bk thesis

MSc laboratory - Real Estate Management

corporation & cities

Delft university of technologyreal estate & housing department transformation

master thesis subjects2011

MSc laboratory - Real Estate Management2

RE&H DepartmentReal Estate Management Lab

Responsible Full Professor:Hans de Jonge

Coordinator:Theo van der Voordt (C/P REM)[email protected]

September, 2011

Design: FCM

MSc laboratory - Real Estate Management 3

Focusing on the non-residential building sector, and addressing both public and private real estate on object, portfolio and area scale levels, this research proceeds from the need to identify:

• Frictions between the current and future supply of real estate and the current and future demand, resulting in an analysis and recommendations for the desirable supply, both quantitatively and qualitatively.

• Thedefinitionandelaborationofrealestateperformancecriteriasuchasutilityvalue,culturalvalue,cost/quality,feasibility,sustainability,futurevalue,fitwithlegislationandsoon.

• Probable, possible and desirable interventions that will create the best possible match between supply and demand.

• Concepts and theories to describe and explain the research domain including the impact on real estate of social, economical and technological trends, and relationships between demand and supply, taking into account the characteristics of individual users, organizations and society as a whole and characteristics of the built environment, on different scale levels.

• Structures for setting up and managing multi-actor decision-making processes for transforming real estate and tools to support the complex decision making processes related to it.

Positioning of the REM Lab within the RE&H MSc curriculum

Quantitative Research Methods in Design and Engineering

AR2R025The Urban (re)Development Game From Masterplan to feasibility Analysis

10 ects

AR2R035Re-design From Area to Building Block

10 ects AR2R015Fundamentals 2

Management, Economy, Lawand Computational Design

10 ects

6 ects

Free Electives 15 ects9 ects

MSc

2M

Sc 1

AR1R015Design & Construction Management

7 ects

AR1R035Housing Policy, Management and Sustainability

7 ects

AR1R055 - Qualitative Research Methods in Design and Engineering

AR1R045 - Fundamentals 1 Management and Economics

3 ects

6 ects

AR1R025Real Estate Management

7 ects

9 ectsLab 2

Real Estate Management

9 ectsLab 3

Urban AreaDevelopment

9 ectsLab 4

Housing Policy, Management and Sustainability

Lab 1

Design & Construction Management M

Sc 3

30 ects 30 ectsLab 2

Real Estate Management

thesis project

30 ectsLab 3

Urban AreaDevelopment

thesis project

30 ectsLab 4

Housing Policy, Management and Sustainability

thesis project

Lab 1

Design & Construction Management

thesis project

MSc

4

RE&H Curriculum(starting in September)


Corporate and Public Real Estate Management

Chair: prof. ir. Hans de jongeKey researchers: ir. M.H. Arkesteijn MBA, dr.ir. A. den Heijer, dr.ir. H.T. Remøy, ir.arch. H.J.M. Vande Putte MRE, dr. ir. D.J.M. van der Voordt, ir. J. van der Zwart, drs. Philip Koppels

Corporate and public real estate management is the management of a real estate portfolio by aligning the portfolio and related services to the objectives of the organization, the needs of the real estate users and other stakeholders. Corporate real estate refers to the portfolio of private organisations such as banks, insurance companies, retailers, consultingand lawfirms,ICTcompanies, logisticfirms,carassemblingfactories,etc.Publicrealestaterefers totheportfoliosofpublicinstitutionssuchasnationalgovernments,regionalgovernments,non-profitorganisations,municipalities etc. and consists of town halls, courts, education facilities, hospitals, ministeries, warehouses, etc.

Realestatemanagers’tasksincludethedefinitionofperformancecriteriainabriefor ‘programofrequirements’,steering feasibility studies, designing and implementing strategic housing policies, selecting an office concept,searching for an appropriate building, and managing buildings in use. An optimal match between accommodation, organizational objectives, user requirements, goals and objectives of stakeholders such as shareholders and clients, and public opinion may help to increase satisfaction, labour productivity, a positive image and identity, effective and efficientwaysofworking,andreductionoffacilitycosts.

Professionalrealestatemanagementrequiresscientificknowledgeaboutthebestfitbetweenorganizationstructuresand culture, activity patterns, mission statements and company objectives on the one hand and solutions for accommodating people on the other hand, including site selection, building layout, housing concept and interior design. Criteria for a best fit include inter alia business performance, employee and client satisfaction, labourproductivity and facility costs. A complicating factor is the dynamics of society and organizations, whereas buildings areratherstatic.Itoftenoccursthatevenbeforeabuildingisfinishedtheorganizationandprocessesthathavetobe accommodated have changed already drastically. Clients, designers and real estate managers have to cope with many uncertainties. Scenario techniques may help to forecast on future developments.

