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1 – 10 of over 23000Hazel Easthope, Laura Crommelin, Charles Gillon, Simon Pinnegar, Kristian Ruming and Sha Liu
High-density development requires large land parcels, but fragmented land ownership can impede redevelopment. While earlier compact city development in Sydney occurred on…
Abstract
Purpose
High-density development requires large land parcels, but fragmented land ownership can impede redevelopment. While earlier compact city development in Sydney occurred on large-scale brownfield sites, redeveloping and re-amalgamating older strata-titled properties is now integral to further densification. The purpose of this study is to examine collective sales activity in one Sydney suburb where multiple strata-titled redevelopments and re-amalgamations have been attempted. The authors explore how owners navigate the process of selling collectively, focusing on their experience of legislation introduced to facilitate this process, the Strata Schemes Development Act 2015 [New South Wales (NSW)].
Design/methodology/approach
By reviewing sales listings, development applications and media coverage, and interviewing owners, lawyers and estate agents, the authors map out collective sale activity in a case study area in Sydney’s northwest.
Findings
Strata collective sales are slow and difficult to complete, even when planning and market drivers align. Owners find the Strata Scheme Development Act 2015 (NSW) difficult to navigate and it has not prevented strategic blocking attempts by competing developers. The long timelines required to organise collective sales can result in failure if the market shifts in the interim. Nonetheless, owners remain interested in selling collectively.
Originality/value
This case study is important for understanding the barriers to redevelopment to achieve a more compact city. It highlights lessons for other jurisdictions considering similar legislative changes. It also suggests that legislative change alone is insufficient to resolve the planning challenges created by hyper-fragmentation of land through strata-title development.
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The paper aims to consider how collective sales may be achieved more effectively and speedily in the Singaporean context.
Abstract
Purpose
The paper aims to consider how collective sales may be achieved more effectively and speedily in the Singaporean context.
Design/methodology/approach
Through an examination of Singaporean legislation, cases, market conditions and the residential price index, a range of factors has been identified as affecting the success rate of collective sales.
Findings
The paper shows that in the face of radical legislation that aimed to facilitate collective sales, there were various other factors that impeded the success rate of collective sales. Some of these factors were within the control of parties, whereas some were not.
Practical implications
The paper points to the flashpoints in the collective sale process which property consultants can be mindful of during negotiations. Suggestions are made for the property consultant to adopt mediation techniques to expedite the process. This will result in time and cost savings for the parties involved.
Originality/value
The paper highlights the interplay of various factors other than legislation to facilitate collective sales. The paper will be of particular value to property consultants involved in negotiating collective sales, and owners of strata titled properties who wish to engage in collective sale of their development.
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The sale of a strata titled development collectively by individual owners is a unique experience in Singapore's real estate industry. This collective sale process is legislated by…
Abstract
Purpose
The sale of a strata titled development collectively by individual owners is a unique experience in Singapore's real estate industry. This collective sale process is legislated by law, which allows dilapidated developments to be redeveloped to take advantage of the site potential. The purpose of this paper is to highlight the nature of strata titled developments, the collective sale process and the various valuation issues encountered.
Design/methodology/approach
A case study approach is adopted to illustrate the mechanics and the difficulties involved in the collective sale process. The different methods of valuation used to arrive at a fair distribution of the sale proceeds are illustrated.
Findings
The study reveals the appropriate methods of distribution of sales proceeds to be used under different circumstances. A few managerial implications arise from the study. These include the need to adopt a fair and reasonable attitude when approaching collective sales and to be in touch with the property market and the target market in order to arrive at a reasonable distribution method of the sale proceeds in order to satisfy the various stakeholders in the development.
Originality/value
The study provides an overall framework on how future collective sales in Singapore can be successfully conducted.
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Eddie C.M. Hui, Joe T.Y. Wong and Janice K.M. Wan
The purpose of this paper is to examine the progress of rehabilitation and redevelopment and review the effectiveness of the Land (Compulsory Sale for Redevelopment) Ordinance…
Abstract
Purpose
The purpose of this paper is to examine the progress of rehabilitation and redevelopment and review the effectiveness of the Land (Compulsory Sale for Redevelopment) Ordinance (LCSRO) (Cap. 545) and proposals that influence the urban renewal process in Hong Kong.
