Book review : Managing government property assets by Olga Kaganova and James McKellar (eds)

Managing Government Property Assets, edited by Olga Kaganova and James McKellar, is reviewed.

Effect of alloying elements on the microstructure-property relationship in thermomechanically processed C-Mn-Si TRIP steels

The effect of additions of Nb, Al and Mo to Fe-C-Mn-Si TRIP steel on the final microstructure and mechanical properties after simulated thermomechanical processing (TMP) has been studied. The laboratory simulations of discontinuous cooling during TMP were performed using a hot rolling mill. All samples were characterised using optical microscopy and image analysis. The volume fraction of retained austenite was ascertained using a heat tinting technique and X-ray diffraction measurements. Room temperature mechanical properties were determined by a tensile test. From this a comprehensive understanding of the structural aspect of the bainite transformation in these types of TRIP steels has been developed. The results have shown that the final microstructures of thermomechanically processed TRIP steels comprise 50 % of polygonal ferrite, 7 - 12 % of retained austenite, non-carbide bainitic structure and martensite. All steels exhibited a good combination of ultimate tensile strength and total elongation. The microstructure-property examination revealed the relationship between the composition of TRIP steels and their mechanical properties. It has been shown that the addition of Mo to the C-Si-Mn-Nb TRIP steel increases the ultimate tensile strength up to 1020 MPa. The stability of the retained austenite of the Nb-Mo steel was degraded, which led to a decrease in the elongation (24 %). The results have demonstrated that the addition of Al to C-Si-Mn-Nb steel leads to a good combination of strength (∼ 940 MPa) and elongation (∼ 30 %) due to the formation of refined acicular ferrite and granular bainite structure with ∼7 - 8 % of stable retained austenite. Furthermore, it has been found that the addition of Al increases the volume fraction of bainitic ferrite laths. The investigations have shown an interesting result that, in the Nb-Mo-Al steel, Al has a more pronounced effect on the microstructure in comparison with Mo. It has been found that the bainitic structure of the Nb-Mo-Al steel appears to be more granular than in the Nb-Mo steel. Moreover, the volume fraction of the retained austenite increased (12 %) with decreasing bainitic ferrite content. The results have demonstrated that this steel has the best mechanical properties (1100 MPa and 28 % elongation). It has been concluded that the combined effect of Nb, Mo, and Al addition on the dispersion of the bainite, martensite and retained austenite in the ferrite matrix and the morphology of these phases is different than effect of Nb, Mo and Al, separately.

A greener house : the sustainable property investor's guide to buying, building and renovating

Sustainability is now an integral part of society and the built environment. Unfortunately many home owners and home-buyers are unaware of the relationship between sustainability and value, especially with regard to the potential added value to their home. Payback periods can be different depending on factors such as the initial capital outlay and the levels of depreciation and obsolescence, as well as savings made (if any) to the running costs of the home

An investigation on the risk perceptions of Australian property fund Managers

Recent empirical and analytical studies have demonstrated that downside risk appears as an intuitively appealing risk measure in which it is more consistent with investors’ behaviour. Conversely, qualitative studies into the behaviour of investors, particularly real estate investors, have been relatively limited. This study seeks to address this shortfall and aims to examine the perceptions of property fund managers towards risk. A survey was conducted to investigate the risk perceptions of property fund managers and determine whether they only require compensation for bearing with higher downside risk. The acceptance level of downside risk is also examined. The findings reveal that downside risk is more consistent with how investors individually perceive risk. However, there is also a gap between theoretical assertions and practice in which downside risk is not commonly used in the practice. The results give an insight into the knowledge base of property investors towards risk, particularly downside risk.

Sustainable property - the future of the New Zealand market

The New Zealand property industry has recently been introduced to the concept of sustainability. Even though targeted measures have been taken by the New Zealand Green Building Council and government, there is considerable hesitation and scepticism existing in the property market from both an investor’s and a building owner’s perspective. This paper discusses the results of an investigation into market perception of sustainable buildings from the investment community in New Zealand. Property investors from New Zealand were surveyed about their perception of sustainable buildings in New Zealand and their actions with regards to their own commercial portfolios, as well as the relationship between sustainability and property investment decisions.

