Running titleAn investigation into the risk perceptions of UK property developers before and during specific office development projects; and their reliance upon a range of risk management techniques in connection with those projects. Key WordsRisk, Risk management, Property development, Offices, Property company 2 Title The Perception and Management of Risk in UK Office Property Development AbstractRisk is an ever-present aspect of business, and risk taking is necessary for profit and economic progress. Speculative property development is popularly perceived as a 'risky business' yet, like other entrepreneurs, developers have opportunities to manage the risks they face; techniques include phasing and joint ventures. The associated areas of investment portfolio risk, development risk analysis and construction risk management have all been addressed by research. This paper presents new knowledge about how developers perceive risks and the means they subsequently adopt to manage them.The developers of office projects across the United Kingdom were sent questionnaires by post. Respondents were asked about their perceptions of risks at the first appraisal stage and currently and about the risk management techniques they had adopted. In-depth interviews with a selection of respondents were then used to discuss and augment the findings.Developers were most concerned about market-based risks at both stages. Concern about production-orientated risks was lower and fell significantly between the two stages. A fixed price contract was the most common risk management technique. Risk management techniques were used more often outside London and the South East. Developer type affects both the perception and management of risk.While developers do manage risk, decisions are made on the basis of professional and business experience. These findings should help development companies manage risk in a more objective and analytical way. 3This paper reports research that aimed to discover how UK office property developers perceive the seriousness of the risks they face and the extent to which they employ risk response tactics. The first section covers theories of risk, distinguishing it from uncertainty and outlining an objective process of risk management. The second section discusses literature applying these concepts to speculative property development and associated fields.The methodology adopted, which had both quantitative and qualitative stages, is then outlined. The results of both stages are presented together firstly with developers' perceptions of various risks. Developers' responses to risk are analysed followed by a section covering regional differences. The limitations of the research are explained before a concluding section. Uncertainty, risk and risk managementThis section will firstly address concepts of risk. Technically biased descriptions of risk focus on concern over hazards and the danger of negative impacts. 'Pure' risks, such as fire, can result in either a loss or no loss (Laster 2001, 20). A hazard has the p...

Protecting stone buildings from weathering and decay is a major challenge in the conservation of built heritage. Most of the stone consolidants currently available are well suited to silicate stones, but are less compatible with limestone. In this paper we present for the first time the results over a 4-year period of various consolidation treatments carried out using nanolime on 6 of the most representative and significant stones used in historic buildings in the United Kingdom. Tests investigated the influence of stone type, environmental conditions and pre-treatments on the effectiveness of the consolidation treatment. A comprehensive and rigorous testing programme was carried out to evaluate the short (12 weeks) and longer-term (4 years) effects. Stone samples were characterised before and after treatment using light and electron microscopy, sorptivity tests and a novel methodology employing drilling resistance to interrogate the near surface effects. Results show that for some of the stones, such as Clunch and Bath Stone, the positive effect of the treatment with nanolime is noticeable after 4 years since application. However, results for other stones such as Portland and magnesian limestone showed that the initial beneficial effect of the treatment is reduced after 4 years. Nanolime treatment of Ham Stone produced an unnoticeable effect on the continuous natural reduction of the drilling resistance of the specimen over time. The results presented are of immense value to conservators as they provide essential guidance on the most appropriate repair approach. Impact to the conservation industry will be to avoid the use of nanolime on stones where there is no perceivable benefit, reducing the risk of adverse effects, including potential damage to buildings. In additional costs will be saved which might otherwise have been spent on ineffective treatments.

Suzanne ToddNaylors, Newcastle upon Tyne, UK Abstract Purpose -The purpose of this research is to investigate development competitions in England in order to uncover any shortcomings and point to improvements. A "development competition" is a sale by tender of publicly-owned land with development potential where bidders also submit designs. Design/methodology/approach -First, an interview survey of local authorities in north-east England; second an interview survey with developers in north-east England; third a questionnaire survey of local authority estates officers and fourth an interview survey with London based property consultants. Findings -Despite their theoretical attractions, some competitions have problems. Conflict exists between professions and agencies. Development competitions encounter difficulties between developer appointment and construction which may lead to delay or the developer pulling out.Research limitations/implications -The data collected are biased in favour of the financial/property perspective. Further research is therefore still required. Practical implications -Despite its practical significance, no literature exists on this specific topic. The results reveal delays, disputes and sub-optimal use of resources. Further research is needed leading to new official guidance covering all aspects of this process. Originality/value -Large numbers of competitions are held in the UK each year. The disposal of sites in this way has become more significant due to the concentration of activity on brown-field land. In future, the need to assemble urban land using compulsory purchase powers is likely to make competitions more frequent. These results, which highlight best practice, will be of interest to all professional people involved.

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Itt recent years rnuch has been written about agricultural structure and the size of agricultural holdings. This article attempts to set the current debate in perspective and relate it to economic growth. Startirig with a largely riiral economy, it describes agriculture's contribirtion to econontic growth and the repercussions of this growth on the agricultural sector.The particular problems of agriculture in an industrial economy like the U.K. are then considered in relation to its agricultural structure.