Article

Hossain, S. M. ORCID: https://orcid.org/0000-0002-2002-6123, Van de Wetering, J., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Sayce, S. (2023) UK commercial real estate valuation practice: does it now build in sustainability considerations? Journal of Property Investment & Finance, 41 (4). pp. 406-428. ISSN 1463-578X doi: 10.1108/JPIF-11-2022-0083

Sayce, S. L., Clayton, J., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and van de Wetering, J. (2022) Climate risks and their implications for commercial property valuations. Journal of Property Investment and Finance, 40 (4). pp. 430-443. ISSN 1463-578X doi: 10.1108/JPIF-02-2022-0018

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Lizieri, C. M. and Mansley, N. (2022) Modelling sustainable rents for estimation of long-term or fundamental values of commercial real estate. Journal of Property Research, 39 (1). pp. 30-55. ISSN 1466-4453 doi: 10.1080/09599916.2021.1913441

Black, A. J., Devaney, S. P. ORCID: https://orcid.org/0000-0002-1916-2558, Hendershott, P. H. and MacGregor, B. D. (2021) Adjustments in the labor and real estate markets: estimates of the time series variation in the natural vacancy rate. Journal of Real Estate Literature, 29. ISSN 0927-7544 doi: 10.1080/09277544.2021.2006876

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Scofield, D. (2021) Estimating the value, ownership structure and turnover rate for investible commercial real estate from transaction datasets. Journal of Property Investment & Finance, 39 (4). pp. 336-382. ISSN 1463-578X doi: 10.1108/JPIF-05-2020-0052

Clayton, J., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Sayce, S. and Van de Wetering, J. (2021) Climate risk and real estate prices: what do we know? Journal of Portfolio Management, 47 (10). ISSN 0095-4918 doi: 10.3905/jpm.2021.1.278

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729 (2020) Performance metrics and required returns for UK real estate development schemes. Journal of Property Research, 37 (2). pp. 171-193. ISSN 1466-4453 doi: 10.1080/09599916.2020.1720269

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Livingstone, N., McAllister, P. and Nanda, A. (2019) Capitalization rates and transaction activity in international office markets: a global perspective. Global Finance Journal, 42. 100469. ISSN 1044-0283 doi: 10.1016/j.gfj.2019.04.003

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Scofield, D. and Zhang, F. (2019) Only the best? Exploring cross-border investor preferences in US gateway cities. Journal of Real Estate Finance and Economics, 59 (3). pp. 490-513. ISSN 1573-045X doi: 10.1007/s11146-018-9690-z

Ametefe, F. K., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Stevenson, S. A. (2019) Optimal composition of hybrid/blended real estate portfolios. Journal of Property Investment & Finance, 37 (1). pp. 20-41. ISSN 1463-578X doi: 10.1108/JPIF-04-2018-0022

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Lizieri, C. and McAllister, P. (2018) Can institutional investors bias real estate portfolio appraisals? Evidence from the market downturn. Journal of Business Ethics, 147 (3). pp. 651-667. ISSN 1573-0697 doi: 10.1007/s10551-015-2953-1

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729 (2018) The implied internal rate of return in conventional residual valuations of development sites. Journal of Property Research, 35 (3). pp. 234-251. ISSN 1466-4453 doi: 10.1080/09599916.2018.1457070

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Xiao, Q. (2017) Cyclical co-movements of private real estate, public real estate and equity markets: a cross-continental spectrum. Journal of Multinational Financial Management, 42-43. pp. 132-151. ISSN 1042444X doi: 10.1016/j.mulfin.2017.10.002

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, McAllister, P. and Nanda, A. (2017) Determinants of transaction activity in commercial real estate markets: evidence from European and Asia-Pacific countries. Journal of Property Research, 34 (4). pp. 251-268. ISSN 1466-4453 doi: 10.1080/09599916.2017.1383931

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Scofield, D. (2017) Do ‘foreigners’ pay more? The effects of investor type and nationality on office transaction prices in New York City. Journal of Property Research, 34 (1). pp. 1-18. ISSN 1466-4453 doi: 10.1080/09599916.2017.1299197

