The role of undisclosed reserves in English open outcry auctions

This study considers the role that reserve prices may play in residential property auctions. In comparison to much of the previous empirical work, this study has access to undisclosed reserve prices from English auctions. Consistent with theoretical arguments in the auction literature, the results obtained illustrate that whilst higher reserve prices increase the revenue obtained for the seller, they also reduce the probability of sale. The findings also highlight the importance of auction participation, with the number of individual bidders and the number of bids significant in most specifications.

The take-up of Neighbourhood Planning in England 2011-2015

Exploration of how neighbourhoods and others have responded to the UK government’s localism agenda in England, and specifically towards Neighbourhood Planning (NP), is important given that NP is a prominent part of that policy agenda. It is also of interest as the ramifications emerge for planning practice in the formal introduction of statutory plans which are ostensibly led by communities (Parker et al, 2015; Gallent, 2013). There is a necessary task to provide critical commentary on the socio-economic impact of localist policy. The paper explores the issues arising from experience thus far and highlights the take-up of Neighbourhood Planning since 2011. This assessment shows how a vast majority of those active have been in parished areas and in less-deprived areas. This indicates that government needs to do more to ensure that NP is accessible and worthwhile for a wider range of communities.

The role of Planning Aid England in supporting communities’ engagement in planning

In considering the position of community engagement within planning in a time of neo-liberalism and a context of ‘neo-communitarian localism’ (cf. Jessop, 2002; DeFilippis, 2004), this paper reviews the role and relevance of Planning Aid in terms of its performance and aspirations in guiding and transforming planning practice (Friedmann, 1973; 1987; 2011) since its inception in 1973. In doing this we reflect on the critiques of Planning Aid performance provided by Allmendinger (2004) and bring the account up-to-date following on from past considerations (e.g. Bidwell and Edgar, 1982; Thomas, 1992; Brownill and Carpenter, 2007a,b; Carpenter and Brownill, 2008) and prompted by the 35 years since the University of Reading produced the first published work reviewing Planning Aid (Curtis and Edwards, 1980). Our paper is timely given renewed attacks on planning, the implementation of a form of localism and reductions in funding for planning in a time of austerity. Our view is that the need for forms of ‘neo-advocacy’ planning and community development are perhaps even more necessary now, given the continuing under-representation of lower income groups, minority groups and to allow for the expression of alternative planning futures. Thus further consideration of how to ensure that Planning Aid functions are sustained and understood requires the attention of policymakers and the planning profession more widely.

Determinants of satisfaction amongst tenants of UK Offices

Purpose – Corporate Occupiers require offices and services which meet their business needs, whilst landlords must attract and retain occupiers in order to maximise occupancy and rental income. The purpose of this research is to help landlords and corporate occupiers understand each other better, in order to achieve a mutually beneficial relationship. Design/methodology/approach - This paper analyses interviews with 1334 office tenants in the UK, conducted over an 11-year period, to investigate determinants of occupier satisfaction, loyalty and advocacy. Structural equation modelling and regressions are performed using respondents’ ratings of satisfaction with many aspects of occupancy as explanatory variables. The dependent variables include satisfaction with property management, value for money, overall occupier satisfaction, lease renewal intentions and occupiers’ willingness to recommend their landlord. Findings - The aspects with most impact on occupiers’ satisfaction are the office building itself, its location and amenities, and also communication with their property manager, a belief that their business needs are understood and the property manager’s responsiveness to occupiers’ requests. Occupiers’ loyalty depends mainly upon feeling that their rent and service charges provide value for money, an amicable leasing process, the professionalism of their property manager and the Corporate Social Responsibility of the Landlord. ‘Empathy’ is crucial to occupiers’ willingness to recommend their landlord, and clear documentation and efficient legal process improve occupiers’ perception of receiving ‘Value for Money’. Research Limitations - The sample is skewed towards occupiers of prime office buildings in the UK, owned by landlords who care sufficiently about their tenants to commission studies into occupier satisfaction. Practical implications - This research should help to improve the landlord – tenant relationship, benefitting the businesses that rent property and helping building managers understand where to focus their efforts to achieve maximum effect on occupier satisfaction, loyalty and advocacy. Originality/value - There has been little academic research into the determinants of satisfaction of occupiers of UK commercial property. This large-scale study enables the most influential factors to be identified and prioritised.

The calculative turn in land value capture: lessons from the English planning system

For over three decades, negotiated planning obligations have been the primary form of land value capture in England. Diffusing and evolving over the last decade, a significant policy innovation has been the use of financial calculations to estimate the extent to which policies on planning obligations for actual, proposed development projects and in plan making affect the financial viability of development. This paper assesses the extent to which the use of financial appraisals has provided a robust, just and practical procedure to support land value capture. It is concluded that development viability appraisals are saturated with intrinsic uncertainty and that land value capture that is based on such calculations is, to some extent, capricious. In addition, clear incentives for developers and land owners to bias viability calculations, the economic dependence of many viability consultants on developers and land owners, a lack of transparency, contested or ambiguous guidance and the opportunities created by input uncertainty for bias are further failings. It is argued that how viability calculations are applied has been, is being and will continue to be shaped by power relations.

