Investment Consequences of Changing Occupier Needs and Obsolescence

Colin A. Jones (c.a.jones@hw.ac.uk) and Edward Trevillion (edward.a.trevillion@hw.ac.uk)
Additional contact information
Colin A. Jones: Heriot-Watt University
Edward Trevillion: Heriot-Watt University

Chapter Chapter 11 in Real Estate Investment, 2022, pp 243-263 from Springer

Abstract: Abstract The chapter focuses on how changing occupier needs are framed by the state of technology and demonstrates how technological advances lead to new built forms in the different sectors. In particular, the emergence of these new forms is shown to replace traditional buildings causing obsolescence in the existing stock. The chapter reveals how no real estate sector is immune from obsolescence and that in turn there are consequences for investment decisions and the composition of portfolios. It defines and examines the causes of obsolescence. In this context, it outlines how new environmental standards encouraged by a new green agenda are promoting greener buildings and a new ‘green label’ for buildings that meet the requisite environmental standards. Changing occupier needs are highlighted in the retail sector where for example the impact of online sales is only the latest of a long line of changes that have impacted on the retail sector with consequences for investment. Finally, the chapter looks at the investment consequences of technological change in the office and warehousing sector, in particular as a result of the improvement in ICT applications.

Keywords: Obsolescence; Green labelled buildings; Retail change; Online sales; Information and communications technology (ICT); Warehousing; Hot desking; Demand for offices; Serviced offices (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-00968-6_11

Ordering information: This item can be ordered from
http://www.springer.com/9783031009686

DOI: 10.1007/978-3-031-00968-6_11

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla (sonal.shukla@springer.com) and Springer Nature Abstracting and Indexing (indexing@springernature.com).