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Livingstone, N., McAllister, P. and Nanda, A. (2017) Institutional convergence in real estate markets: a comparative study of brokerage models and transaction costs. Journal of Real Estate Literature, 25 (1). pp. 169-188. ISSN 0927-7544

Sanderson, D. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2017) Occupier satisfaction and its impact on investment returns from UK commercial real estate. Journal of Property Investment & Finance, 35 (2). pp. 135-159. ISSN 1463-578X doi: 10.1108/JPIF-10-2016-0077

Scofield, D. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2017) What sells in a crisis? Determinants of sale probability over a cycle and through a crash. Journal of Property Investment & Finance, 35 (6). pp. 619-637. ISSN 1463-578X doi: 10.1108/JPIF-02-2017-0013

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, McAllister, P. and Nanda, A. (2017) Which factors determine transaction activity across US Metropolitan office markets? Journal of Portfolio Management, 43 (6). pp. 90-104. ISSN 0095-4918 doi: 10.3905/jpm.2017.43.6.090

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Nanda, A. (2016) Which factors drive rental depreciation rates for office and industrial properties? Journal of Real Estate Research, 38 (3). pp. 359-392. ISSN 0896-5803

Xiao, Q. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2016) Are mortgage lenders guilty of the housing bubble? A UK perspective. Applied Economics, 48 (45). pp. 4271-4290. ISSN 1466-4283 doi: 10.1080/00036846.2016.1156231

Ametefe, F., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Marcato, G. ORCID: https://orcid.org/0000-0002-6266-4676 (2016) Liquidity review: dimensions, causes, measures and empirical applications in real estate markets. Journal of Real Estate Literature, 24 (1). pp. 1-29. ISSN 0927-7544

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Scofield, D. (2015) Liquidity and the drivers of search, due diligence and transaction times for UK commercial real estate investments. Journal of Property Research, 32 (4). pp. 362-383. ISSN 1466-4453 doi: 10.1080/09599916.2015.1089924

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2014) Measuring European property investment performance: comparing different approaches. Journal of European Real Estate Research, 7 (1). pp. 112-132. ISSN 1753-9269 doi: 10.1108/JERER-10-2013-0022

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Scofield, D. (2013) Broker use and the cost of liquidity in commercial real estate investment. Journal of European Real Estate Research, 6 (3). pp. 279-302. ISSN 1753-9269 doi: 10.1108/JERER-06-2013-0010

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Law, V. (2012) Rental depreciation and capital expenditure in the UK commercial real estate market, 1993–2009. Journal of Property Research, 29 (3). pp. 227-246. ISSN 1466-4453 doi: 10.1080/09599916.2012.679009

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Roberts, D. (2012) Who gets the jobs? Factors influencing the employability of property and construction graduates in the UK. Construction Management and Economics, 30 (3). pp. 233-246. ISSN 0144-6193 doi: 10.1080/01446193.2011.654233

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Martinez Diaz, R. (2011) Transaction based indices for the UK commercial real estate market: an exploration using IPD transaction data. Journal of Property Research, 28 (4). pp. 269-289. ISSN 1466-4453 doi: 10.1080/09599916.2011.601317

Laing, R., Buda, G., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Roberts, D. (2011) Built environment higher education in Scotland: pressures, challenges and change in uncertain times. CEBE Transactions, 8 (1). pp. 41-59. ISSN 1745-0322

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Law, V. (2011) Benchmarking and valuation issues in measuring depreciation for European office markets. Journal of European Real Estate Research, 4 (1). pp. 7-28. ISSN 1753-9269 doi: 10.1108/17539261111129443

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2010) Trends in office rents in the City of London: 1867-1959. Explorations in Economic History, 47 (2). pp. 198-212. ISSN 0014-4983 doi: 10.1016/j.eeh.2009.11.001

Baum, A. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2008) Depreciation, income distribution and the UK REIT. Journal of Property Investment and Finance, 26 (3). pp. 195-209. ISSN 1463-578X doi: 10.1108/14635780810871597