At Real Estate Management of the Department of Real Estate and Housing these issues are studied particularly in thedomainofoffices,highereducationinstitutes,retailandleisure.Thefocusisonownersandusersofprivateand public real estate and professionals involved in the process of planning, development and management of utilitybuildings.Propertymanagementfromaninvestors’pointofview,aimingtogetprofitfrominvestinginrealestate,isstudiedextensivelyelsewhereandisnofocusobjectiveinDelft.Herethefocusisonrealestateasa‘fifthresource’ i.e. real estate as a facilitator of primary processes, in addition to capital, human resources, information and technology, municipalities, health care and the connection between corporations and cities.

Research questions studied in this sub programme are for example:

• What is the impact of social and economic trends, technological innovations, and organizational changes on demand and supply of buildings?

• Which organizational characteristics should be considered as most important input to briefing, design andmanagement of buildings?

• What is the best match between different organizational structures, cultures and working processes and different building layouts, in general and with respect to particular types of organizations?

• Which tools are available or should be developed in order to support complex decision-making processes to accommodate people?

InthisdomainresearchersofRealEstate&Housingoftenco-operatewithresearchersfromtheCenterforPeople& Buildings. This knowledge centre is specialized in research and knowledge transfer in the field of workingenvironments. Furthermore there are strong links with private and public organizations and with researchers from theRE&HfundamentalprogrammeBuildingEconomicsi.e.abouttherelationbetweencostsandquality.


research themes and projects

object level portfolio level area level

1. Designing an accommodation strategy

2. Implementability of accommodation strategies

3. Corporations and Cities

4. The added value of real estate

6. Health care real estate management

7. Municipal real estate management

8. Optimizing office accommodation

8.1 Toolkit to evaluate office buildings

8.3 From red to green

11. Function - Form - Finance - Future

10. Briefing and evaluation

8.2 Accommodation choice models

9. Conversion of office buildings

9.1 New office concepts in existing buildings

9.2 Structural vacancy and willingness to pay

9.3 Transformations in Rotterdam

5. Managing the university campus


1. Designing an accommodation strategy

Key researchers: ir. M.H. Arkesteijn MBA, dr.ir. A.C. den Heijer, prof. ir. H. de Jonge and ir. arch. H.J.M. Vande Putte MRE

Key publications: • De Jonge, H. (2006). Strategievorming in onzekerheid. Real Estate Magazine, 49, 22-26. • DeJonge,H.,Arkesteijn,M.H.,DenHeijer,A.C.,VandePutte,H.J.M.,DeVries,J.C.,&Van

der Zwart, J. (2009). Corporate real estate management, designing a real estate strategy in four steps. Delft: TU Delft.

Contact

Monique ArkesteijnAssistant Professor

01.west.250 +31639251447 [email protected] present: all week (except Tuesday)

This research develops a process framework which integrates different existing strategy development models and instruments both from the real estate management profession as well as the organizational management in general which could be useful when designing anaccommodationstrategy.Ineducationandinpracticelotsofstrategydesigntoolsareused.Howeverthesedonotusethesamedefinitionsandfocusondifferentmomentsinthestrategydesignprocess.Thedifficultyistoknowwhenandwheretousewhichtool.The objective of this research is to guide strategy designers through available knowledge and support them to apply this knowledge in their own way.

The main research question is: How to design an accommodation strategy and structure a strategy design process? Sub-questions include: Why does an organization need an accommodation strategy? What strategy theories and which accommodation strategy design methods exist? What tools are available for the strategy design process?

This research is based on education and consulting experience and integrates previous research of the Real Estate chair and research projects of ir. A.C. den Heijer: “Managing the universitycampus”;ir.arch.H.J.M.VandePutteMRE:“Implementabilityofaccommodationstrategies. The design and evaluation of a types methodology”; and dr. ir. J.C. de Vries “Performance through to real estate”. The results of this research are consecutive versions of the handbook: “Corporate Real Estate Management, Designing an Accommodation Strategy in four steps”.

The final outcome of the research will be published in a handbook and a game foraccommodation strategy making.

How to design an accommodation strategy and structure a strategy design process?

related research subjects

Process framework for the design of an accommodation strategy; matching the current and future supply of real estate and the cur-rent and future demand for it

Weigh andselect alternative (s)

Determinecurrentmatch

Determinefuturematch

1 32

4

SUPPLYSIDE

MATCH

DEMANDSIDE

CURRENTdemand

FUTUREdemand

CURRENTsupply

FUTUREsupply

Step by step plan4


How to predict the implementability of a strategy

under design?

