Briefings in Real Estate Finance最新文献

The outlook for the UK economy is more positive than six months ago. Conditions in the global economy have steadied and UK domestic demand is, if anything, stronger than expected. Business propositions should, however, be examined for vulnerability to various risks – not only the risk of more subdued growth, but also for any vulnerability to a sharp interest rate rise should a ‘boom-bust’ cycle materialise. The risks to the outlook remain marginally weighted to the downside, but the UK remains well placed to recover from a relatively mild and short-lived downturn in the second half of 2002. Copyright © 2002 Henry Stewart Publications

This paper is concerned with accounting for investment properties within the UK. It examines the current requirements for reporting investment properties. The authors then explain the concerns that existing practice cause for accountants within their traditional conceptual framework on understanding the nature of assets. This disquiet emanates from the use of open market value and reference is made to the concerns it engenders. The paper concludes with an analysis of the concerns that those dealing with investment properties should remain vigilant over, both within domestic consultations and forthcoming European and international developments. Copyright © 2001 Henry Stewart Publications

The use of the Internet has grown significantly in private practice surveying firms in recent years. Initially used as a research and communication device, the industry is finding new ways of using this technology. Property valuers have an important role to play in the development of the profession and in some cases it has been suggested that the Internet and new technology may render obsolete the traditional role of the valuer in private practice. This paper sets out to explore whether the suggestions carry any weight. Copyright © 2001 Henry Stewart Publications

When tenants of commercial property default with their rental payments it is often a symptom of a poor landlord and tenant relationship. This can be due to a failure to communicate and seek solutions for financial distress in advance of the point of crisis. This paper examines the number of remedies available to the property owner and the careful thought that should be given to which is most appropriate before embarking on a course of action. The key issues tend to be cost and potential outcome. The Human Rights Act 1998 has introduced doubt over whether the two most popular remedies used to combat rent default are still legally enforceable.

When tenants of commercial property fail to make rental payments in accordance with the provisions of their leases, the astute landlord or managing agent should be well prepared for the eventuality and should have already explored the options available. Experience suggests that for a landlord and tenant relationship to be successful there needs to be a mutual respect and understanding of the parameters each party is operating within. For this to occur, an ongoing dialogue throughout the relationship is required. Copyright © 2001 Henry Stewart Publications

The global recovery has finally taken off, and a buoyant 2004 seems all but assured. This should create opportunities for the UK's trade-exposed sectors, such as manufacturing. With corporate sentiment and balance sheets recovering, business investment is also likely to pick up during the next two years. As a result, GDP growth is forecast to rise to 3 per cent in 2004, its highest level for four years. The Bank of England will respond by raising interest rates, constraining inflationary pressures. But, at an expected peak of 4.75 per cent, borrowing costs should remain low by historic standards. In this environment, prospects for the property sector remain positive. Copyright © 2004 Henry Stewart Publications

The residential investment market in England and Wales is at a crossroads. Private renting in the UK fell from 90 per cent of the housing market at the beginning of the 20th century to 10 per cent at the end. The tide has now just turned and the size of the private rented sector (PRS) is slowly increasing. Large-scale investors are operating at this crossroads both with the remaining portfolios of historic tenancies and also with the first of those which have been set up since the 1988 Housing Act deregulated the market. This paper analyses movements in the market and looks for the rationale behind investors' decisions. Performance reviews and different methods for making profit in the sector are also studied. Finally the alternative exit routes are investigated. Copyright © 2001 Henry Stewart Publications

A transfer of the assets of a property business as a going concern (TOGC) is outside the scope of VAT if certain conditions are met. Some of these require a buyer to do specific things by a certain time but others are dependent on a buyer's intentions or actions after the transfer. Sellers must deal with these contractually. The necessary procedures have been refined in response to Tribunal and Court decisions and they are affected by the VAT anti-avoidance provisions. The ECJ decision in the case of Zita Modes SARL (Case C-479/01) should lead to changes in the rules. Copyright © 2004 Henry Stewart Publications

There is always a danger when writing a paper on the pricing of lending that it will become immediately historic. The market for property finance in the UK is a constantly moving target, probably even considered too erratic by some foreign lenders. However, this is precisely why the UK market is so attractive and, at the end of the day, so liquid. Lending figures are subject to scrutiny, but the most recent Bank of England figures reported some £73bn of debt as at December 2001. This accounted for approximately 9.5 per cent of all reported bank lending in the UK. The issues of capital availability and security values are covered in this paper: these are intrinsically linked and an attempt will be made to cover some of the contemporary micro and macro issues affecting them. Copyright © 2002 Henry Stewart Publications.