Callender, M., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Sheahan, A. and Key, T. (2007) Risk reduction and diversification in UK commercial property portfolios. Journal of Property Research, 24 (4). pp. 355-375. ISSN 1466-4453 doi: 10.1080/09599910801916279

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Lee, S. and Young, M. S. (2007) Serial persistence in individual real estate returns in the UK. Journal of Property Investment & Finance, 25. pp. 241-273. ISSN 1463-578X doi: 10.1108/14635780710746911

Lee, S. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2007) The changing importance of sector and regional factors in Real Estate returns: 1987-2002. Journal of Property Research, 24. pp. 55-69. ISSN 1466-4453 doi: 10.1080/09599910701297671

Young, M., Lee, S. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2006) Non-normal real estate return distributions by property type in the UK. Journal of Property Research, 23 (2). pp. 109-133. ISSN 1466-4453 doi: 10.1080/09599910600800302

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Lizieri, C. (2005) Individual assets, market structure and the drivers of return. Journal of Property Research, 22 (4). pp. 287-307. ISSN 1466-4453 doi: 10.1080/09599910600558504

Book or Report Section

Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2019) Appraisal-based indices. In: MacGregor, B. D., Schulz, R. and Green, R. K. (eds.) Routledge Companion to Real Estate Investment. Routledge, Abingdon, pp. 172-191. ISBN 9781138020788

Report

Clayton, J., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Sayce, S. and Van de Wetering, J., (2021) Climate Risk and commercial property values: a review and analysis of the literature. Report. United Nations Environment Programme Finance Initiative

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Lizieri, C. M., Mansley, N. and Wang, Z., (2020) Long-term value methodologies in commercial real estate lending - main report. Long-term value methodologies and real estate lending. Report. Investment Property Forum, London. pp122.

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Lizieri, C. M., Mansley, N. and Wang, Z., (2020) Long-term value methodologies in commercial real estate lending - appendices. Report. Investment Property Forum, London.

Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, (2020) Long-term value methodologies in commercial real estate lending : comparison of property market indices. Report. Investment Property Forum, London.

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2019) Performance metrics, required returns and achieved returns for UK real estate development. Project Report. Royal Institution of Chartered Surveyors

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2018) Residual land values: measuring performance and investigating viability. IPF Research Programme Major Report. Report. Investment Property Forum, London. pp56.

Crosby, N., Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Wyatt, P. ORCID: https://orcid.org/0000-0002-9091-2729, (2017) The implied internal rate of return in conventional residual valuations of development sites. Working Papers in Real Estate & Planning. 03/17. Working Paper. University of Reading, Reading. pp14.

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Livingstone, N., McAllister, P. and Nanda, A., (2016) Unravelling liquidity In international commercial real estate markets. Report. IPF Research Programme, London.

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, McAllister, P. and Nanda, A., (2016) Which factors determine liquidity across US metropolitan office markets? Real Estate Research Institute (RERI)

Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, (2013) Constructing an effective rental value index. Short Paper. 18. Report. Investment Property Forum, london.

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, (2013) Measuring European real estate investment performance: A comparison of different approaches. Working Papers in Real Estate & Planning. 10/13. Working Paper. University of Reading, Reading. pp23.

Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, Xiao, Q. and Clacy-Jones, M., (2012) Listed and direct real estate investment: a European analysis. Report. European Public Real Estate Association, Brussels.

Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558, (2011) Depreciation of commercial investment property in the UK. Report. Investment Property Forum, london. pp28.

Conference or Workshop Item

Pain, K. ORCID: https://orcid.org/0000-0003-1451-9252, Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 and Akakandelwa, N. (2016) Social networks and sales transactions in South African office markets. In: 16th AfRES Annual Conference, Addis Ababa, Ethiopia, pp. 291-312.

Book

Baum, A. E., Crosby, N. and Devaney, S. ORCID: https://orcid.org/0000-0002-1916-2558 (2021) Property investment appraisal. 4th edition. Wiley-Blackwell, pp320. ISBN 9781118399552