The research investigates the implicit pricing of property attributes by developing a model for office properties within the Central London market.

The model it develops is a cross-sectional inter-temporal hedonic function to model the capitalisation rates observed for office properties within the Central London market.

The purpose of this micro-level study is to examine the pricing of commercial property investments focusing on the determination of capitalisation rates and the property attributes that influence the risk premium between submarkets and across investor/fund types.

The research will inform optimum pricing undertaken by valuers, investors and policy makers by explicitly exploring and extending the understanding of preferences and decision-making of investors in the office sector. It will also enable the quantification of a complex, large qualitative process and enable detailed investigation of investor preferences and behaviour.



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