In late 2005, a number of German open ended funds suffered significant withdrawals by unit holders. The crisis was precipitated by a long term bear market in German property investment and the fact that these funds offered short term liquidity to unit holders but had low levels of liquidity in...

This paper investigates the extent to which clients were able to influence performance measurement appraisals during the downturn in commercial property markets that began in the UK during the second half of 2007. The sharp change in market sentiment produced speculation that different client...

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 decentralisation. In consequence,  a number of major in-town shopping malls were developed in the UK. The first of these was the Oracle...

Depreciation is a key element of understanding the returns from and price of commercial real estate. Understanding its impact is important for asset allocation models and asset management decisions.  It is a key input into well-constructed pricing models and its impact on indices of commercial...

The aim of this paper is to critically examine the application of development appraisal to viability assessment in the planning system. This evaluation is of development appraisal models in general and also their use in particular applications associated with estimating planning obligation...

The terms of a commercial property lease covers aspects such as rent, alterations to premises and the ability to leave; consequently they have a significant impact on cash flow and the ability of a business to develop. In contrast to the heavily-legislated residential sector, commercial landlords...

In the context of the financial crash and the commercial property market downturn, this paper examines the basis of valuation used in the UK commercial property lending process.  Post-crisis there is discussion of countercyclical measures including the monitoring of asset prices; however there...

This paper makes the case for doing research on the history of investment valuation. It adopts a cultural economy approach which suggests that economies and markets are constructed, not given; and that economic practices ñ such as those involving calculations like property investment valuations...

At the end of 2005 German open ended funds were subject to heavy withdrawals and a number of funds either suspended dealings or were supported by the parent bank. Fund units are priced by the fund managers based on the asset values of the properties in the funds. The main selling platform of...