Office Markets and Public Policy.
Title:
Office Markets and Public Policy.
Author:
Jones, Colin.
ISBN:
9781118554326
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (252 pages)
Series:
Real Estate Issues
Contents:
Office Markets & Public Policy -- Copyright -- Contents -- Acknowledgements -- Preface -- 1 Introduction -- History of offices -- City office markets -- City of London -- Manhattan, New York -- La Défense, Paris -- Bankenviertel, Frankfurt -- Lujiazui, Shanghai -- Charlotte, North Carolina -- Dubai -- Commentary -- Overview of office market trends -- Book structure -- 2 Market Fundamentals -- Growth of services -- New technology, new work and new offices -- New specialist office forms -- The office stock -- Constraining influences on the office property market -- Leases -- Planning -- Office market cycles -- Global property cycle? -- Local office markets -- Repeating the 'mistakes' -- Conclusions -- 3 Submarkets and the Changing Nature of the Traditional Central Business District -- Economics of cities and office location -- The Central Business District and intra-urban rent structures -- Bid-rent curves -- Spatial equilibrium -- Office submarkets -- Identifying submarkets -- Changing submarkets and a polycentric office market -- Summary -- 4 Decentralisation and Edge City Office Centres -- The information age -- The motor age and urban forms -- Deconstructing agglomeration economies -- Decentralisation processes -- Suburban offices and edge cities -- Spatial structure of urban office markets -- Spatial pattern of rents -- Congestion, decentralisation and public policy -- Conclusions -- 5 Investment, Risk Premiums and Office Market Dynamics -- Obsolescence of offices and depreciation -- Institutional office investment trends in the UK since the 1980s -- Investment in offices -- Establishment of office parks as an investment class -- Mixed-use development -- Institutional investment and office cycles -- Yield premiums in provincial cities -- Office transactions in provincial cities -- Credit crunch, cycles and bubbles -- Conclusions.
6 Public Policy and Competitiveness -- Offices, competitiveness and the urban economy -- Overview of public policy -- Competitiveness and property market constraints -- Public policy and office location constraints -- Removing constraints -- Dispersal policies -- Logic of property-led local economic development policies -- Sustainable markets -- Case studies of public policy initiatives -- London Docklands -- Dubai -- Concluding comments -- 7 Green Offices, Office Markets and Sustainability -- A sustainable city? -- Offices and the environmental dimension -- Modern air-conditioned city centre offices -- Office parks -- Tall office towers and the economic dimension -- Greening the office stock -- Cost of building green offices -- Arguments for paying higher rents for green offices -- Energy savings -- Green working environment -- Green corporate image -- Green refurbishment of existing offices -- Current and changing occupier attitudes -- Towards a green office rental market -- Green investment -- Conclusions -- 8 Market Changes and Challenges -- Evolving offices -- Evolving office markets -- Office market cycles, bubbles and globalisation -- Toward greener offices? -- Sustainable locations -- Greener buildings -- A green premium? -- Defining a green office -- The future of offices as an investment -- Public policy issues -- Local economic development -- Transport policies -- Sustainability agenda -- Future challenges for the market -- References -- Index.
Abstract:
This is the first book that looks at how offices and office markets in cities have changed over the last 30 years. It analyses the long-term trends and processes within office markets, and the interaction with the spatial economy and the planning of cities. It draws on examples around the world, and looking forward at the future consequences of information communication technologies and the sustainability agenda, it sets out the challenges that now face investors. The traditional business centres of cities are losing their dominance to the brash new centres of the 1980s and 1990s, as the concept of the central business district becomes more diffuse. Edge cities, business space and office parks have entered the vocabulary as offices have also decentralised. The nature and pace of changes to office markets set within evolving spatial structures of cities has had implications for tenants and led to a demand for shorter leases. The consequence is a rethink of the traditional perception of property investment as a secure long term investment, and this is reflected in reduced investment holding periods by financial institutions. Office Markets & Public Policy analyses these processes and policy issues from an international perspective and covers: A descriptive and theoretical base encompassing an historical context, a review of the fundamentals of the demand for and supply of the office market and offices as an investment. Embedded within this section is a perspective on underlying forces particularly the influence of technological change. A synthesis of our understanding of the spatial structure and dynamics of local office markets at the city level. An assessment of the goals and influence of planning policies, and the evaluation of policies designed toward the long term sustainability of cities as services centres. This goes beyond standard
real estate and urban economics books by assessing the changing shape of urban office markets within a spatial theoretical and policy context. It will be a useful advanced text for honours and postgraduate students of land economy; land management; property and real estate; urban planning; and urban studies. It will also be of interest to researchers, property professionals, policy-makers and planning practitioners.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Genre:
Electronic Access:
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