Property Age Research Articles

Conservation conditions of school buildings as a modern heritage in the seismic context in Chile. 1937–1965

ABSTRACT The conservation of modern architectural heritage in seismic contexts must consider the analysis of more complex pathological processes than those traditionally associated with reinforced concrete deterioration. The behaviour of 21 school buildings built in Chile between 1937 and 1965 was comparatively analysed using the pathological diagnosis method. The documentation, in-situ observation, and measurements with non-destructive testing show that mechanical damages are more severe than physical–chemical damages. The levels and classification of deterioration are affected by accumulated damage due to the property's age and the characteristics of the architectural and structural design, which evolve from models of resistance by rigidity to flexible behaviour, which have lower levels of damages. In turn, the physical–chemical damage in the envelopes will depend mainly on the construction quality of the enclosures and the maintenance processes, rather than on the variation of the period's designs. An adequate pathological diagnosis of this architectural heritage allows the generation of appropriate conservation action guidelines to prolong the durability of these heritage works.

Retail properties in Hong Kong: a rental analysis

PurposeThis paper seeks to explore the relationship between market positioning and rents of retail facilities in Hong Kong.Design/methodology/approachRegression analysis is deployed in the paper to find out the impact of various attributes, in terms of a retail facility's physical characteristics, market positions, and location, on the annualized per‐area net rental income. The sample data obtained from the initial public offerings of the Link real estate investment trust (REIT), one of the largest REITs in the world, is used for analysis.FindingsThe study finds that district centers command the highest average rental levels, followed by local and estate centers. As the effects of positive externalities for unorganized shops are smaller, the average rental levels for shops are generally lower. In terms of the impact of individual attributes on rents, a retail property's age and its efficiency ratio have negative relationships with rents, while its size (in terms of gross floor area) and the amount of shops positively affect the facility's rental levels.Research limitations/implicationsAlthough obtaining the largest possible dataset in the Link REIT portfolio for the study, the sample is not considered big enough to detect the impact of the location of a retail facility on its rental adjustments. Further studies are required with regard to this issue.Originality/valueThe results of this study give planners and developers of retail facilities some insights about the effects of market positioning on a retail facility's performance on the leasing market.