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Commercial Real Estate Development - Essay Example
Author : ernserlenora
Pages 10 (2510 words)
The economic downturn globally has ended up putting a freeze to the real estate development, the world over; therefore it is unlikely to say that demand and supply is the reason affecting the commercial real estate development and regeneration in any part of the world and specifically Central London area…
The current trend as indicated in the recently published, Estate Gazette Feb 2009 states the impact of the economic downturn which has resulted in very low pent up demand as not many can afford to do so and who did have already traded .
Location, layout, storey of building, area, height, storage space, interior decoration and construction framework, possibility to sub lease, inter changeability of formats, ownership distribution, availability of utilities, central air conditioning, and the level of management fee. Each of these factors will be elaborated in detail further, which will help in correctly inferring that supply and demand are not the sole factors affecting the value of commercial real estate and its development and regeneration.
Business Improvement Districts (BIDs) gained popularity because of rising crimes, emerging anti social behavior and the environmental problems. In London this evolved as a quite recent phenomenon where the formal drive occurred for the first time in April 2001. Earlier some private were operating already, but then the government announced its very first. Schemes like Town Centre Management had started in 1980s, which were a part of public private partnerships for the benefit of businesses and other stake holders. ...
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