
Date: 2018
Publisher: Informa UK Limited
Date: 2002
Publisher: SAGE Publications
Date: 05-2003
DOI: 10.1080/0042098032000074326
Abstract: Attracting investment and finance into inner-city and other renewal areas poses particular difficulties and is frequently reliant on strong public-sector commitment through special incentives or other mechanisms to provide the conditions to lever private-sector activity. This paper initially links the concept of market failure and the rationale for regeneration and examines policy responses from UK, European and US perspectives, followed by a consideration of public- and private-sector financing approaches. International perspectives draw particularly upon the use of tax-based mechanisms in regeneration—notably, those used in the US. In the European context, the paper highlights implications for regeneration stemming from the interpretation of State Aid rules and competition policy. Conclusions reflect upon the complexity of regeneration and the importance of the different stakeholders within the regeneration process.
Publisher: Informa UK Limited
Date: 03-2006
Publisher: SAGE Publications
Date: 2006
DOI: 10.1080/00420980500388736
Abstract: Multisector partnerships have become the central tenet of contemporary urban regeneration policy facilitating a new form of local participative governance. Consequently, neighbourhood renewal and the importance of 'people' and 'places' have encouraged the emergence of a new form of 'community leader' who is more in touch with the problems of local disadvantaged groups. This paper explores the issue of leadership within multisectoral urban regeneration partnerships, focusing on the formation of social capital, power relations and partnership synergy. Conclusions point to the synergistic and social capital benefits of partnerships and the role played by urban leadership in generating a collaborative network capable of achieving more than performance targets.
Publisher: Elsevier BV
Date: 12-2013
Publisher: Elsevier BV
Date: 12-2019
Publisher: Informa UK Limited
Date: 06-1999
Publisher: Liverpool University Press
Date: 07-2007
DOI: 10.3828/TPR.78.4.5
Location: United Kingdom of Great Britain and Northern Ireland
Location: United Kingdom of Great Britain and Northern Ireland
No related grants have been discovered for Stanley McGreal.