All grown up? Market maturity and investment in London's purpose-built student accommodation sector

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nicola Livingstone ◽  
Danielle Sanderson
Keyword(s):  
Local Context ◽  
Research Approach ◽  
Structured Interviews ◽  
Institutional Investment ◽  
Content Type ◽  
Asset Class ◽  
Accommodation Sector ◽  
Using Data ◽  
Original Insight ◽  
The Uk

PurposeThe UK's purpose-built student accommodation (PBSA) sector has seen significant institutional investment in recent decades. This paper unpacks contemporary trends and perspectives on the sector. It questions whether PBSA has moved from being an “alternative” to “mainstream” residential asset class, framing the analysis through the lens of market maturity.Design/methodology/approachThe methods triangulate perspectives drawn from literature on the evolution of PBSA as an asset class with illustrations of investment trends across the UK between 2005 and 2020 using data from Real Capital Analytics (RCA), combined with findings from 40 semi-structured interviews with investors and stakeholders in PBSA in the UK London is the focus of the work, whilst other regional cities are integrated for comparison.FindingsThe results demonstrate that London's PBSA market is ahead of trends currently being replicated in regional cities. However, the regions currently offer greater return potential and opportunities for risk taking compared to London, where yields are compressed, and the market is considered lower risk. The concept of maturity remains useful as a framework for evaluating markets, however a more granular analysis of sectors is necessary to further understand asset classes within sectors. PBSA continues to trade at a premium across the UK; it is considered the most mature residential asset class.Practical implicationsThe emergence of PBSA as an asset class continues to play a developing role within the residential sector and UK investment market. Risk, value and local context remain key when integrating PBSA into institutional portfolios, and as the first to consider the UK market from a qualitative research approach, this research provides a snapshot of these influences in 2021.Originality/valueOur approach offers original insight into investment trends across the UK and is the first to focus reflections on the London market specifically. The research highlights the role of PBSA as a vanguard asset class for investors into residential, situating its growth within the framework of market maturity and drawing out market nuances from interviews.

The problematic differentiation between property bonds and leases in healthcare provision

2015 ◽  
Vol 33 (1) ◽  
pp. 83-94 ◽  
Author(s):  
Andrew Ellison ◽  
Graham Squires ◽  
Patrick Dempsey
Keyword(s):  
Government Regulation ◽  
Property Market ◽  
Structured Interviews ◽  
Healthcare Provision ◽  
Institutional Investment ◽  
Content Type ◽  
Original Insight ◽  
The Uk ◽  
New Instruments ◽  
Insight Into

Purpose – There are some 487,000 places in long-stay residential care and nursing homes in the UK representing an industry worth some £15.2 billion per annum. Creating leases with guaranteed rental uplifts, a property bond in all but name, now attracts significant investment into healthcare. This is argued to be unsustainable, as evidenced by the collapse of Southern Cross Healthcare. The purpose of this paper is to provide insight into institutional investment for sustainable healthcare provision. Design/methodology/approach – It is carried out via a range of unstructured and semi-structured interviews with a purposive sample of a small elite of professionals involved at the summit of this investment market and analysis of secondary literature concerning the wider international property market regarding the way in which advisers and investors view the security and value of these new instruments. Findings – It is found that the differentiation between rental growth and indexed rental uplifts reveal a misunderstanding of the nature of the investment vehicles currently being marketed. Practical implications – The implication of the research, is that much modern private healthcare provision is financially unsustainable, as has begun to be recognised in recent government regulation and guidance. Originality/value – This research provides new and original insight into institutional investment for sustainable healthcare provision

scholarly journals Fraud in overseas aid and the challenge of measurement

2015 ◽  
Vol 22 (2) ◽  
pp. 184-198 ◽  
Author(s):  
Mark Button ◽  
Chris Lewis ◽  
David Shepherd ◽  
Graham Brooks
Keyword(s):  
High Risk ◽  
International Development ◽  
Local Context ◽  
Structured Interviews ◽  
Policy Makers ◽  
Content Type ◽  
The Public ◽  
The Uk ◽  
Practical Implications

