Chapter I High-voltage Overhead Transmission Lines (HVOTLs) and House Prices Book Editor(s):Sandy Bond, Sandy Bond Professor of Property Studies Department of Agricultural Management and Property Studies, Lincoln University, New ZealandSearch for more papers by this authorSally Sims, Sally Sims Senior Lecturer in Real Estate and Real Estate Law Department of Real Estate and Construction, Oxford Brookes University, UKSearch for more papers by this authorPeter Dent, Peter Dent Senior Lecturer in Valuation and Strategic Management Department of Real Estate and Construction, Oxford Brookes University, UKSearch for more papers by this author First published: 27 February 2013 https://doi.org/10.1002/9781118533215.part1 AboutPDFPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShareShare a linkShare onFacebookTwitterLinked InRedditWechat Towers, Turbines and Transmission Lines: Impacts on Property Value RelatedInformation

There are two principal elements to consider in relation to the strategic management of any organisation's surplus property. The first is the process by which the property is identified and declared surplus and the second is the procedure for managing such property effectively until disposal finally takes place. This paper is based on the research undertaken to consider: the key characteristics of good “strategic” management of surplus property; how other bodies (private and public) have improved their strategic management of surplus properties in the recent past; how the proposals in “Sold on Health” appear to meet good practice; and any lessons that can be learnt by the National Health Service from this work.

Professional responsibilities in a complex and contested work environment are constantly being reshaped by a changing economic, environmental and social context. Responsibility and accountability have become more diffuse, and they reside with a wider group including professionals and professional organizations. The codes, charters and laws of several built environment professional organizations in the United Kingdom and Germany are examined for ethical principles and guidance. The allocation of responsibility for acting in the public interest rests with both the individual professional and the professional organizations, but many professionals experience an ethical void due to little guidance from their institutions. To address this problem, an ethical framework is constructed for professionals, allowing ethical issues to be considered in a structured, practical way. Consideration is also given to how to foster conditions for professionals to take personal responsibility for ethical behaviour, including the idea of personal responsibility for the Other. An overarching concept of civic professionalism can guide professional behaviour. A set of guiding ethical principles for professional practice can stimulate both individual professionals and their professional organizations to fulfil this key role better, as well as challenging the latter to fulfil their leadership role and responsibilities in professional practice and civic society.

This paper questions current practices both in management science and real estate management which consider real estate outside of the strategic decision-making process. The paper starts with an examination of organisations as complex adaptive systems and the nature of work in times of transformation. It suggests that the fundamental mistake often made is to focus too much on the change being about the use of technology. Instead, the authors believe that the real opportunity lies in the change in operation, process and culture. As such, management decisions need to be linked to real estate potential and real estate decisions have to incorporate resource impacts. Evidence suggests, however, that there is a deep disparity between the research produced in management science compared with that in the real estate field. What the authors suggest illustrates a bounded rationality which requires shared experiences and research to bridge the differences in approach and ideas. Several models are put forward to address this disparity but the authors believe that the real solution lies in a model which embraces the five dimensions of real estate through a process of dialogue and anticipatory learning.

A next generation VLIW DSP Central Processing Unit (CPU) which has an integrated fixed point and floating point Instruction Set Architecture (ISA) is presented. It is designed to meet a 1.5 GHz core clock frequency in a 40nm process with aggressive area and power goals. In this paper, the benchmarking process and benefits of newly defined instructions such as complex matrix multiply is explained. Also, the CPU data path is described in detail, highlighting several novel micro-architecture features. Finally, our design methodology as well as verification methodology to ensure functional correctness utilizing formal equivalent verification is described.

Purpose - The purpose of this research paper is to examine some of the issues that the UK surveying profession need to consider with regard to climate change in the built environment.Design/methodology/approach - The paper is based on an examination of literature related to adaptation and mitigation and the flow of information in the context of climate change and the built environment. The findings in this paper are based on a questionnaire survey (September 2008) of recent graduates from 23 programmes in the UK to assess the current state of knowledge and understanding of the issues confronting the profession with regard to the impact of climate change. They follow on from an earlier independent perception survey of Royal Institution of Chartered Surveyors (RICS) members which specifically focused on climate change. The findings from this survey suggested a degree of unpreparedness amongst the surveying community in the UK regarding issues around climate change and the built environment.Findings - The paper suggests that, whilst the RICS stress the importance of sustainability in their literature and most university course documents include reference to sustainability and the effects of climate change, the message from graduates is mixed. For example, approximately 50 per cent of graduates considered that there was no, or little reference to the issue in their own programmes.Originality/value - This paper addresses sustainability literacy and questions the way in which climate change in the built environment specifically is taught on surveying programmes. The findings help inform gaps in the manner in which the subject is approached. Leading on from this, it may be possible to put forward suggestion for a more proactive approach.

