Beyond natural vacancy: evidencing vacancy throughout market segments

Muldoon-Smith, Kevin, Greenhalgh, Paul and Frodsham, Malcolm (2019) Beyond natural vacancy: evidencing vacancy throughout market segments. In: ERES 2019 - 26th Annual Conference of the European Real Estate Society, 3rd - 6th July 2019, Cergy, France.

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Abstract

Commercial real estate vacancy is a key indicator of property market efficiency, economic performance and urban resilience. However, there has been little conceptual reflection into the abstract notion of vacancy beyond binary distinctions of natural and structural vacancy. Although useful simplifying meta-concepts, neither accounts for the internal complexity and imperfection that permeates real commercial property markets. In response, this paper builds upon a conceptual framework that describes vacancy across the commercial real estate building life-cycle – from initial construction to final demolition and redevelopment. It substantiates the vacancy typology with existing data sets published by government organisations and market information. The originality of the research rests in its utility as the first known evidence based holistic examination of commercial real estate vacancy beyond that of an abstract economic factor.

Item Type:	Conference or Workshop Item (Other)
Subjects:	K400 Planning (Urban, Rural and Regional)
Department:	Faculties > Engineering and Environment > Architecture and Built Environment
Depositing User:	Paul Burns
Date Deposited:	09 Jul 2019 08:34
Last Modified:	10 Oct 2019 17:18
URI:	http://nrl.northumbria.ac.uk/id/eprint/39915

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