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Obsolescence and performance in the Central London office market

Richard Barras (Property Market Analysis, London, UK)
Paul Clark (Property Market Analysis, London, UK)

Journal of Property Valuation and Investment

ISSN: 0960-2712

Article publication date: 1 October 1996

1743

Abstract

Presents results of an investigation into the rate of rental and capital obsolescence in the City of London office market. Using a theoretical approach based on a “vintage model” of capital investment and data from the IPD database, assesses the historic rate of obsolescence in the City and draws comparisons with previous studies, finding similar rates of rental obsolescence (1.2 per cent p.a.), but lower rates of capital obsolescence (1.6 per cent p.a.). Considers the potential for an acceleration in the rate of obsolescence resulting from the introduction of new working practices and the emergence of an endemic over‐supply in the market.

Keywords

Citation

Barras, R. and Clark, P. (1996), "Obsolescence and performance in the Central London office market", Journal of Property Valuation and Investment, Vol. 14 No. 4, pp. 63-78. https://doi.org/10.1108/14635789610153470

Publisher

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MCB UP Ltd

Copyright © 1996, MCB UP Limited

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