Commercial property loan valuations in the UK : implications of current trends in practice and liability

This paper is the second of two papers which aim to examine the major legal liability implications of changes to the commercial property loan valuation process caused by the recession in the UK property market and to make recommendations to valuers and their professional institutions to improve the quality of the process and the result. The objectives of this paper are to address a number of the practical implications of changes to the loan valuation process within the context of legal liability. The results of an interview survey of lenders and valuers are reported and analysed. The survey examined the loan valuation process including the selection and instruction of valuers, bases of valuation and valuation reporting. In the selection and instruction process, the findings of the survey reveal two potential problems within the valuer/lender relationship. First, valuers still occasionally accept instructions from borrowers and this could lead to a conflict of interest as lenders may rely on the survey. Second, the occasional lack of formal instructions prior to the delivery of reports casts doubt on the valuer’s ability to correctly identify the needs of clients. Regarding the basis of valuation, it was found that valuers are providing valuations on bases which they do not think are appropriate. Valuers may be legally liable if they do not inform clients of their reservations and this situation must be urgently addressed. The survey also confirms previous research that valuation reports are considered to be light on contextual information concerning markets. The paper concludes by making a number of specific recommendations concerning possible improvements to the commercial property loan valuation process.

Local space for local people? Trends in the provision and management of urban outdoor recreation in the UK

This paper examines the growing trend in the UK towards the effective privatisation of formerly public open space and the relationship of this trend to the recent shifts in public sector management. A case study of Reading, England, illustrates the growing cultural and spatial dysfunction, particularly in terms of the declining knowledge and use of the town's urban gardens by the local population. Where once the gardens were a focus of social activity, therefore, they are now a largely irrelevant site of urban decline. In contrast to central urban space, it is clear that other types of open space in other areas can still assume a significance in peoples' lives. In many cases the use of these areas illustrates a counter cultural position in which the consumerism of the city management is actively being resisted. The paper concludes that while there appear to be ways in which local space could be reclaimed for local people, the power to achieve this lies predominantly in the same hands as those responsible for appropriating central space to the imperative of the market in the first instance

Recent trends in UK Government policy on the provision and management of leisure facilities

Since the first election victory of the Thatcher administration in 1979, Britain has witnessed a cultural transformation from the municipal socialism of the post-World War 2 Welfare State to a form of post-industrial entrepreneurialism. This has had a profound effect on all aspects of civil society, not least the redefinition of the role of active leisure from the 1950s evocation of 'Sport For All' to the market rationality of the 1980s. The transformation has signalled a shift from government support for active leisure as an element of citizen rights to the use of leisure to promote the government's interest in legitimating a new social order based not on rights but on means. Thus access to active living is no longer a societal goal for all, but a discretionary consumer good, the consumption of which signifies 'active' citizenship. It furthermore signifies differentiation from the growing mass of 'deviants' who are unwilling or unable to embrace this new construction of citizenship and are, therefore, increasingly denied access to active living and, hence, active citizenship.

Trends in Austral jet position in ensembles of high- and low-top CMIP5 models

Trends in the position of the DJF Austral jet have been analysed for multi-model ensemble simulations of a subset of high- and low-top models for the periods 1960-2000, 2000-2050, and 2050-2098 under the CMIP5 historical, RCP4.5, and RCP8.5 scenarios. Comparison with ERA-Interim, CFSR and the NCEP/NCAR reanalysis shows that the DJF and annual mean jet positions in CMIP5 models are equatorward of reanalyses for the 1979-2006 mean. Under the RCP8.5 scenario, the mean jet position in the high-top models moves 3 degrees poleward of its 1860-1900 position by 2098, compared to just over 2 degrees for the low-top models. Changes in jet position are linked to changes in the meridional temperature gradient. Compared to low-top models, the high-top models predict greater warming in the tropical upper troposphere due to increased greenhouse gases for all periods considered: up to 0.28 K/decade more in the period 2050-2098 under the RCP8.5 scenario. Larger polar lower-stratospheric cooling is seen in high-top models: -1.64 K/decade compared to -1.40 K/decade in the period 1960-2000, mainly in response to ozone depletion, and -0.41 K/decade compared to -0.12 K/decade in the period 2050-2098, mainly in response to increases in greenhouse gases. Analysis suggests that there may be a linear relationship between the trend in jet position and meridional temperature gradient, even under strong forcing. There were no clear indications of an approach to a geometric limit on the absolute magnitude of the poleward shift by 2100.

Trends in office rents in the City of London: 1867-1959

This paper details the construction and analysis of a dataset of office lettings, which is used to produce a rent index for the City of London spanning the late nineteenth and early twentieth centuries. It advances prior research through application of a modern version of the repeat measures technique and in coverage of years where office rents have not been previously measured. Results show that there has been no real growth in rents over the period as a whole. However, there have been distinct phases of rental growth and decline that correspond with the wider economic fortunes of the City.

Water quality trends in the Windrush catchment: Nitrogen speciation and sediment interactions

For the predominantly agricultural River Windrush catchment, spatial variations in concentrations of nitrogen species and suspended sediment were strongly related to geology and land use. Temporal patterns of NO3- and NO2- concentrations during the three year study were highly correlated with seasonal variations in baseflow. Suspended sediment concentrations were mainly controlled by storm discharge. Variations in total ammonium concentrations reflected both flow controls. Suspended sediment effects total ammonium and organic nitrogen transport to the aquatic system, and in-stream cycling processes. Organic nitrogen did not display consistent seasonal variations, but concentrations occasionally exceeding those of NO3-. Overall, NO3- and organic nitrogen were the most important at 60% and -40%, of total nitrogen load, respectively. Future assessments of agriculture impact on river water quality should consider the total nitrogen load, and not solely that of NO3-.

