<italic>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 decentralization. Subsequently, a number of major in‐town shopping centres were developed in the UK. The first of these was the Oracle...</italic>

Due to the requirement to demonstrate financial feasibility of policy proposals and scheme-specific planning obligations, development viability and development appraisal have become core themes in the English planning system. The objective of this paper is to evaluate the application of...

There is a substantial literature which suggests that appraisals are smoothed and lag the true level of prices. This study combines a qualitative interview survey of the leading fund manager/owners in the UK and their appraisers with a empirical study of the number of appraisals which change...

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...

The paper aims to examine critically the margin of error principle currently used by the English courts as a test of negligence in valuations. In particular, it considers whether the 'bracket' of 10-15% which is routinely accepted by judges is justified by reference to existing empirical studies...

Small businesses and commercial property leasing are two important policy areas for the UK Government. Hence, it has been promoting flexibility and choice in commercial leases as part of a wider enterprise and productivity agenda, and attempting to improve the awareness of small business tenants...

Property appraisers and the appraisal/valuation process have recently been the focus of attention in many parts of the world. This paper concentrates on one part of the valuation process: the final valuation report submitted to the client. The paper presents the results of a questionnaire survey...

This paper examines the contribution of the RICS Cutting Edge Conference to commercial real estate research. In the 1990s the Cutting Edge developed as the principal forum for disseminating the findings of commercial property research. In this paper it is argued that a review of the conference...

This paper identifies the long-term rental depreciation rates for UK commercial properties and rates of capital expenditure incurred to offset depreciation over the same period. It starts by reviewing the economic depreciation literature and the rationale for adopting a longitudinal method of...

This paper examines the legal liability implications of changes to the commercial property loan valuation process caused by the recession in the UK property market. It identifies the market background to commercial property lending and discusses the implications of the falls in value for lenders...