2. Implementability of accommodation strategies - Design and evaluation of a methodology by types

Key researchers: ir. arch. H.J.M. Vande Putte MRE. Supervisors: prof. ir. H. de Jonge and dr. Ir. D.J.M. van der Voordt

Key publications: • Chakravarthy,B.S.,&White,R.(2002).Strategyprocess:forming,implementingandchanging

strategies. In A. Pettigrew, H. Thomas & R. Whittington (Eds.), Handbook of strategy andmanagement (pp. 182-205). London: Sage.

• Chan Kim,W., & Mauborgne, R. (2002). Charting your company’s future. Harvard BusinessReview, 2002(June), 5-11.

• Eilouti,B.H.(2009).Designknowledgerecyclingusingprecedent-basedanalysisandsynthesismodels. Design Studies, 30(4), 340-368.

• Provoost, J. (2007). De structuur en inhoud van vastgoedstrategieen: een verkennend onderzoek onder Nederlandse organisaties. MSc thesis, Technische Universiteit Delft, Delft.

• Vande Putte, H. (2006). Organization accomodation strategy, strategy design, structure &content.Delft:InternalmemoTUDelft.

Contact

Herman Vande PutteAssistant Professor

01.west.720+31 639251323

[email protected]: Monday to Friday

This research aims at improving the implementability of organisation accommodation strategies through the use of types. This will allow to confront accommodation strategies under design with the implementation environment.

Thefirstmotivetostartthisresearchistheproblemsaccommodationmanagersreportwhen implementing accommodation strategies. Preceding research points out these problems are often related to the content of the accommodation strategy which is not adaptedtothespecific–e.g.organisational-implementationcontext.

Secondly, empirical research into the design and implementation of accommodation strategies is scarce. The present research aims at improving academic and professional knowledge on organisation accommodation strategies, and to link this knowledge to the faculty’s knowledge on typological concepts and methods in design processes.

Organisationsshouldbenefitfromaquick,clearandprecisecheckoftheimplementabilityof an intended strategy within a given environment. The method that will be developed predicts conflicts and synergies between a conceived organization accommodationstrategyandtheimplementationenvironment.Itconsistsofareflectionphaseinsertedinthe strategy-making process during which the content and the execution processes of the strategyunderdesignandtheimplementationenvironmentaregenericallytypifiedandconfronted. This is based on the presumption communication requires shared language.

In26-28May2008aninternationalscientificconferencewassetupinBrusselsentitled‘Corporationsandcities:envisioningcorporaterealestateintheurbanfuture’toinducea debate between corporate real estate managers and urban planners which aren’t used tocommunicatenorshareestablishedparadigms.Thefirstandroughdiscourseanalysesconfirm the extensive use of cases and condensing schemes by both groups whencommunicating their visions on future corporate settlements in urban areas.

Master thesis research subjects

Creative• Designing new processes for

strategy making• How to use precedents in decision

making?

Reading / desk research• Structure and content of accommodation strategies

• Structure and content of strategy design processes

Talking / contacting many people• Cases of strategy design in

corporate accommodation• Knowledge recycling using

precedents• Implementation issues in corporate

accommodation

Journalistic / survey• The use of condensing schemes

in the Corporations and Cities 2008 colloquium

Theoretical / in depth• Analogic and precedent-based

reasoning in strategy-making• The art of reduction


3. Corporations and cities

Key researchers: prof. ir. H. de Jonge and ir. arch. H.J.M. Vande Putte MRE

Key publications: • Bissumbhar,K.(2011).Locationstrategiesofaudiovisualcompaniescompelledbythenetwork

society. MSc thesis, Delft University of Technology, Delft. • Singh, R. (2010). Organisations’ location choices. The demand drivers for clustering and dispersal

of functions across geographical area. MSc thesis, Delft University of Technology, Delft. • VanBeek,B.(2005).Thesell-or-redevelopdecision:disposalstrategiesforredundantindustrial

real esate. MSc thesis, Delft University of Technology, Delft. • Vande Putte, H. (2009-2010). Corporations and cities (11 articles). Real Estate Magazine, 62-73. • VandePutte,H.,&deJonge,H.(Eds.).(2008).Corporationsandcities.Envisioningcorporate

realestateintheurbanfuture.Delft:PublikatiebureauBouwkunde.

Contact

Herman Vande PutteAssistant Professor

01.west.720+31 639251323 [email protected]: Monday to Friday

Corporations and Cities researches the relation between the accommodation of large scale organisations and urban development. The way organisations such as multinationals, governmental institutions and educational facilities fulfil their accommodation needs,influencesthestructureandliveabilityofcities.Viceversa,thevisionandpoliciesofurbanplanners have an important impact on large corporations. Little has been researched or written so far about this obvious interaction. City planners and corporate real estate managers do not meet on a regular basis. This explains why cities continue to propagate the urban mix and corporations still prefer fenced business clusters, isolation and control.

