Industrial and Business Space Development: Implementation and Urban Renewal

Citation

Inalhan, G. (2002), "Industrial and Business Space Development: Implementation and Urban Renewal", Facilities, Vol. 20 No. 3/4, pp. 163-163. https://doi.org/10.1108/f.2002.20.3_4.163.1

Over the last 20 years the property investment market in the UK has reputedly become the most sophisticated in the world. The property market evolved due to a number of influences and in response to a number of situations. Inflation, national economic policies, world trends, entrepreneurial skill, the poor performance of gilts and equities during the 1970s, town planning and taxation have all contributed in different ways to the growth of the present property investment market. Over the last decade British industry has gone through an unprecedented period of restructuring, and urban renewal has now become a major political priority. Under these circumstances those concerned with property investment and property development will be aware of the challenges inner‐city regeneration presents and the attention of all the property professionals has focused on the need for a better appreciation of the industrial and business space sectors in particular.

The book named Industrial and Business Space Development, Implementation and Urban Renewal, emphasizes a need to assess the changing nature of the industrial and business space property market, which has developed out of the recession of the early 1980s.

It offers a comprehensive perspective on how business space development schemes can be initiated and implemented to revitalize urban areas.

The book is structured into four parts; the first part is a contextual overview of the property investment and development market. It explains how the investment and development markets operate, the layout and the design schemes, how they are financed and the development techniques used to appraise their financial viability. Separate sections examine the influences of central government’s economic, fiscal and planning policies, local authority initiatives to revitalize urban areas and the variety of methods to implement new development, including new partnerships and negotiated solutions. Along with a reference section for each chapter, chapters contain useful compilations of data. The table of contents provides an excellent outline of the subject.

The nature of the information given in the book is a combination of an analysis of recent development practice with practical guidance on current procedures, techniques and government incentives

In compiling this book, the authors intend to highlight the wide range of implementation methods available, as applied to industrial and business space developments, detailing the procedural requirements and provide an insight into the skills needed to carry out realistic development appraisals:

We recognize that market fluctuations and economic and political uncertainties may prompt further modifications in the future but trust that in focusing upon established and innovative approaches to implementation, we have made a meaningful contribution to understanding and appreciating the obstacles to, and opportunities for, successfully implementing industrial and business space developments in pursuit of urban renewal strategies.

This would be useful to facility managers involved in an early stage of feasibility, space planning, procurement.