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Evaluating British science parks as property investment opportunities

Simon Gower (Simon Gower is a Research Student Head of School, at the School of Construction, Engineering & Technology within the University of Wolverhampton)
Frank Harris (Frank Harris is Head of School, at the School of Construction, Engineering & Technology within the University of Wolverhampton)

Journal of Property Valuation and Investment

ISSN: 0960-2712

Article publication date: 1 May 1996

Abstract

Reports reports the findings of a survey of science park managers and directors in the last quarter of 1994. The development of science parks in Britain has been heavily reliant on investment from public sector sources. A notable reluctance on the part of private sector investors has been a consistent feature. Science parks have, though, seen near continuous growth in their number, in total tenancies and in their rental and capital values; and have sustained relatively high average occupancy levels throughout their brief history. The findings of the survey, thus, draw attention to the various determinants of these apparent successes and highlight the manner in which these determinants may instil disquiet in private sector investors as to the prospects of science parks as investment opportunities. Finds that public sector patronage and philanthropic motives remain high on the agenda of science parks but growing recognizance of the need to secure commercial viability may expedite the improvement of their potential investment profile.

Keywords

Citation

Gower, S. and Harris, F. (1996), "Evaluating British science parks as property investment opportunities", Journal of Property Valuation and Investment, Vol. 14 No. 2, pp. 24-37. https://doi.org/10.1108/14635789610112646

Publisher

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MCB UP Ltd

Copyright © 1996, MCB UP Limited