Purpose – The purpose of this paper is to explore the challenges of measuring fraud in overseas aid. Design/methodology/approach – The research is based on 21 semi-structured interviews with key persons working in the delivery of aid in both the public and voluntary sectors. It uses the UK Department for International Development as a case study to applying more accurate measures of fraud. Findings – This paper shows there are significant challenges to using fraud loss measurement to gauge fraud in overseas aid. However, it argues that, along with other types of measures, it could be used in areas of expenditure in overseas governments and charities to measure aid. Given the high risk of such aid to fraud, it argues helping to develop capacity to reduce aid, of which measuring the size of the problem is an important part; this could be considered as aid in its own right. Research limitations/implications – The researchers were not able to visit high-risk countries for fraud to examine in the local context views on the challenges of measuring fraud. Practical implications – The paper offers insights on the challenges to accurately measuring fraud in an overseas context, which will be useful to policy-makers in this context. Social implications – Given the importance of as much aid as possible reaching recipients, it offers an important contribution to helping to reduce losses in this important area. Originality/value – There has been very little consideration of how to measure fraud in the overseas aid context, with most effort aimed at corruption, which poses some of the same challenges, as well as some very different challenges.

scholarly journals Critical strategic issues for the integration of facilities management into the development process

2017 ◽  
Vol 35 (4) ◽  
pp. 380-393 ◽  
Author(s):  
Matthew Paul Tucker ◽  
Mohd Rayme Anang Masuri ◽  
Alison Cotgrave
Keyword(s):  
Best Practices ◽  
Best Practice ◽  
Development Process ◽  
Research Approach ◽  
Facilities Management ◽  
Structured Interviews ◽  
Property Development ◽  
Content Type ◽  
Strategic Issues ◽  
The Uk

Purpose The purpose of this paper is to identify the critical strategic issues for the integration of facilities management (FM) into the development process (DP). It explains the factors that limit the integration and recognises the best practices applied in the property development industry in the UK. Design/methodology/approach The study employs a qualitative research approach through semi-structured interviews from the FM and property development industry in the UK. Findings The study discovered that the recognition of FM in the property development industry is encouraging. However, FM has been given a low priority in the property development industry, resulting in facilities managers being inadequately integrated into the DP. Originality/value The paper suggests that it is imperative to understand these strategic issues to promote best practice in the industry that improve the position of FM in the property development industry.

scholarly journals Implementing a HBIM approach to manage the translocation of heritage buildings

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
David Heesom ◽  
Paul Boden ◽  
Anthony Hatfield ◽  
Aneuris De Los Santos Melo ◽  
Farida Czarska-Chukwurah
Keyword(s):  
Digital Simulation ◽  
Research Approach ◽  
Structured Interviews ◽  
New Approach ◽  
Content Type ◽  
Entire Process ◽  
Simulation Techniques ◽  
Heritage Buildings ◽  
Physical Elements ◽  
The Uk

PurposeThe purpose of the paper is to present a study which exploited synergies between the fields of Heritage BIM, conservation and building translocation to develop a new approach to support a digitally enabled translocation process. The translocation (or relocation) of buildings or structures is a niche area of the construction sector and much of the significant work in this field has focused on the relocation of heritage buildings. However, hitherto there was a paucity of work between translocation and the process and technology of BIM.Design/methodology/approachThe study employed a constructive research approach to analyse the phenomenon of heritage translocation. As part of this approach, semi-structured interviews were undertaken with professionals engaged in heritage translocation projects within the UK, and this was supported by a multi-faceted review of literature within the cross cutting themes of translocation and HBIM. Building on the results, a BIM-enabled process was implemented to support the translocation of a 19th-century timber framed building in the UK.FindingsFollowing analysis of results of semi-structured interviews and supported by findings from prevailing literature in the field of translocation and HBIM, a HBIM for Translocation Conceptual Framework (TransHBIM) was developed. Building on the key constructs of the framework, a HBIM-based workflow was implemented to develop a digitally enabled translocation process, which provided a new approach to managing and documenting heritage translocation where disassembly and reconstruction are utilised. The workflow provided a more effective way of documenting individual elements of the building within a digital environment opening up potential for new simulation of the entire process.Originality/valueCurrent approaches to translocation involve traditional/manual methods of recording the building and cataloguing the key heritage elements for all aspects of the process. This new approach implements BIM technologies and processes along with the use of barcode or RFID tags to create a digital bridge between the physical elements of the building and the BIM database. This provides more accurate recording of the heritage and also opens up opportunities to support the process with additional digital simulation techniques enhancing the efficiency of the entire process.

scholarly journals The clothes swapping phenomenon – when consumers become suppliers

2019 ◽  
Vol 23 (3) ◽  
pp. 327-344 ◽  
Author(s):  
Claudia Elisabeth Henninger ◽  
Nina Bürklin ◽  
Kirsi Niinimäki
Keyword(s):  
Supply Chain ◽  
Business Models ◽  
Supply And Demand ◽  
Research Approach ◽  
Fashion Industry ◽  
Structured Interviews ◽  
Collaborative Consumption ◽  
Data Set ◽  
Content Type ◽  
The Uk