Trends in nutrients

The roles of nitrogen (N) and phosphorus (P) as key nutrients determining the trophic status of water bodies are examined, and evidence reviewed for trends in concentrations of N and P species which occur in freshwaters, primarily in northern temperate environments. Data are reported for water bodies undergoing eutrophication and acidification, especially water bodies receiving increased nitrogen inputs through the atmospheric deposition of nitrogen oxides (NOx). Nutrient loading on groundwaters and surface freshwaters is assessed with respect to causes and rates of change, relative rates of change for N and P, and implications of change for the future management of lakes, rivers and groundwaters. In particular, the nature and emphasis of studies for N species and P fractions in lakes versus rivers and groundwaters are contrasted. This review paper primarily focuses on results from North America and Europe, particularly for the UK where a wide range of data sets exists. Few nutrient loading data have been published on water bodies in less developed countries; however, some of the available data are presented to provide a global perspective. In general, N and P concentrations have increased dramatically (>20 times background concentrations) in many areas and causes vary considerably, ranging from urbanization to changes in agricultural practices.

Secular trends in daily precipitation characteristics: greenhouse gas simulation with a coupled AOGCM

Secular trends of daily precipitation characteristics are considered in the transient climate change experiment with a coupled atmosphere-ocean general circulation model ECHAM4/OPYC3 for 1900-2099. The climate forcing is due to increasing concentrations of the greenhouse gases in the atmosphere. Mean daily precipitation, precipitation intensity, probability of wet days and parameters of the gamma distribution are analyzed. Particular attention is paid to the changes of heavy precipitation, Analysis of the annual mean precipitation trends for 1900-1999 revealed general agreement with observations with significant positive trends in mean precipitation over continental areas. In the 2000-2099 period precipitation trend patterns followed the tendency obtained for 1900-1999 but with significantly increased magnitudes. Unlike the annual mean precipitation trends for which negative values were found for some continental areas, the mean precipitation intensity and scale parameter of the fitted gamma distribution increased over all land territories . Negative trends in the number of wet days were found over most of the land areas except high latitudes in the Northern Hemisphere. The shape parameter of the gamma distribution in general revealed a slight negative trend in the areas of the precipitation increase. Investigation of daily precipitation revealed an unproportional increase of heavy precipitation events for the land areas including local maxima in Europe and the eastern United States.

Variability and trends in stratospheric NO2 in Antarctic summer, and implications for stratospheric NOy

NO2 measurements during 1990–2007, obtained from a zenith-sky spectrometer in the Antarctic, are analysed to determine the long-term changes in NO2. An atmospheric photochemical box model and a radiative transfer model are used to improve the accuracy of determination of the vertical columns from the slant column measurements, and to deduce the amount of NOy from NO2. We find that the NO2 and NOy columns in midsummer have large inter-annual variability superimposed on a broad maximum in 2000, with little or no overall trend over the full time period. These changes are robust to a variety of alternative settings when determining vertical columns from slant columns or determining NOy from NO2. They may signify similar changes in speed of the Brewer-Dobson circulation but with opposite sign, i.e. a broad minimum around 2000. Multiple regressions show significant correlation with solar and quasi-biennial-oscillation indices, and weak correlation with El Nino, but no significant overall trend, corresponding to an increase in Brewer-Dobson circulation of 1.4±3.5%/decade. There remains an unexplained cycle of amplitude and period at least 15% and 17 years, with minimum speed in about 2000.

Using rain-use efficiency to explore livestock production trends in rangelands in the Transkei, South Africa

We qualitatively describe the condition of communally managed rangelands in the Transkei, South Africa, using GIS and high resolution near-infrared imagery. Using livestock census data from 28 magisterial districts in the Transkei, we explored the trends in livestock biomass from 1923–1998. The area had been subjected to intensive herbivory by domestic livestock during that period, and the high livestock biomass had been blamed for the perceived degradation or ‘overgrazing’ of the region. Our assessment used the concept rain-use efficiency (RUE) (kg dry matter ha–1 mm–1) to determine whether there is evidence of change in the efficiency of the system to produce domestic livestock. We calculated RUE from annual livestock numbers and the mean annual rainfall for each district. We found no evidence of a decline in rain-use efficiency between the two assessment periods (1923–1944, 1945–1998). There was evidence of a shift in the ratio of sheep to goats between 1923 and 1998, with goat numbers increasing (greater than twofold) relative to sheep in eight districts. This trend may be associated with changes in the structure of vegetation. We conclude that this region is not showing evidence of system run down that affects domestic livestock production.

Identifying trends in domestic electricity consumption in Botswana

Data on electricity consumption patterns relating to different end uses in domestic houses in Botswana is virtually non-existent, despite the fact that the total electricity consumption patterns are available. This can be attributed to the lack of measured and quantified data and in other instances the lack of modern technology to perform such investigations. This paper presents findings from initial studies that are envisaged to bridge the gap. Electricity consumption patterns of 73 domestic households across three cities have been studied. This was carried out through a questionnaire survey, calculated national metering data and electricity measurements. All together nine appliance groups were identified. The results showed the mean electricity consumption for the households considering the calculated consumption from bills and the survey to be t = 4.23; p < 0.000067, two-tailed. The findings of this paper focus on a relatively small sample size (73). It would therefore not be wise to draw sweeping conclusions from the analysis or to make statements that would be aimed at influencing policies. However, the results presented forms a formidable base for further research, which is currently on going.