Design/methodology/approach
The study largely relies on the review of the LCSRO and the Government's proposal, and the urban renewal progress. Rehabilitation and redevelopment data was collated and analyzed to assess how effective the renewal process and the Government legislation have been in tackling the urban decay problem in Hong Kong. This study benchmarks the good practices of Singapore.
Findings
The pace of urban renewal activities in Hong Kong is lagging behind its policy goal. The implementation of the urban renewal programme has not adequately resolved the serious problem of ageing buildings. The existing legislation has not been effectively attracting private sector's participation either. The proposed relaxation of the compulsory sale threshold for specified classes of lots under the LCSRO aims to assist private sector‐led redevelopment. However, it is not a panacea for urban decay. Whilst the private sector's participation is facilitated, the Government should consider complementary measures, e.g. the relaxation of such criteria as the building age, plot ratio and height limitation for a more effective and efficient process, particularly in less attractive sites. A careful balance should be maintained in redeveloping different regions in the city. The Government should also be cautious about the negative externalities that might affect to the community.
Practical implications
The paper identifies the implementation gap of urban renewal in Hong Kong. Practical suggestions are made to the Government and related organizations to expedite urban renewal works.
Originality/value
The paper assesses Hong Kong's urban decay problem in a quantitative way. This approach has hardly been applied in a local context. It also highlights important issues relating to private sector involvement in urban renewal activities and various concerns over the proposed changes to the LCSRO. The paper will benefit local policy makers, property developers and professionals in the area. Its results will form a basis for further research on the impact of the proposals on land supply and housing prices after its implementation.
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Sergio Schneider and Marcio Gazolla
In this chapter we examine how the small scale agro-industries located in Southern Brazil, specifically in the North of the State of Rio Grande do Sul, started to deal with…
Abstract
In this chapter we examine how the small scale agro-industries located in Southern Brazil, specifically in the North of the State of Rio Grande do Sul, started to deal with changes in their production processes, how they created and adapted technologies, and devised new products. Among the main outcomes of the study we highlight the novelties observed during the field research, especially regarding the family situation and the agro-manufacturing activities, in which we observed (i) a relative raise in autonomy; (ii) improvement in both the income level and the quality of life of household members; (iii) creation of new nested markets and marketing channels; (iv) development of more environmentally sustainable products; (v) improvement of the value added to food products; and (vi) development of new interfaces between families and other social actors.
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The purpose of this paper is to examine the link between Joseph Schumpeter’s economics and the rise of General Motors (GM).
Abstract
Purpose
The purpose of this paper is to examine the link between Joseph Schumpeter’s economics and the rise of General Motors (GM).
Design/methodology/approach
The paper uses regression analysis and time series analysis of market synchronization.
Findings
There is a strong link between GM rise to dominance of the domestic automobile industry and nuanced features of Schumpeterian economics.
Research limitations/implications
The paper furthers the examination of the role of information economics on marketing channel performance.
Practical implications
Information helps in production decisions by synchronizing production with consumer demand.
Social implications
Economic efficiency enhances the human welfare for better forecasting, lower inventories and greater profits.
Originality/value
This topic has been explored before but methodology used in this paper is innovative. The paper uses Granger causality.
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Stefano Poponi, Alessandro Ruggieri, Francesco Pacchera and Gabriella Arcese
This work aims to assess the potential of a Bio-District as a model for applying the circular economy concerning the waste scope. It aims to understand the capability of organic…
Abstract
Purpose
This work aims to assess the potential of a Bio-District as a model for applying the circular economy concerning the waste scope. It aims to understand the capability of organic farms to manage waste with a circular perspective, starting with the use of indicators that directly or indirectly impact the waste scope.
Design/methodology/approach
This study is based on previous work that identified and systematised the circular indicators of the agri-food sector within a dashboard. With this research as a basis, the indicators within the waste scope in the dashboard were extracted. Cross-linked indicators with an indirect connection to the waste scope were also systematised and tested in a case study. Primary and secondary data were used for the study. The primary data came from a semi-structured interview, and the secondary data were from official databases.
Findings
The work highlights two important results. The first allows the definition of a subclassification of indicators by product and organisation, extracting those with a cross-linked characteristic concerning the waste scope. Secondly, the indicators' application shows the farm's circular and waste valorisation potential within the Bio-District. The study also made it possible to test a new indicator, the “Potential Energy Biomass Recovery”, to measure the farm's potential to produce energy from waste.
