Internal rents and corporate property management: a study into the use of internal rents in UK corporate organisations

Research in the late 1980s showed that in many corporate real estates users were not fully aware of the full extent of their property holdings. In many cases, not only was the value of the holdings unknown, but there was uncertainty over the actual extent of ownership within the portfolio. This resulted in a large number of corporate occupiers reviewing their property holdings during the 1990s, initially to create a definitive asset register, but also to benefit from an more efficient use of space. Good management of corporately owned property assets is of equal importance as the management of other principal resources within the company. A comprehensive asset register can be seen as the first step towards a rational property audit. For the effective, efficient and economic delivery of services, it is vital that all property holdings are utilised to the best advantage. This requires that the property provider and the property user are both fully conversant with the value of the property holding and that an asset/internal rent/charge is made accordingly. The advantages of internal rent charging are twofold. Firstly, it requires the occupying department to “contribute” an amount to the business equivalent to the open market rental value of the space that it occupies. This prevents the treating of space as a free good and, as individual profit centres, each department will then rationalise its holdings to minimise its costs. The second advantage is from a strategic viewpoint. By charging an asset rent, the holding department can identify the performance of its real estate holdings. This can then be compared to an internal or external benchmark to help determine whether the company has adopted the most efficient tenure pattern for its properties. This paper investigates the use of internal rents by UK-based corporate businesses and explains internal rents as a form of transfer pricing in the context of management and responsibility accounting. The research finds that the majority of charging organisations introduced internal rents primarily to help calculate true profits at the business unit level. However, less than 10% of the charging organisations introduced internal rents primarily to capture the return on assets within the business. There was also a sizeable element of the market who had no plans to introduce internal rents. Here, it appears that, despite academic and professional views that internal rents are beneficial in improving the efficient use of property, opinion at the business and operational level has not universally accepted this proposition

The Mars airplane

The concept of the Mars airplane was developed as a potential vehicle for unmanned Mars exploration. It is suggested that its most appropriate use would be as an unmanned adjunct to a manned mission. Functions such as reconnaissance, exploration, remote delivery of instruments, etc., are possible. Several operational aspects of such a vehicle are unique compared to Earth operating aircraft

A Mathematical Model for Epitaxial Semiconductor Crystal Growth from the Vapor Phase on a Masked Substrate

Certain materials used in lasers are made by a process called epitaxial semiconductor crystal growth. In this report a mathematical model is developed for this growth process which occurs on a substrate at the junction between a masked region and exposed substrate in a vapor. This new model consists of two partial differential equations; one for the surface dynamics and one for the crystal growth on the exposed substrate. An analysis of the steady state solutions is furnished. Approximate solutions for time-dependent cases are found using two numerical methods. An asymptotic analysis is also carried out to determine transient solution behavior. The undesireable "bump" structure at the mask/substrate junction which has been observed experimentally is present in the solutions found by each method

Solar energy for process heat: Design/cost studies of four industrial retrofit applications

Five specific California plants with potentially attractive solar applications were identified in a process heat survey. These five plants were visited, process requirements evaluated, and conceptual solar system designs were generated. Four DOE (ERDA) sponsored solar energy system demonstration projects were also reviewed and compared to the design/cost cases included in this report. In four of the five cases investigated, retrofit installations providing significant amounts of thermal energy were found to be feasible. The fifth was rejected because of the condition of the building involved, but the process (soap making) appears to be an attractive potential solar application. Costs, however, tend to be high. Several potential areas for cost reduction were identified including larger collector modules and higher duty cycles

Ozonation of cooling tower waters

Continuous ozone injection into water circulating between a cooling tower and heat exchanger with heavy scale deposits inhibits formation of further deposits, promotes flaking of existing deposits, inhibits chemical corrosion and controls algae and bacteria

The development of methods for the early identification of heart disease and related job stresses Progress report, 1 Mar. - 30 Jun. 1969

Methods for early identification of heart disease and related job stresse