A need for national regulation on property investment advice and marketeering - suggestions put forward

The property investment advice and marketeering industry is currently unregulated in Australia. There is no uniform national or state regulation in this area. The only protection and remedies currently available are those under the general consumer protection laws scattered in various Acts, and even so, these have numerous problems.This article sets out to argue for a new set of laws to regulate property investment advice and marketeering. In providing suggestions for reform, the article also argues that, to overcome the constitutional difficulty, a national co-operative approach is the only way to move forward in this area and suggests that a new regulator be set up to administer and enforce the new proposed laws on property investment advice and marketeering.

Electrospun single-walled carbon nanotube/polyvinyl alcohol composite nanofibers : structure-property relationships

Polyvinyl alcohol (PVA) nanofibers and single-walled carbon nanotube (SWNT)/PVA composite nanofibers have been produced by electrospinning. An apparent increase in the PVA crystallinity with a concomitant change in its main crystalline phase and a reduction in the crystalline domain size were observed in the SWNT/PVA composite nanofibers, indicating the occurrence of a SWNT-induced nucleation crystallization of the PVA phase. Both the pure PVA and SWNT/PVA composite nanofibers were subjected to the following post-electrospinning treatments: (i) soaking in methanol to increase the PVA crystallinity, and (ii) cross-linking with glutaric dialdehyde to control the PVA morphology. Effects of the PVA morphology on the tensile properties of the resultant electrospun nanofibers were examined. Dynamic mechanical thermal analyses of both pure PVA and SWNT/PVA composite electrospun nanofibers indicated that SWNT–polymer interaction facilitated the formation of crystalline domains, which can be further enhanced by soaking the nanofiber in methanol and/or cross-linking the polymer with glutaric dialdehyde.

Behaviours of property investors: an investigation on the risk perceptions of Australian property fund managers

Recent finance and real estate empirical and analytical studies have demonstrated that downside risk appears as an intuitively appealing risk measure in which it is more consistent with investors' behaviours. Conversely, qualitative studies into the behaviours of investors, particularly real estate investors, have been relatively limited. This study seeks to address this shortfall and aims to examine the behaviours of property fund managers towards downside risk. A survey was conducted in order to investigate the risk perceptions of property fund managers and determine whether they only require compensation for bearing with higher downside risk. The acceptance level of downside risk in the property funds industry in Australia is also examined. The findings reveal that downside risk is more consistent with how investors individually perceive risk. However, there is also a gap between theoretical assertions and practice in which downside risk is not commonly used in the practice. The results give an insight into the knowledge base of property investors towards downside risk.

Authorship, authenticity and intellectual property in Australian Aboriginal art

This article analyzes research and legal cases about authorship, authenticity, and intellectual property in Aboriginal art. The concepts of Aboriginality, authenticity, and ownership are used to show the complexities of Aboriginal law, legal copyright, and the moral rights framework. The clan ownership of Dreaming makes Aboriginal artists’ relationship different to other artists’ individual ownership of their work. Research on this topic by members of the Faculty of Business and Law unit of the Centre for Leisure Management Research at Deakin University was undertaken for the Australian Institute of Aboriginal and Torres Strait Islander Studies. This article provides significant contextual analyses of major issues leading to Commonwealth Government inquiries and legislation in Australia during 2006–8.

Property development

David Cadman’s Property Development has long been the standard textbook on the commercial property development process in the UK, and with this fifth edition the book is brought completely up to date for a new generation of readers. Accessible to students of all disciplines within the built environment, the book is geared directly towards students of property development at undergraduate or graduate levels. It provides a clear and practical overview of the property development process, together with critical analysis of the key issues faced by property professionals today.

The fifth edition retains the established structure of previous editions, by focusing on land acquisition, development appraisal, finance, planning, construction, market research and promotion. Additionally, reflecting changes in practice, there is also new material on the environmental impacts of property development, with a chapter on Sustainable Property Development, and on the growth of international working in the property sector. Excellent case studies, which are enhanced by discussion questions, illustrate the process at work. This fully revised and updated edition of a classic text for all property development students will also be of interest to early career professionals and those pursuing a professional degree in the industry.

Australian property law: cases, materials and analysis

"CONTENTS: Concepts of Property; Possession and Title; Fixtures, Encroachment and Boundaries; Adverse Possession; The Doctrine of Tenure and Estates; Leases; Native Title; Equitable Interests; Priority Rules; The Torrens System; Unregistered Interests; Easements; Covenants; Mortgages; Co-ownership."--Provided by publisher.