Originality/value
This research proposes a new circular economy approach to evaluate waste management in the agri-food sector.
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Irrespective of the importance of collective job crafting for team performance, its antecedents have not been fully comprehended. Drawing upon social cognitive theory, this study…
Abstract
Purpose
Irrespective of the importance of collective job crafting for team performance, its antecedents have not been fully comprehended. Drawing upon social cognitive theory, this study proposes that sales managers’ charismatic leadership interacts with collective proactive personality in predicting collective job crafting, which in turn influences sales teams’ customer relationship performance and financial performance.
Design/methodology/approach
Data were collected from 481 sales employees and 64 sales managers from 64 sales departments of tour companies. These multi-source data were analyzed through structural equation modeling.
Findings
The findings revealed that charismatic leadership was positively associated with sales teams’ collective job crafting, which was in turn positively related to sales teams’ customer relationship performance and financial performance. Collective proactive personality negatively moderated the impact of charismatic leadership on collective job crafting.
Originality/value
This study advances the extant knowledge by identifying the role of collective job crafting in translating charismatic leadership into sales teams’ performance.
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The purpose of this paper is to provide an analysis of the profile and differing perspectives of strata owners (subsidiary proprietors) involved in collective sales in Singapore…
Abstract
Purpose
The purpose of this paper is to provide an analysis of the profile and differing perspectives of strata owners (subsidiary proprietors) involved in collective sales in Singapore. It aims to examine their position within Singapore's legal framework, and consider the repercussions of the power‐play between them.
Design/methodology/approach
The paper utilises legislation and case‐law to reveal the problematic aspects of the collective sale process through majority rule. Similar legislation exists in Hong Kong, South Korea and Taipei. Data on collective sales from real estate information systems and property analysts are also utilised.
Findings
The findings reveal the dichotomy of concerns between different groups of subsidiary proprietors, namely the owner‐occupiers and property investors. This causes delay and acrimony which characterise many collective sale exercises. This is fuelled by a lack of differentiation in the voting rights of the different groups of subsidiary proprietors. However, Parliament and the Courts have been dynamic and sensitive in seeking to strike a balance between the legitimate concerns of both groups.
Originality/value
The findings assist both groups of subsidiary proprietors to be more alert about the pitfalls and profits in a collective sale. Policy makers in other jurisdictions can learn from Singapore's experience of the collectives sale phenomenon as an avenue for urban renewal. It provides insights to the multiple issues which arise when majority rule can dictate the trajectory of collective sales.
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In the light of the property relativist theory, the purpose of this paper is to review the impact of radical amendments to strata legislation in Singapore in 1999 which, together…
Abstract
Purpose
In the light of the property relativist theory, the purpose of this paper is to review the impact of radical amendments to strata legislation in Singapore in 1999 which, together with changes to the planning framework, stimulated private‐sector led redevelopment in Singapore. This was achieved through the introduction of majority rule (rather than unanimity) in collective sales (CS) of strata developments. The paper also addresses the issue of how a balance can be achieved between the property rights of majority and minority strata owners.
Design/methodology/approach
The paper uses case‐studies, planning provisions, and data on property transactions to analyse the effectiveness of the measures taken to address Singapore's land‐scarcity problem. Legal terms and their significance are addressed in a manner that will also be comprehensible to a non‐legally trained readership.
Findings
The cases demonstrate attempts by the authorities to clarify, and to provide a better balance to, the position of those whose property rights had been sacrificed at the altar of redevelopment and urban rejuvenation in Singapore. Nevertheless, there still remain numerous pockets of resistance to CS. These still need to be addressed to reassure the minority in the context of the property relativist theory.
Research limitations/implications
The continued groundswell of protests against collective sale means that there are further issues that need to be addressed to mitigate the plight of the minority. The response of parliament has been reactive, but it remains to be seen whether the minority's concerns have been adequately addressed.
Originality/value
The analysis of the cases, whose decisions turned on the authorities' interpretation of the controversial legislation, is instructive. These can provide valuable pointers for policy makers in other jurisdictions contemplating urban rejuvenation. The twin issues that are dealt with relate to how private‐sector redevelopment can be incentivised through planning measures, without riding roughshod over individuals' private property rights.
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