Apartment ownership: the English version needs reforming

In this contribution, the English commonhold system, which enables the development of freehold units in a multi-unit development, is critically re-visited. Provision is made for the development of freehold apartments on land with a registered commonhold title. At the date of registration, a management body for the scheme, the commonhold association, must be in place. Each purchaser of a unit in the relevant building obtains freehold property on purchase. The property and management of the building housing the units and of the common areas of the scheme are, by contrast, withheld from unit holders and vested in the commonhold association, which is a special kind of body corporate. Since the coming into force of the English legislation, a set of defects have been detected. This contribution re-assesses the main problem areas and makes a number of reform suggestions drawing on material from a number of jurisdictions, notably South Africa, France and Germany. Avoidable problems are likely to arise with any conversions to commonhold from the predominant English long lease system, owing to the narrowness of the conversion rules. The manner in which ownership of units and the common parts are regulated, a key aspect in any such system, merits re-assessment. It seems that here the English rules survive comparison. The rules pertaining to constitution of the commonhold association fail to provide sufficient safeguards for unpaid scheme creditors. The rules relating leasing of commonhold units seem inadequately thought out. There is a conspicuous absence of real remedies for non-payment of assessments by unit holders. The effect of these and other aspects may help to explain why commonhold has had a limited numerical impact. The time for a second generation reforming statute may have come.

A comparative study of the main mechanisms controlling indoor air pollution in residential flats

The relative contribution of the main mechanisms that control indoor air quality in residential flats was examined. Indoor and outdoor concentration measurements of different type pollutants (black carbon, SO2, O3, NO, NO2,) were monitored in three naturally ventilated residential flats in Athens, Greece. At each apartment, experiments were conducted during the cold as well as during the warm period of the year. The controlling parameters of transport and deposition mechanisms were calculated from the experimental data. Deposition rates of the same pollutant differ according to the site (different construction characteristics) and to the measuring period for the same site (variations in relative humidity and differences in furnishing). Differences in the black carbon deposition rates were attributed to different black carbon size distributions. The highest deposition rates were observed for O3 in the residential flats with the older construction and the highest humidity levels. The calculated parameters as well as the measured outdoor concentrations were used as input data of a one-compartment indoor air quality model, and the indoor concentrations, the production, and loss rates of the different pollutants were calculated. The model calculated concentrations are in good agreement with the measured values. Model simulations revealed that the mechanism that mainly affected the change rate of indoor black carbon concentrations was the transport from the outdoor environment, while the removal due to deposition was insignificant. During model simulations, it was also established that that the change rate of SO2 concentrations was governed by the interaction between the transport and the deposition mechanisms while NOX concentrations were mainly controlled through photochemical reactions and the transport from outdoors.

Shovel ready? An empirical investigation of stalled residential sites.

Drawing upon a national database of unimplemented planning permissions and 18 in-depth case studies, this paper provides both a quantitative and qualitative analysis of the phenomenon of stalled sites in England. The practical and conceptual difficulties of classifying sites as stalled are critically reviewed. From the literature, it is suggested that planning permission may not be implemented due to lack of financial viability, strategic behaviour by landowners and house-builders and other problems associated with the development process. Consistent with poor viability, the analysis of the national database indicates that a substantial proportion of the stalled sites is high density apartment development and/or is located in low house value areas. The case studies suggest that a combination of interlinked issues may need to be resolved before a planning permission can be implemented. These include; the sale of the land to house-builders, re-negotiation of the planning permission and, most importantly, improvement in housing market conditions.

On the predictive content of leading indicators: the case of U.S. real estate markets

This paper employs a probit and a Markov switching model using information from the Conference Board Leading Indicator and other predictor variables to forecast the signs of future rental growth in four key U.S. commercial rent series. We find that both approaches have considerable power to predict changes in the direction of commercial rents up to two years ahead, exhibiting strong improvements over a naïve model, especially for the warehouse and apartment sectors. We find that while the Markov switching model appears to be more successful, it lags behind actual turnarounds in market outcomes whereas the probit is able to detect whether rental growth will be positive or negative several quarters ahead.

Samuel Beckett's digital library

A digital reconstruction of Samuel Beckett's personal library, based on the volumes preserved at his apartment in Paris, in archives (Beckett International Foundation) and private collections (James and Elizabeth Knowlson Collection, Anne Atik, Noga Arikha, Terrence Killeen,...).