Valuation of Shopping Centers Research Paper Example | Topics and Well Written Essays - 3750 words

Valuation of Shopping Centers - Research Paper Example rom the fact that investment behaviours in shopping centres have been changed due to dramatic progress in the retail industry of Germany and it can be explicitly understood from the fact that until 2011 Germans were dominating investors in the market. However, now German retail industry has largely attracted foreign investors accounting for 62% overall investment in the retail market. Due to the desired aim of maximizing profits, owners of retail properties hire professional companies to evaluate the properties accurately by taking different criteria into consideration. However this is a complex and difficult task, especially with high investments like shopping centres. The real estate crises has shown what impact wrong valuations can have. This is why it is important that the valuation process is done correctly and with caution. The aim of this paper is, next to an introduction of the shopping centre market, the general definition of shopping centres, the different classification types and the historic development, to answer the question what factors influence the market value of a property. In this context, the meaning of valuation will be discussed, followed by an analysis of different factors incluencing the value. In order to link the theoretcial approach with practical experience these factors will be anaylsed by means of project made during an internship at Jones Lang LaSalle in Frankfurt in summer 2012. Additionally, the project will be briefly described and the outcome of the valuation will be mentioned. Trends of shopping centres are continuously changing since the development of shopping centres’ phenomenon among masses. Researchers have suggested that with the passage of time and emerging technologies it has been noticed that trends of shopping and shopping centres are gaining much attention (Coleman, 2012, pp. 6-105). Business of shopping centres is successfully going with growing populations’ needs and increasing social awareness. Intellectuals

Nuisance Essay Example | Topics and Well Written Essays - 1000 words

Nuisance - Essay Example However in Hunter v. Canary Wharf the House of Lords stated that the distinction implied the creation of two separate torts. The interference with use or enjoyment of land of claimant takes place through various ways, which includes adverse affect on negihour's sleep through vibrations and noises (Halsey v Esso Petroleum) and encroachment of roots (Solloway v. Hampshire CC) . The reasonableness of act is considered when determining on possibility of nuisance, so an action for nuisance may fail if found of reasonable use to the community and is of a temporary nature(Harrison v. Southwark). Reasonableness is dependent on variety of factors which include the duration of interference, sensitivity of the plaintiff, character of neighbor hood, and the defendant's fault. Further the character of the neighbourhood may be a vital factor in case of interference with enjoyment or use. (Sturger v. Bridgman) However it is not important when physical damage to property is sustained. (St. Helens) Finally the fault on the part of claimant can be found to be strict in certain situation while fault based in others. If it is found that the claimant continued the nuisance for example by annoying his neighbor through noises which are intolerable, then an injunction would be granted.(Christie v Davey)The traditional view has been to create a distinction between the creator of the nuisance (with strict liability) and one who carried on or adopted the nuisance (which is decided on the ground that whether the defendant knew or ought to have known of the nuisance) . By the case law it has been seen that the courts have ignored sensitivity issues when there is a strong possibility of malice.(Hollywood Fox v. Emmett). The traditional position had been that only those having a legal interest could bring an action. However trespassers have been included. (Pemberton v. Sothwark) The decision of the House of Lords in Hunter v. Canary Wharf is of significance because it scrupulously analyzed on the previous cases, upholding the traditional view. Lord Cooke argued that the right to sue could either be confined to those having an interest in the land or to those who live there; it entirely depended on the policy of law. Further Lord Goff stated that the current state of law could bring in certainty and efficacy. The decision of hunter can be considered to be an important aspect of looking at the interpretation given by the judges to develop the law. However it can be said that the dissenting opinion of Lord Cooke can be overridden by the fact that on follow up to ECHR it was found that all the applicants under hunter should be protected under Article 8 ECHR. Further it can be said that harassment an issue in Hunter can now be claimed under other heads rather than nuisance. (Khorasandjian v. Bush)In McKenna v British Aluminuim it was accepted that due to the Art8 claims based on property would be inappropriate. The development of the case law is therefore entirely dependent on the interpretation of judges of the Human Rights Act 1998. The area of public nuisance has been said to be an unsatisfactory area covering loops of