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With Office Space In Britain As The World's Most Expensive, Such Represents A ...

With office space in Britain as the world's most expensive, such represents a financial operating burden to an extremely large segment of UK firms. For example, the office rents in Birmingham, a medium sized city, represent costs that are 40 percent higher than in Manhattan in spite of the fact that the costs of construction are approximately half (Cheshire and Hilber, 2006).
Land use regulation in the United Kingdom represents universal growth constraints which consists of aspects that are applied to the total area of urban land take for each city (as well as how such applies) individually to each category of land use within each city (Cheshire and Hilber, 2006). Thus, the preceding results in what are termed ‘urban envelopes' that are fixed by growth boundaries .. whereby within these envelopes the area of land available in terms of utilisation for offices, retail and other industry / commercial uses is all tightly controlled (Cheshire and Hilber, 2006). The foregoing has also established what are termed greenbelts that surround cities, and these have been more or less sacrosanct since they were established .. whereby out of town retail is essentially prohibited, and the expansion of commercial space represents an area that the local planning authorities have been reluctant to grant (Cheshire and Hilber, 2006). In addition to the preceding, there have been a number of preservation designations and height controls on buildings which are aspects of regulation patterns established back in 1947 (Cheshire and Hilber, 2006). Business parks are an affordable office space solution for the UK's, and Scotland's large number of SME's in the face of high central city rent costs.
As previously mentioned, the Convention on Biological Diversity (2007), along with the UK's position on sustainable development (Sustainable-development.gov.uk, 2007) has resulted in investigation on the effects of commercial space utilisation that had previously been rigorously applied to residential construction, and utilisation. Business parks represent an economic solution to providing space to the need for affordable facilities for the UK, and Scotland's huge base of SME's as well as larger corporations. Jones Lang LaSalle (2007) in their Central London Market Report First Quarter 2007 advise that the available supply of office space in London, is at its lowest level since September 2001 and that correspondingly demand is at its highest level since September 2002 ... with the rents in the West End on a continual rise. The evidence of demand in the market is illustrated by its 19% rise over 2005, with the low level of availability maintaining upward rental cost presssure (Jones Lang LaSalle, 2007). The situation in Edinburgh has been responsive to the dictates of the market in that its supply of Grade A high rent space has decreased, with rental costs remaining relatively stable (Jones Lang LaSalle, 2007).

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