PurposeThe purpose of this paper is to explore swap-shops, which emerged as part of the collaborative consumption phenomenon, by investigating what the implications are of consumers acting as suppliers and how this affects supply chain management within the context of the fashion industry.Design/methodology/approachThis study explores the collaborative consumption phenomenon through swap-shops in three countries: the UK, Finland and Germany. In-depth semi-structured interviews were conducted with swappers, non-swappers and organisers. To further enhance the data set six observations of swap-shop events were conducted. Data were transcribed and analysed using multiple coding cycles and using a grounded research approach.FindingsFindings indicate that consumers were most concerned with availability/sizing and quality of garments, whilst organisers felt uncertainty was the biggest issue. Data allowed creating a framework that blueprints the swapping supply chain, in which consumers emerge as suppliers. It highlights possible activities in different cycles, whilst furthermore indicates that consumption cycles can move from monetary (e.g. selling) to non-monetary transactions (e.g. swapping) and vice versa.Practical implicationsSwapping as a relatively new fashion supply mode implies a fluidity of market roles. Disruptive business models can blur boundaries between the supply- and demand-side. This indicates that consumers can change “roles” multiple times as they go through the consumption cycle.Originality/valueThe authors extended the knowledge on swapping by describing how this phenomenon can activate consumers, and extend and intensify the use of garments and therefore swapping can slow the material throughput in the system. It is the first paper to focus solely on swapping within a three country context.

“There is still a perception that homelessness is a housing problem”: devolution, homelessness and health in the UK

2016 ◽  
Vol 19 (2) ◽  
pp. 33-44 ◽  
Author(s):  
Martin Whiteford ◽  
Glenn Simpson
Keyword(s):  
Qualitative Interviews ◽  
Homeless People ◽  
Small Sample ◽  
Issue Salience ◽  
Structured Interviews ◽  
Healthcare Provision ◽  
Policy And Practice ◽  
Content Type ◽  
The Uk ◽  
Comparative Policy

Purpose The purpose of this paper is to provide an exploratory account of the links between devolution, homelessness and health in the UK. Specifically, it focusses on the policy context and governance structures that shape the systems of healthcare for homeless people in London, Scotland, Wales and Northern Ireland. Design/methodology/approach Empirically the paper draws on semi-structured interviews with a small sample of policy and practice actors from the devolved territories. Qualitative interviews were supplemented by a comparative policy analysis of the homelessness and health agenda within the devolved regions. Theoretically, it takes inspiration from Chaney’s concept of the “issue salience of homelessness” and explores the comparative character of healthcare as pertains to homeless people across the devolved territories. Findings The paper provides clear evidence of areas of divergence and convergence in policy and practice between the devolved regions. These features are shown to be strongly mediated by the interplay of two factors: first, the scope and scale of national and local homelessness prevention strategies; and second, intra-national variation in public health responses to homelessness. Originality/value The paper offers considerable insight from a comparative policy perspective into the nature of healthcare provision for homeless people in the devolved regions.

scholarly journals Green business models in the construction sector: an analysis of outcomes and benefits

2018 ◽  
Vol 18 (1) ◽  
pp. 20-42 ◽  
Author(s):  
Amal Abuzeinab ◽  
Mohammed Arif ◽  
Mohd. Asim Qadri ◽  
Dennis Kulonda
Keyword(s):  
Environmental Sustainability ◽  
Business Models ◽  
Dominant Role ◽  
Business Case ◽  
Essential Elements ◽  
Construction Sector ◽  
Structured Interviews ◽  
Content Type ◽  
Green Business ◽  
The Uk

Purpose Green business models (GBMs) in the construction sector represent the logic of green value creation and capture. Hence, the call to examine GBMs is growing ever louder. The aim of this paper is to identify benefits of GBMs by adopting five essential elements of the GBM from the literature: green value proposition; target group; key activities; key resources (KR); and financial logic. Design/methodology/approach In all, 19 semi-structured interviews are conducted with construction sector practitioners and academics in the UK. Thematic analysis is used to obtain benefits of GBMs. Further, the interpretive ranking process (IRP) is used to examine which elements of the GBM have a dominant role in providing benefits to construction businesses. Findings The benefits are grouped into three themes: credibility/reputation benefits; financial benefits; and long-term viability benefits. The IRP model shows that the element of KR is the most important when evaluated against these three benefit themes. Practical implications Linking GBM elements and benefits will help companies in the construction sector to analyse the business case of embracing environmental sustainability. Originality/value This research is one of the few empirical academic works investigating the benefits of GBMs in the construction sector. The IRP method is a novel contribution to GBMs and construction research.

