This paper "Commercial Property Development in London" will explore the primary drivers for commercial property development in the central London in recent years. It will also examine the extent to which BIDS has been a significant factor for good in the central London…
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A report by Ball, Lizieri, and Macgregor (2012, p.41) indicate that the city has witnessed a faster growth of commercial properties in the recent past. In this regard, the report showed that many property developers have been targeting central London as the best place to put up a commercial property. Nevertheless, this growth in commercial property, in London, is taking place at the backdrop of the recent financial crisis that did affect the U.K. adversely. Research has shown that the recent financial crisis of 2007/2008 did affect all the economic sectors in the nation including the property market, which dropped to an all-time low as many people could not afford to invest in commercial properties due to lack of enough funds required for the project. In fact, the U.K. is still struggling to recover from the effects of the financial crisis, by introducing measures aimed at improving the state of the economy such as opening up the country for investments. O’Kelly (2012) noted that the economy of the U.K. shrunk by about 4.9% in 2009 due to the effects of the 2007/2008 financial crisis. In fact, the economy of the U.K. has not been able to experience any significant improvement since then. Only recently, in 2012, did the economy registered a growth rate of about 1%. However, economists remain positive that the economy is on the right course and is likely to enjoy significant growth over the next few years.
However, as earlier stated, central London has overcome all these odds and has been experiencing increased growth in commercial property development over the last six years.
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(Commercial Property Development in London Essay)
“Commercial Property Development in London Essay”, n.d. https://studentshare.org/macro-microeconomics/1617064-development-finance-funding-report-discuss-the-main-drivers-for-commercial-property-development-in-the-central-london-area-over-the-last-6-years-have-bids-been-a-significant-factor-for-good-in-this-area-discuss-the-above-2-items-in-relation-to.
In determining the limitations and extent of the contractual relations, all laws and regulations pertinent to the subject matter are deemed incorporated into the agreement notwithstanding that the parties neglected to explicitly include the relevant provisions in the agreement.
529 billion, in comparison to the residential property market which is about ? 3,805 billion. If we look back to scale the performance of the commercial property market, we will see it has generated considerable revenue in and before 2007. Most of the pension providers in UK invested at least 5-10 percent of their money in commercial properties.
One of the options that have increasingly being adopted is real estate based on the benefits it has offered in the past years. This change in market dynamics has moved individual investors to real estate investment along with institutional investors (IPF, 2007).
The issue of commercial property has been in the economic circles for a long time. With the growing global population, business expansions, and need for higher living standards in the world, the demand for commercial properties has been rising at a significant rate. Commercial properties form and rely on macro and microeconomics.
however property valuation is a complex task due to involvement of several factors, most of which are either intangible or changes frequently over time.
The objective of this paper is to provide a brief overview of different valuation methods. The paper will critically analyze pros and cons of various methods and try to present a holistic valuation approach.
Thus, property plays a pivotal role in the development of the society and the economy as well. Therefore, constructing infrastructure in the name of houses and offices is not sufficient to develop ea property, but in addition effective consideration of certain other aspects in addition to the local situation play a critical role in the development of the site.
Since there are many factors influencing the commercial real estate, due to diverse range of uses and complicated location, thus, there is huge intricacy involved in valuing various commercial estates. When we talk about commercial real estate, it is referred to commercial retail including department stores, super markets, shopping malls, and hotels, offices, buildings, restaurants, etc.
Changes in investment activity, employment, and prices may be a recurring and frequent manifestation of economic development in a competitive and dynamic economy.
In today's economy like in the past, housing has profound and often unappreciated impact upon the lives of the citizens of each country.
l rules can be justified by the existence of many issues in the specific area that cannot be located with accuracy and as a result their regulation is also a very difficult task to perform. Current paper examines specifically the commercial property management in Australia and