Pricing and Time on the Market for Residential Properties in a Major U.K. City

The pricing and length of time to sell single-family residential properties is a function of the interaction between buyer and seller behavior. This study estimates value effects in relation to the time on the market for residential properties within the Belfast (U.K).metropolitan area. Three distinctive characteristics of market are highlighted. First, the majority of sales are at a premium to the list price. Second, different factors influence time on the market for premium and discount sales. Third, the marketing period is examined for three events: listing to sales agreement, sales agreement to completion, and listing to completion.

The role of UK universities as economic drivers in a localisation agenda : A case study of City Deals.

Open Access via the Elsevier agreementPeer reviewedPublisher PD

External funding of major capital projects in the UK Higher Education sector: issues of demand, supply and market timing?

Peer reviewedPostprin

Innovative real estate development finance – evidence from Europe

© 2016, © Emerald Group Publishing Limited. Purpose – 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. Design/methodology/approach – 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. Findings – 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. Practical implications – 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 examples in development finance and provides a discussion of the opinion of key multi-stakeholder participants in the individual cases, and trends more strategically at a broader level. Originality/value – 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

Corporate real estate strategy: a conceptual overview

This paper is a review of key issues that have emerged in the development of corporate real estate (CRE) over the past two decades and in particular considers how real estate asset holdings and activities support business objectives. The themes explored include definitions of CRE; the roles, contributions and functions of CRE; the paradigm shift in real estate from being a space provider to a strategic resource; and the strategic management context and strategy formulation

Impact of quality-led design on real estate value: a spatiotemporal analysis of city centre apartments

This paper estimates the impact of quality design attributes on real estate value through empirical investigation of the owner-occupied multifamily residential sector. The methodological design is based on spatiotemporal modelling using a unique data-set of 424 Belfast City Centre apartments sold during the period 2000–2008. The key findings indicate that urban scale aspects of quality such as connectivity and vitality associated with building density add to real estate value. At the building level, quality features highly valued by home buyers are namely appropriateness of material quality, fenestration and massing to the surroundings. These key criteria are considered to have a significant visual perception compared to more complex concepts such as identity, material choice and overall condition. The contribution to knowledge involves extending the hedonic model to incorporate a wider selection of design quality variables; and improving estimation through the use of spatiotemporal modelling.</p

Corporate real estate strategy in the UK and Malaysia

Purpose: The purpose of this paper is to compare corporate real estate (CRE) strategies of companies in a mature market, the UK, with companies in an emerging market, Malaysia, and examine whether CRE strategy impacts on financial performance. Design/methodology/approach: The methodology involved the analysis of the reporting of CRE strategies in company reports for two time periods, 1998 and 2003. Multivariate models were used to test the relationship between CRE strategy and financial performance. Findings: The results show that a high percentage of companies have CRE strategies that map to the Nourse and Roulac framework, though some companies had alternative or no CRE strategies. Variations are apparent between the UK and Malaysia and between the time periods with differences in the clarity of reporting. The contribution of CRE strategy to financial performance is more significant in 2003. Research limitations/implications: The testing of relationships based on another framework, would allow comparisons to be made with the current study in determining the potential of CRE strategy. Originality/value: This study has been the first attempt to identify relationships between CRE strategy and the financial performance of companies and in doing so has raised other potential questions for further research