IAS 40 ur ett Nordenperspektiv : Jämförelse av regelverkets efterlevnad 2014 jämfört med 2009

Börsnoterade bolag ska i sin koncernredovisning redovisa enligt IFRS och förvaltningsfastigheter skall redovisas enligt IAS 40 Förvaltningsfastigheter. Detta examensarbete undersöker hur Nordiska börsnoterade bolag tillämpar vissa punkter inom IAS 40 i 2014 års redovisning jämfört med 2009 års redovisning. Syftet med undersökningen är att undersöka skillnader mellan de granskade företagens redovisning 2014 och 2009, med utgångspunkten i en tidigare publicerad undersökning (Hedlund & Ersson, 2011). Det som undersöks är om företagen använder samma värderingsmetod, om de informerar om hur värdering av förvaltningsfastigheter skett, om var i resultatrapporten de rapporterar justeringar av verkligt värde samt hur väl de lämnar upplysningar enligt IAS 40 punkt 75. Undersökningen har skett med en kvantitativ metod då det är årsredovisningar som granskats. Undersökt data är årsredovisningar från 2014 och 2009 för samma företag som granskats i den tidigare undersökningen. Några företag har utgått då de inte ingår i urvalsramen Nordiskt börsnoterat fastighetsbolag. Totalt granskades 14 stycken företag. Resultatet visar att efterlevnaden totalt sett är något bättre 2014 jämfört med den tidigare undersökningen. Till stor del beror det på urvalet där de företag som utgått var dåliga på att lämna upplysningar enligt IAS 40 i 2009 års redovisning. Sett till de företag som är med i båda undersökningarna är efterlevnaden likartad de jämförda åren. Det är få företag som lämnar upplysningar om begränsningar i rätten att sälja förvaltningsfastigheter, avtalsenliga förpliktelser att köpa eller hur de skiljer på rörelsefastigheter och förvaltningsfastigheter. Tolkningen kan då göras att det inte finns någon restriktion eller förpliktelse om det inte lämnas några sådana upplysningar. Om det är ett fastighetsbolag så kan det tolkas som att de inte har några rörelsefastigheter. Med dessa tolkningar blir efterlevnaden bland de undersökta företagen god.

Sacks, Arlyne, interviewed by Margo Derecktor on January 9th, 2010: Audio

Some of the themes discussed are: • Colby—student life (page 2) • Colby—Greek life (3, 8) • Colby—student interaction with Waterville Jews (5, 12) • Holidays (6, 9, 12) • Marriage (6) • Colby—Jewish students from away (8) • Levine’s Store (9) • Food (10) • Occupation—woolen mills (11) • Occupation— real estate development (11) • Jewish education (12, 15) • Yiddish (13)

Rosenthal, Bob, interviewed by Becky Muller on January 17, 2009: Audio

Some of the themes discussed are: • Civic engagement (2) • The Levine family (2) • High school—private (3) • Colby (4) • Colby—student interaction with Waterville Jews (5) • Dating (6, 7, 18-20) • Life in Waterville (8, 10) • Life in Waterville—movies (12-13) • Colby—Greek life (9) • Colby—administration (9-10) • Occupation—real estate development (10-12, 13, 17) • Camp—Arcadia (13-14) • Military service (16) • Civic engagement (22) • Jewish education (23) • Holidays (23-24)

Rosenthal, Bob, interviewed by Becky Muller on January 17, 2009: Audio Part Two

Some of the themes discussed are: • Civic engagement (2) • The Levine family (2) • High school—private (3) • Colby (4) • Colby—student interaction with Waterville Jews (5) • Dating (6, 7, 18-20) • Life in Waterville (8, 10) • Life in Waterville—movies (12-13) • Colby—Greek life (9) • Colby—administration (9-10) • Occupation—real estate development (10-12, 13, 17) • Camp—Arcadia (13-14) • Military service (16) • Civic engagement (22) • Jewish education (23) • Holidays (23-24)

Sacks, Arlyne, interviewed by Margo Derecktor on January 9th, 2010: Transcript

Some of the themes discussed are: • Colby—student life (page 2) • Colby—Greek life (3, 8) • Colby—student interaction with Waterville Jews (5, 12) • Holidays (6, 9, 12) • Marriage (6) • Colby—Jewish students from away (8) • Levine’s Store (9) • Food (10) • Occupation—woolen mills (11) • Occupation— real estate development (11) • Jewish education (12, 15) • Yiddish (13)

Rosenthal, Bob, interviewed by Becky Muller on January 17, 2009: Transcript

Some of the themes discussed are: • Civic engagement (2) • The Levine family (2) • High school—private (3) • Colby (4) • Colby—student interaction with Waterville Jews (5) • Dating (6, 7, 18-20) • Life in Waterville (8, 10) • Life in Waterville—movies (12-13) • Colby—Greek life (9) • Colby—administration (9-10) • Occupation—real estate development (10-12, 13, 17) • Camp—Arcadia (13-14) • Military service (16) • Civic engagement (22) • Jewish education (23) • Holidays (23-24)