Ownership, Occupation and Risk: A View of the City of London Office Market

Colin Lizieri, Andrew Baum and Peter Scott
Additional contact information
Andrew Baum: Department of Land Management and Development, University of Reading, Whiteknights, Reading, RG66AW, UK, a.e.baum@rdg.ac.uk
Peter Scott: Business History Unit, Portsmouth Business School, University of Portsmouth, Locksway Road, Milton, Southsea, PO4 8JF, UK, scottp@pbs.port.ac.uk

Urban Studies, 2000, vol. 37, issue 7, 1109-1129

Abstract: Office returns in the City of London are more volatile than in other UK markets. This volatility may reflect fluctuations in capital flows associated with changing patterns of ownership and the growing linkage between real estate and financial markets in the City. Using current and historical data, patterns of ownership in the City are investigated. They reveal that overseas ownership has grown markedly since 1985, that owners are predominantly FIRE-sector firms and that there are strong links between ownership and occupation. This raises concerns about future volatility and systemic risk in a market strongly influenced by the cyclical behaviour and shocks of the international financial system.

Date: 2000
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Working Paper: Ownership, Occupation and Risk. A View of the City of London Office Marker (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:37:y:2000:i:7:p:1109-1129

DOI: 10.1080/00420980020080041

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