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9% With Offices The Top Performing Sector Followed By Industrial (jones Lang ...

9% with offices the top performing sector followed by industrial (Jones Lang LaSalle, 2007). The high costs of central city space throughout the United Kingdom as well as the need to provide facilities to the SME sector has thus contributed to the popularity of business parks.
Evidence of the concerns of citizens in consort with the precepts of the Convention on Biological Diversity (2007) can be found in the petition filed by Edinburgh residents to save a playpark (that has been) earmarked for the building of an office block representing a massive redevelopment around the site of the Fountainbridge brewery (Archer, 2006). The concern also includes what petitioners call the loss of open space which benefits the whole community (Archer, 2006). The density problem as well as rental costs are contributing to a ten year low in office space on the Glasgow area, according to an article in The Scotsman (2007). Ken McInnes of Ryden, a large commercial property firm (Ryden, 2007) advises that there is a tightening of supply of both Grade A and Grade B space set to continue in Edinburgh, thus out of town locations, business parks, will become an increasingly attractive option for footloose occupiers (The Scotsman, 2007). Locations such as GSO Business Park (2007), along with Peel Park in East Kilbridge (2007), the Strathclyde Business Park in Bellshill (2007), and Hamilton International Business Park (2007) offer tenants ample parking, 4 Star Hotels, shopping in the nearby locale, fitness clubs, new cable telecommunications wiring, highway access, spacious accommodations, a park like tree-lined setting, and all of the features of a central city location specifically designed for the business class tenants at lower rental prices. Andy Cunningham of Cushman and Wakefield in Glasgow, stated that the business parks are well placed to capitalise on pent-up demand and offer top quality Grade A space at competitive rents, with excellent transport links (The Scotsman, 2007).
The foregoing is a classical example of what Ball et al (1998, p. 13) refer to as microeconomics, which is an analysis that investigates production and consumption decision-making and their influence on the allocation of resources within an economy, an offshoot of technological innovations in computer software planning programs. They add that (Ball et al, 1998, p. 13):
Microeconomics has two broad approaches. The first is that of partial analysis: the examination of one market in isolation. This is accomplished by assuming that everything outside the subject market is held constant. In the second approach, general equilibrium, all markets are examined simultaneously. In the analysis of property markets, the partial approach is most fruitful and is adopted here.


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