Small businesses and commercial property leasing are two important policy areas for the UK Government. Hence, it has been promoting flexibility and choice in commercial leases as part of a wider enterprise and productivity agenda, and attempting to improve the awareness of small business tenants...

Adaptability is critical to success in business. Yet, many businesses in the UK occupy premises on fixed term leases, which run for several years, a feature that has great appeal to investors. However, during this time property requirements can change. This research critically examines the three...

This paper examines the effect which the rent assessment process has on the level of rents and rental values in the commercial property market in England and Wales, by asking: is there an accepted definition of open market rental value which is consistently adhered to, irrespective of the...

UK commercial property lease structures have come under considerable scrutiny during the past decade since the property crash of the early 1990s. In particular, tenants complained that the system was unfair and that it has blocked business change. Government is committed, through its 2001...

This paper examines the use of the UK Red Book definition of open market rental value in the context of the provision of rental values for performance measurement purposes; specifically the bases and interpretations used in the construction of actual property-based commercial rental value...

The aim of this paper is to provide a response to suggestions that the removal of upward-only rent reviews (sometimes known as ratchet clauses) would reduce commercial property asset values in the UK. The paper also seeks to estimate the amount of the reduction. It argues that the fall in the...

<italic>Planning policy aimed at preserving the viability of UK town centres halted the wave of out‐of‐town shopping centres -- Schiller's ‘third wave’ of decentralization. Subsequently, a number of major in‐town shopping centres were developed in the UK. The first of these was the Oracle...</italic>

Purpose – In the context of the financial crash and the commercial property market downturn, the purpose of this paper is to examine the basis of valuation used in the UK commercial property lending process. Post‐crisis there is discussion of countercyclical measures, including the...

Purpose – There is a growing international interest in the impact of regulatory controls on the supply of housing. The UK has a particularly restrictive planning regime and a detailed and uncertain process of development control linked to it. The purpose of this paper is to present the...