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Ownership, occupation and risk: a view of the City of London office market

Lizieri, C., Baum, A. and Scott, P. (2000) Ownership, occupation and risk: a view of the City of London office market. Urban Studies, 37 (7). pp. 1109-1129. ISSN 1360-063X

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To link to this article DOI: 10.1080/00420980020080041

Abstract/Summary

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.

Item Type:Article
Refereed:Yes
Divisions:Henley Business School > International Business and Strategy
ID Code:26489
Publisher:Sage

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