Ideology and the by-passing of the planning system: case studies of Canary Wharf, London and The Globe, Stockholm

This paper explores the relationship between political ideology and planning in Britain and Sweden, with particular emphasis on the by-passing of the planning system. The prevailing ideology in each country over the last ten years is outlined and the impact on planning identified. The argument is then given in greater depth through case studies of two major projects. For Britain, this involves setting out the main features of Thatcherism and the way that this has changed the purposes underlying planning and created a diversified planning system. This is followed by a case study of Canary Wharf. For Sweden, the consensus culture and the emphasis on participation and decentralisation are discussed. The new planning legislation of 1987 is outlined. These aspects are then contrasted with the fiscal crisis and the development of 'negotiation planning'. These themes are illustrated by a case study of the Globe in Stockholm.

Prehistoric activity in Peterstone Great Wharf Palaeochannels: field survey 2005-6

This is an interim report on research carried out at the intertidal site of Peterstone Great Wharf, located on the Wentlooge Levels, c. 7 km east of Cardiff. The project is the first detailed survey and excavation of a site originally recorded in 1996-7 as part of a larger survey of the intertidal zone from Cardiff to the Second Severn Crossing. The 1997 survey produced important evidence for prehistoric human activity preserved within four palaeochannels. Significant erosion has taken place since then. A new survey of the foreshore has identified additional palaeochannels not seen in 1997 which form part of a more complex system of inter-cutting channels, many containing wood structures including short lines of timbers on the channel edge. Artefacts include a wooden axe handle, antler artefacts, an animal bone assemblage and some pottery of Beaker and Bronze Age date. The finds are thought to derive from a nearby, possibly eroded, settlement. The channels have trapped artefacts and preserved evidence of a range of activities, including what are interpreted as possible boat landings and fishing structures.

A palaeoenvironmental context for terminal upper Palaeolithic and Mesolithic activity in the Colne Valley: offsite records contemporary with occupation at three ways Wharf, Uxbridge

Multi-proxy analyses from floodplain deposits in the Colne Valley, southern England, have provided a palaeoenvironmental context for the immediately adjacent Terminal Upper Palaeolithic and Early Mesolithic site of Three Ways Wharf. These deposits show the transition from an open cool environment to fully developed heterogeneous floodplain vegetation during the Early Mesolithic. Several distinct phases of burning are shown to have occurred that are chronologically contemporary with the local archaeological record. The floodplain itself is shown to have supported a number of rare Urwaldrelikt insect species implying human manipulation of the floodplain at this time must have been limited or episodic. By the Late Mesolithic a reed-sedge swamp had developed across much of the floodplain, within which repeated burning of the in situ vegetation took place. This indicates deliberate land management practices utilising fire, comparable with findings from other floodplain sequences in southern Britain. With similar sedimentary sequences known to exist across the Colne Valley, often closely associated with contemporary archaeology, the potential for placing the archaeological record within a spatially explicit palaeoenvironmental context is great.

“Financial alchemy” or a zero sum game? Real estate finance, securitisation and the UK property market

Following the US model, the UK has seen considerable innovation in the funding, finance and procurement of real estate in the last decade. In the growing CMBS market asset backed securitisations have included $2.25billion secured on the Broadgate office development and issues secured on Canary Wharf and the Trafford Centre regional mall. Major occupiers (retailer Sainsbury’s, retail bank Abbey National) have engaged in innovative sale & leaseback and outsourcing schemes. Strong claims are made concerning the benefits of such schemes – e.g. British Land were reported to have reduced their weighted cost of debt by 150bp as a result of the Broadgate issue. The paper reports preliminary findings from a project funded by the Corporation of London and the RICS Research Foundation examining a number of innovative schemes to identify, within a formal finance framework, sources of added value and hidden costs. The analysis indicates that many of the gains claimed conceal costs – in terms of market value of debt or flexibility of management – while others result from unusual firm or market conditions (for example utilising the UK long lease and the unusual shape of the yield curve). Nonetheless, there are real gains resulting from the innovations, reflecting arbitrage and institutional constraints in the direct (private) real estate market