IPF Research Programme 2021 Grant AWARDS

IPF Research Programme 2021 Grant AWARDS

In 2021, the IPF Research Programme created a grants scheme to provide financial assistance to new or recent entrants to the property industry, including graduate students and junior practitioners, to encourage real estate investment research. While no specific themes were proposed, prospective applicants were encouraged to examine issues that would advance the real estate investment industry’s understanding of and implications for asset pricing, risk-adjusted performance and investment strategy.

An evaluation of proposals received by the 30 September 2021 deadline resulted in four submissions being selected as recipients of awards, subject to delivery of final papers by 31 March 2022, with limited supervision of each study provided by a sub-committee of the IPF Research Steering Group during the intervening period.

Three applicants successfully met the requirements of the scheme, covering a diverse range of topics comprising an investigation of foreign real estate investment strategies, an examination of the risks to Indian commercial office portfolios during COVID-19 and the determinants of UK self-storage rents.

These three papers are available to download below:

Commercial office portfolio risks during COVID-19: A survey of stakeholders in India

Authors: Ashish Gupta, PhD, FRICS & Deepak Bajaj, PhD, FRICS of RICS School of Built Environment, Amity University, Noida, India and Shobhit Agarwal, MRICS, Anarock Capital Advisor

COVID-19 pandemic has given rise to a public health crisis of an unprecedented scale that has impacted the global economy, supply chains and property types differently. Through interviews with key stakeholders, this research looks at the key risks and their mitigations adopted by the commercial office portfolio (COP) owners in India.

Commercial office portfolio risks during COVID-19: A survey of stakeholders in India 2022

 

The Determinants of UK Self-Storage Rents

Author: Daniel McKegney, Heitman Investment Research

The research seeks to isolate and identify the various factors that determine self-storage rents, including factors that relate to the store itself and the local catchment area. The findings are based on analysis of  rents for self-storage units in 457 stabilised self-storage facilities in the UK, drawing on an extensive database constructed using market, store, and operator characteristics.

The Determinants of UK Self-Storage Rents

 

Learning or Partnering? An Investigation of Foreign Real Estate Investment Strategies

Authors: Professor Anupam Nanda, University of Manchester, and Dr Fangchen (Melanie) Zhang, Northumbria University.

This study examines international real estate investors’ strategy choices and the implications for the commercial real estate (CRE) market. The findings indicate that investors with broker representation, foreign investors, and those working with external management partners achieve pricing premia in property purchases. The local experience accumulated from past transactions strengthens bargaining power.