Purpose - The purpose of this paper is to establish whether or not asking price can provide a reliable indication of the impact of a negative externality when transaction data are scarce.Design/methodology/approach - Until recently, transaction data within the UK were either unobtainable or expensive. Subsequently, an analysis of the value impacts of living near negative externalities (such as high voltage overhead power lines (HVOTL)) relies almost entirely on valuer expertise. Since behavioural research suggests that valuers often anchor to asking price which, in theory, is based on the selling agent's opinion of the likely transaction value of a property, the argument is made that "asking price" provides a reliable indication of the impact of a negative externality when transaction data are scarce. This theory is tested through an analysis of the real versus perceived impacts of an HVOTL on proximate house prices.Findings - The results, whilst providing additional evidence to support the relationship between value diminution and the presence of an HVOTL near residential homes, suggest that agents' marketing price does not capture the true impact of this type of negative externality and should therefore be treated with caution by practitioners seeking to establish the value of this type of property.Originality/value - The results of this article add additional evidence to support the findings from previous studies in this field.

This paper discusses the findings from a UK study to determine the likely impact of a wind farm on house prices using a hedonic pricing model. The Government's commitment to wind power has resulted in a massive increase in the number of wind farms sited in the UK. This has led to concerns that their visual and aural presence could have a negative impact on proximate house prices. This paper presents an analysis of 201sales transactions from houses situated within half a mile of a 16 turbine wind farm in Cornwall, UK. Whilst no causal link was established between the presence of the wind farm and house price, there was some evidence to suggest that both noise and flicker from the turbine blades could blight certain property and that the view of countryside enjoyed by the occupier had some value which may be affected by a wind farm. Santrauka Šiame darbe aptariami JK atlikto tyrimo rezultatai, kuriuo, taikant hedonistinį kainų modelį, siekta nustatyti galimą vėjo jėgainių poveikį namų kainoms. Vyriausybės parama vėjo energijai paskatino naujo elemento, vėjo jėgainės, atsiradimą aplinkoje; susirūpinta, ar vėjo jėgainių vaizdas ir garsas galėtų neigiamai paveikti namų kainas. Šiame darbe nagrinėjamas 201 prekybinis sandoris, susijęs su namais, pusę mylios nutolusiais nuo Bears Down, Kornvalyje (JK), esančio 16 vėjo jėgainių ūkio. Nors priežastinis ryšys tarp vėjo jėgainių ir namų kainos nepastebėtas, yra įrodymų, kad jėgainės keliamas triukšmas ir menčių mirgėjimas kai kuriems nekilnojamojo turto objektams galėtų pakenkti ir kad gyventojui patikęs kaimo vaizdas gali tapti nebepatrauklus.

Wind energy is one part of a larger solution to solving the world wide energy crisis. However, as with all new developments, there are costs as well as benefits. In the case of wind farm development it seems that there is little real evidence to substantiate some of the claims for or against it. The research for this paper raises, not only issues specifically about economic value effects but the broader debate around social and community impacts. Previous work by the authors has concentrated on the impact of proximate wind farms on house prices. It has focused on one or two areas of the UK which had particular characteristics in terms of economic activity, tourism, proximity to coast etc. The authors have now extended this work in several ways. First, they have tested to see if these areas are likely to be representative of the whole country. Further studies of other regions where wind farms have been built have been considered. Second, there is a view that the impact of the wind farm is actually not significant in terms of house prices when located beyond one mile. There does, however, appear to be more of an effect on the market (and therefore potentially prices) where there are wind farm proposals being considered. This study seeks to explore this issue further. Finally, their work examines impacts less to do with property values and more related to community values.