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Friction and inertia: business change, corporate real estate portfolios and the UK office market

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Gibson, V. and Lizieri, C., (1998) Friction and inertia: business change, corporate real estate portfolios and the UK office market. Working Papers in Land Management & Development. 03/98. Working Paper. University of Reading, Reading. pp18.

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Abstract/Summary

It has been asserted that business reorganisation and new working practices are transforming the nature of demand for business space. Downsizing, delayering, business process reengineering and associated initiatives alter the amount, type and location of space required by firms. The literature has neglected the impact of real estate market structures on the ability of organisations to successfully implement these new organisational forms or contemporary working practices. Drawing from UK research, the paper demonstrates that, while new working practices are widespread, their impact on the corporate real estate portfolio is less dramatic than often supposed. In part, this is attributed to inflexibility in market structures which constrains the supply of appropriate space.

Item Type:Report (Working Paper)
Divisions:Henley Business School > Real Estate and Planning
ID Code:27228
Uncontrolled Keywords:Corporate Real Estate; Flexibility; Business Change; Working Practices; Appraisal; Office Demand
Publisher:University of Reading
Publisher Statement:The copyright of each working paper remains with the author. If you wish to quote from or cite any paper please contact the appropriate author; in some cases a more recent version of the paper may have been published elsewhere.

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