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Paper eres2006_149:
GEOGRAPHICAL CONCENTRATION IN THE INSTITUTIONAL MARKET FOR OFFICE PROPERTY IN ENGLAND AND WALES

id eres2006_149
authors Byrne, Peter; Stephen Lee
year 2006
title GEOGRAPHICAL CONCENTRATION IN THE INSTITUTIONAL MARKET FOR OFFICE PROPERTY IN ENGLAND AND WALES
source Book of Abstracts: 13th Annual European Real Estate Society Conference in Weimar, Germany
summary This paper examines the geographical investment practices of institutional investors in the commercial real estate office market in 1998 and 2003 in England and Wales, using some previously unused datasets. The findings show that investors concentrate their holdings in a few (urban) areas and that this concentration is becoming more pronounced as investors rationalise their office holdings. The pre-eminence of the City of London and West End office markets as the key focus of institutional investment is confirmed. The findings also indicate that office investment does not fully correlate with the UK urban hierarchy as measured by population, but is focused on areas with high service sector employment. The question is raised as to the ‘rules’ that fund managers use to decide on where their holdings should be.
keywords offices; institutional investment; spatial concentration
series ERES:conference
type normal paper
discussion No discussions. Post discussion ...
ratings
session 10-D
last changed 2008/11/01 09:47
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