Advertisement

Types of Investment

  • David Isaac
Chapter
Part of the Macmillan Building and Surveying Series book series (BASS)

Abstract

The established classification of property investments changed in the 1980s with the addition of high-tech developments, retail warehouses, retail parks, mixed used developments and speciality shops. Workshop conversions with residential or studio space also created an innovative sub-sector. Some of these new categories were encouraged by the changes in planning controls. The Town and Country Planning Use Classes Order 1987 lists the categories of property use and within each classification it is possible to change use without any additional planning consent. This legislation established the class B1, which is a business class allowing movement across the divide from light industrial use to office use. This change caused a remarkable shake-up in the office sector but more so in the industrial sector. Business space became a recognised sector of the investment market dealing with B1 properties, and in addition the concept of business parks was established as opposed to dealing with a block of offices or an industrial estate. The legislation allowed this change of use within the band of uses as long as substantial external physical alterations were not required. However, any change of use which required movement between one class and another required specific consent. Class B1, as well as combining office use with light industrial use, also generally indicated a high-tech usage or specification to the building.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Adams, A. (1996) What Differentiates Grades of Agricultural Land?’, Chartered Surveyor Monthly, July/August, p. 43.Google Scholar
  2. Catalano, A. (1996) ‘Different Strokes’, Estates Gazette, 9 March, p. 139.Google Scholar
  3. Cavanagh, E. (1996) ‘Design: Hot Tin Roof but Not a Cat in Sight’, Estates Gazette, 2 November, pp. 108–9.Google Scholar
  4. Cleaveley, E. S. (1984) ‘The Marketing of Industrial and Commercial Property’, Estates Gazette, London.Google Scholar
  5. Cox, C. (1996) ‘Contract Farming or Letting with a Farm Business Tenancy’, Chartered Surveyor Monthly, July/August, p. 44–5.Google Scholar
  6. Darlow, C. (ed.) (1983) Valuation and Investment Appraisal, Estates Gazette, London.Google Scholar
  7. Davis, Langdon and Everest (1996) ‘Cost Model: Offices of the Future’ Procurement, Building, September, pp. 13–20.Google Scholar
  8. Dubben, N. and Sayce, S. (1991) Property Portfolio Management: An Introduction, Routledge, London.Google Scholar
  9. Edwards, M. (1996) ‘PPG6 and the Future of Retail Development’, Estates Gazette, 29 June, pp. 126–7.Google Scholar
  10. Estates Gazette (1996a) ‘Industry Profile: Fashion Retailing’, Estates Gazette, 6 July, pp. 58–60.Google Scholar
  11. Estates Gazette (1996b) ‘Leisure Development’, Estates Gazette, 20 July, pp. 103–5.Google Scholar
  12. Estates Gazette (1996c) ‘Industry Profile: Food and Drink Industry’, Estates Gazette, 27 July, pp. 41–2.Google Scholar
  13. Estates Gazette (1996d) ‘Teleworking Threat to Office Demand’, Estates Gazette, 31 August, p. 28.Google Scholar
  14. Estates Gazette (1996e) ‘PPG6 Causes Drop in Retail Park Proposals’, Estates Gazette, 21 September, p. 41.Google Scholar
  15. Freedman, C. (1996a) ‘Design for Life’ Estates Gazette, 14 September, pp. 122–3.Google Scholar
  16. Freedman, C. (1996b) ‘Local Loyalties’ Estates Gazette, 5 October, pp. 104–5.Google Scholar
  17. Guy, G. (1994) The Retail Development Process: Location, Property and Planning, Routledge, London.Google Scholar
  18. Hiatt, C. (1996) ‘Irresistible Lure of Green Fields’, Estates Times, 21 June, p. 13.Google Scholar
  19. Hunt, J. (1996) ‘Teleworking Poised to Rise Sharply by 2000’, Property Week, 1 June, p. 7.Google Scholar
  20. Jack, S. (1996) ‘Ever Increasing Circles’, Estates Gazette, 5 October, pp. 108–9.Google Scholar
  21. Lennox, K. (1996) ‘IPD Annual Index: Down But Not Out’, Estates Gazette, 30 March, p. 52.Google Scholar
  22. Mackmin, D. (1994) The Valuation and Sale of Residential Property, Routledge, London.Google Scholar
  23. Marriott, O. (1962) The Property Boom, Hamish Hamilton, London.Google Scholar
  24. Melzack, H. (1990) ‘Sheds Checklist’, CSW Business and Industrial Space Supplement, Chartered Surveyor Weekly, 26 July, p. 42.Google Scholar
  25. Morgan, P, and Walker, A, (1988) Retail Development, Estates Gazette, London.Google Scholar
  26. Morley, S. (1996) ‘The Future for Offices’, Estates Gazette, 3 August, pp. 76–8.Google Scholar
  27. Plender, J (1994) ‘Exploring Foreign Markets’, Estates Gazette, 26 November, p. 68.Google Scholar
  28. Property Journal (1996) ‘PPG6 Makes Progress But Introduces New Problems Says BPF’, Property Journal, British Property Federation, July, p. 3.Google Scholar
  29. Schiller, R. (1996) ‘Town-Centre Winners and Losers’, Estates Gazette, 13 July, pp. 134–5.Google Scholar
  30. Seeley, I. H. (1996) Building Economics, Macmillan, London.Google Scholar
  31. Sieracki, K. (1993) ‘UK Institutional Requirements for European Property’, Estates Gazette, 17 July, pp. 116–18.Google Scholar
  32. Simmons, M (1996) ‘My perfect office’, Estates Gazette, 14 September, pp. 108–110.Google Scholar
  33. Taylor, N. P. (1991) Development Site Evaluation, Macmillan, London.Google Scholar
  34. Worzala, E. (1994) ‘Overseas Property Investments: How Are They Perceived by the Institutional Investor?’, Journal of Property Valuation and Investment, vol. 12, no. 3, pp. 31–47.2CrossRefGoogle Scholar

Copyright information

© David Isaac 1998

Authors and Affiliations

  • David Isaac
    • 1
  1. 1.University of GreenwichUK

Personalised recommendations