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Alternative-Use Valuation, Open Al Planning Consent, and the Development of Retail Parks

Author

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  • C M Guy

    (Department of City and Regional Planning, University of Wales, P.O. Box 906, Cardiff CF1 3YN, Wales)

Abstract

In this paper I will examine the recent surge in development interest and land values associated with retail park development in the United Kingdom. This surge is shown to have arisen from changes in retailing methods among leading nonfood retailers and in land-use planning regulations which have created concerns over scarcity of land for future off-centre development. The implications for both setup and exit sunk costs for retailers, and alternative-use values for their land holdings, are discussed. It is also suggested that off-centre retailing may be subject to rapid changes in the next few years as the potential for maximisation of value from existing retail parks is sought by developers and financial institutions.

Suggested Citation

  • C M Guy, 1998. "Alternative-Use Valuation, Open Al Planning Consent, and the Development of Retail Parks," Environment and Planning A, , vol. 30(1), pages 37-47, January.
    • Handle: RePEc:sae:envira:v:30:y:1998:i:1:p:37-47
    DOI: 10.1068/a300037
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    References listed on IDEAS

    as
    1. N Wrigley & F M Dieleman, 1992. "Sunk Capital, the Property Crisis, and the Restructuring of British Food Retailing," Environment and Planning A, , vol. 24(11), pages 1521-1530, November.
    2. C M Guy, 1997. "Fixed Assets or Sunk Costs? An Examination of Retailers' Land and Property Investment in the United Kingdom," Environment and Planning A, , vol. 29(8), pages 1449-1464, August.
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