Evolution of top management’s understanding of product quality in Eastern Europe since the end of communism

2017 ◽  
Vol 29 (1) ◽  
pp. 82-100
Author(s):  
Svetoslav Georgiev ◽  
Emil Georgiev
Keyword(s):  
Eastern Europe ◽  
Product Quality ◽  
Quantitative Research ◽  
Business Performance ◽  
Research Approach ◽  
Senior Managers ◽  
Content Type ◽  
Doing Business ◽  
Using Data ◽  
The Impact

Purpose The purpose of this paper is to analyse the evolution of top management’s understanding of product quality in Bulgaria since the end of communism. The study examines three specific areas: top management’s understanding of the term “quality”; top management’s understanding of the relationship between quality and business performance; and top management’s understanding of the impact of job position on quality. Design/methodology/approach The paper relies on a quantitative research approach by using data from a survey of 186 companies in Bulgaria. Findings The paper suggests that senior managers in Bulgaria continue to base their understanding of “quality” on a single approach (*a characteristic of the communist era), with the product-based and the user-based approaches currently being the two most common ones. At the same time, surprisingly enough, this study claims that senior management in Bulgaria is currently well aware of the importance of quality as a dimension of firm’s competitiveness, and is also highly conscious of its roles’ impact on product quality. Research limitations/implications The results of this study are exclusively based on the case of Bulgaria and must be treated with caution in the case of other former communist states from the Central and Eastern Europe (CEE) region. Practical implications This paper has relevance for both managers and companies doing business in Eastern Europe. Originality/value This is the first paper to provide detailed analysis of the evolution of the understanding of “product quality” in CEE since the end of communism. Moreover, this paper applies, for the first time, Garvin’s five approaches to defining quality within a practical context.

scholarly journals Student engagement with sustainability: understanding the value–action gap

2014 ◽  
Vol 15 (4) ◽  
pp. 404-417 ◽  
Author(s):  
Gareth Chaplin ◽  
Paul Wyton
Keyword(s):  
Design Methodology ◽  
Strong Association ◽  
Structured Interviews ◽  
Online Questionnaire ◽  
Sustainable Living ◽  
Content Type ◽  
Lack Of Information ◽  
Significant Barrier ◽  
The Uk ◽  
Insight Into

Purpose – The purpose of this paper is to present the findings of research that aimed to determine what university students living in Unite accommodation in the UK understand about the concept of sustainable living. It considers what barriers they perceive to be standing in the way of following sustainable living practices. In particular, the research aimed to explore any value–action gap for the student population with a view to informing future actions to help close any gap. Design/methodology/approach – The study was completed through an online questionnaire survey of students living in halls of residence operated by provider The Unite Group Plc. The survey informed semi-structured interviews and focus groups that explored the issues raised in greater detail. Findings – It was found that students living in Unite properties believed sustainable living to be important, yet levels of understanding were very low and there appeared to be a wide value–action gap. Reasons for this are varied; however, an unexpected theme emerged around the association of effort and importance. There was a very strong association between sustainable living and recycling, which, therefore, saw the lack of adequate recycling facilities as a significant barrier to sustainable living. There were also issues around a lack of information, cost and respondents’ flatmates as further barriers. However, the most significant barrier was the displacement of responsibility for sustainable living to other people or organisations. Originality/value – Gaining an insight into the complexity of attitude and behaviour of students with the sustainability agenda will enable understanding that can be applied to activities that promote sustainability.

Hedonic experiences at heritage attractions: the visitor’s perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ana Carolina Bender ◽  
Manuela Guerreiro ◽  
Bernardete Dias Sequeira ◽  
Júlio Mendes
Keyword(s):  
Design Methodology ◽  
Theory And Practice ◽  
Structured Interviews ◽  
Content Type ◽  
Heritage Sites ◽  
Exploratory Approach ◽  
Hedonic Experience ◽  
Using Data

Purpose The purpose of this study is to explore the hedonic experience and its formation at heritage attractions. Design/methodology/approach A qualitative and exploratory approach was applied, using data from 21 semi-structured interviews and three in-situ focus groups. Findings Findings highlight that senses, imagery and emotions are stimulated by the physical landscape and by triggers of memorable experiences. Research limitations/implications To further explore this topic, a broader range of heritage attractions and perspectives from the diverse stakeholders involved in the management and consumption of these sites is needed. Originality/value Given the scarcity of research dedicated to the hedonic experience at heritage sites, this study provides a contribution by exploring the visitor’s perspective and points out relevant insights. As the hedonic feelings of pleasure, comfort and related affective responses impact the quality of memorable experiences, relevant implications for theory and practice are discussed.

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