Differentiation of the developer: the influence of tenant demand, development packages and city marketing
Language: English Publication details: London RICS 1996Subject(s): Summary: The development process became more complex than ever before during the 1980s property development boom by project size, building type, financial packages and through joint ventures. Tenant needs played an important part at that time and bargaining power has increased under recessive conditions. This paper argues that the complexity of the process and differentiation of demand has begun to create a more differentiated sector. Three major factors are identified as drawing the trend of differentiation:- the demand side impact of user requirements; the supply side impact of partnerships; the political impact of marketing the city. The demand side factors are leading to developers seeking to identify and secure different market segments and niches. An approach to classification of segmentation will be set out. The supply side factors concern the ability to put together the land, secure planning, share risk and secure both private and public financial support. It will be shown how the complexity of this process requires the creation of networks and the formation of partnerships that create degrees of dependency. Their maintenance demands specialisation. Thirdly, the political process for securing major development opportunities has to embrace the broader processes outside the remit of feasibility Section 106 agreements that include the (implicit or explicit) marketing strategies of towns and cities to promote and 'sell' (part of) their environment for investment consumption and command functions.Summary: This item is no longer available.| Item type | Current library | Copy number | Status | Barcode | |
|---|---|---|---|---|---|
| Book | Virtual Online | 1 | Available | 132029-1001 |
The development process became more complex than ever before during the 1980s property development boom by project size, building type, financial packages and through joint ventures. Tenant needs played an important part at that time and bargaining power has increased under recessive conditions. This paper argues that the complexity of the process and differentiation of demand has begun to create a more differentiated sector. Three major factors are identified as drawing the trend of differentiation:- the demand side impact of user requirements; the supply side impact of partnerships; the political impact of marketing the city. The demand side factors are leading to developers seeking to identify and secure different market segments and niches. An approach to classification of segmentation will be set out. The supply side factors concern the ability to put together the land, secure planning, share risk and secure both private and public financial support. It will be shown how the complexity of this process requires the creation of networks and the formation of partnerships that create degrees of dependency. Their maintenance demands specialisation. Thirdly, the political process for securing major development opportunities has to embrace the broader processes outside the remit of feasibility Section 106 agreements that include the (implicit or explicit) marketing strategies of towns and cities to promote and 'sell' (part of) their environment for investment consumption and command functions.
This item is no longer available.