CONS06030 2019 Commercial Property Management

The module provides the student with an understanding of commercial property both from an operational and asset perspective. It also provides an overview of the role commercial property can play in the business environment if successfully managed.                                                          

The aim of the module is to familiarise students with the concepts of operational and asset management and to identify the links between them. It also aims to ensure that students will understand the role of commercial property in the context of business and the issues that the commercial property manager will face in practice.

In recent years, real estate investment has witnessed an unprecedented internationalisation. However, national markets largely continue to be shaped by domestic law and local business practices. This book provides a comparison of the British and German property markets, which are Europe's most important, and discusses key elements of the economics of leasing. Applying the theory of long-term contracts and the economic analysis of bankruptcy law to leases, it examines in detail the regulations pertaining to rent adjustment and tenant default, which can substantially impact investment performance. The prevailing rent adjustment mechanisms such as rent review and indexation are discussed. A comparison is made of the remedies available to landlords of defaulting tenants under both jurisdictions.

Corporate property is routinely identified as the second biggest cost within a business organization after staff. Effective management of such a major asset requires a fundamental understanding of both the operation of the property markets and the operational requirements of the business occupier. This primer on strategic property management focuses on how property held as a corporate asset can be used to add value to the primary business activity of an organization. Rather than separate the needs of the business form the management of the business estate, the aim of Corporate Property Management is to enable the reader to directly support the primary business function through strategic management of corporate property, thereby adding value to the business as a whole. The book introduces a generic framework designed to assist in the analysis of any corporate property portfolio, working as a practical aid to decision making. The book is structured around this framework, providing a detailed review of its application and uses. This is then developed further through extensive use of five in-depth case studies that covers a wide variety of property types and property users Borders bookshops; Cancer Research high street shops; The Youth Hostel Association; Clifford Chances move to Canary Wharf and the Ardtornish Rural Estate in Scotland.

Property has unique characteristics, both as an investment and as an operational holding. A thorough understanding of this dual role is needed by professionals responsible for maximising a property's full potential. Property Asset Management emphasizes the need for a strategic plan in property management as well as for efficient day-to-day practice.

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RICS www.rics.org

SCSI  www.scsi.ie 

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