Sixties: not so sound
Article Abstract:
The 1960s has gone down in the British real estate history as the decade of the office-building boom. After a 20-year lull beginning in the 1940s, constructionin the UK surged as demand for new office and shopping space suddenly increased. New buildings began to sprout while neo-classical and neo-gothic structures were converted. Unfortunately, many of the buildings built in the 1960s quickly deteriorated. The poor quality of the buildings was mainly due tothe heavy emphasis given on price. Developers were reluctant to spend too much on projects because of the low level of rates at the time. Other contributing factors were the shortage of materials, the sharp demand for office space that encouraged developers to cut corners, and the popularity of structural steel combined with reinforced concrete and wall panels. The quality of buildings started to improve when rents began to climb.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1993
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The tightrope of valuation
Article Abstract:
Assigning a value to property is an extremely difficult task which calls for the exercise of good judgment to balance facts and figures. In a sense, valuers must walk a very thin tightrope, taking care not to overvalue or undervalue property to preserve their professional integrity. To arrive at a value that is just right, valuers may try to examine future trends. For instance, an increase in rent due to low supply and high demand for space serves as a signal for valuers to take a bullish view of values. Valuers also try to consider the possibility of a slump in the market when making valuations. Unforeseen events, however, can render these measures useless. This was clearly demonstrated when prime rents in Edinburgh, Scotland jumped from 6.50 pounds sterling per sq ft in 1985 to 26 pounds per sq ft in 1989, an increase that took Scottish valuers by surprise.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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Occupational hazards
Article Abstract:
The owner-occupation of facilities is extremely popular within the industrial sector of Scotland. Owner-occupancy figures for other Scottish sectors, such as the office and store sectors, pale in comparison with those for the industrial sector, which show that 90% of the 400 million square feet of industrial and warehouse space in Scotland is being occupied by its owners. Several factors contribute to the trend toward sustaining owner-occupancy in the Scottish industrial sector. Among such factors are the limited leasing choices for Scottish industries and the financial benefits of purchasing property over leasing property.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1992
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