The aim of Corporations and Cities is to productively discuss the cultural, economic and technological determinants needed to realise innovative corporate real estate and urban strategies. The problematic relations between the large-scale premises of the European headquartersandthehistoricalurbanfabricinBrussels,ledtheBerlageInstitutetoorganisein2007theexhibitionentitledAVisionforBrussels.TheCorporationsandCitiesprojectaims at broadening the reflection on this and at continuing envision future strategies.Itintendstocontrastthelogicofcorporatemanagersandcitydevelopersandcreateacommonlanguageinthesearchformatchingstrategies.ThefirstinternationalscientificCorporationsandCitiescolloquiumtookplaceinBrusselsin2008.Itwasconceivedandorganised by TU Delft. The second colloquium is under preparation and scheduled for 2013.

The Corporations and Cities research is conducted through historical and contemporary casestudiesandtheoreticalanalyses,organizedaroundfivethemes:• Organizational strategies and urban planning goals• History and future• Agglomeration strategies and location choices• Image,brandingandrepresentation• Managing symbiosis

Master thesis research subjects

Historical• How did corporate settlements development in a city?• What types of buildings did/do corporations use? What has been their life cycle?

Creative• Development of a Monopoly game for corporate real estate in urban areas• What is the usability of solids and hybrids for larger firms?

Reading / desk research• Critical appraisal of the regulations related to corporate accommodation• Schools in CRE research: the approaches of Delft, Reading, Sydney, Oslo, MIT,…• Critical appraisal of 25 years of CRE research reported in journals.

Talking / contacting many people• Description of the development of major corporations’ accommodation in urban areas.• Facts and figures about the cost of corporate accommodation• Resetting ground positions to develop a sustainable European quarter in Brussels.

Journalistic / survey• History, impact and future of large corporations in urban centres• Recycling redundant corporate real estate in the urban realm• Corporate accommodation strategies used in Eastern European cities after ‘die Wende’ to accommodate corporations?

Theoretical / in depth• Theoretical model of the evolution from a mixed to a segregated urban fabric.• Theoretical frame for the Corporations and Cities 2013 colloquium• Reporting and critical appraisal of the 2008 Corporations and Cities colloquium; continuation of the cases• Conference reporting and appraisal (e.g. Corenet 2011 Paris, Nationaal Bedrijventerreinencongres 2011,…)

What is the relation between corporate accommodation and urban development?


4. The added value of real estate

Key researchers: : dr.ir. Theo van der Voordt, ir. Monique Arkesteijn, ir. Johan van der Zwart, dr. ir. Alexandra den Heijer, drs. Philip Koppels

Key publications: • De Vries, J. C. (2007). Presteren door vastgoed. Delft: Eburon.• DeVries,J.C.,DeJonge,H.,&VanderVoordt,D.J.M.(2008).Impactofrealestateinterventions

on organisational performance. Journal of Corporate Real Estate, 10(3), 208-223. • Jensen,P.A.,VanderVoordt,T.,&Coenen,C.(2010).TheaddedvalueofFM:differentresearch

perspectives. Paper presented at the EFMC June 2010, Madrid. • VanderVoordt,D.J.M.,&VanderZwart,J.(2011).Valuebaseddesignandmanagementof

hospitalbuildings.PaperpresentedattheMISBE2011,Amsterdam.• Van der Voordt, T. (2009). FM meetbaar en bespreekbaar maken. Facility Management Magazine

172(Augustus 2009), 54-57.

Contact

Theo van der VoordtAssociate Professor

01.west.720+31 15 278 2974


The objective of this research project is to enhance the understanding of how real estate interventions affect organisational performance. Aimed deliverables are 1) a conceptual model that describes and explains the relations between real estate interventions and organizational performance; 2) further exploration of the concept of Adding Value by Real Estate; 3) a list of Key Performance indicators; and 4) tools to support value adding real estate management. ThisresearchprojectbuildsonconceptualframeworksthathavebeendevelopedbyRE&Hstaff and other researchers and are based on theoretical assumptions and data from surveysandinterviews.Currenttheoriesareexploredfurthermoreinparticularfieldslikehighereducation,healthcare,municipalrealestate,andofficebuildings.The research includes both testing and extending existing models and in-depth analyses of the effect of real estate interventions on particular values such as corporate image, productivity, user satisfaction, health and safety, and sustainability.

Conclusions so far show that performance indicators currently used for productivity, profitability,andcompetitiveadvantagearemainlyquantitativeandneedtobefilledupbyqualitativeones.Realestateinterventionsneedtobetailormadetofittheorganisation,the objectives and the people concerned.

topics and research questions:

• WhichdefinitionsexistofAddingValuebyRealEstate?• How do CEO’s and real estate managers steer on Adding Value by Real Estate?• What are the main effects?


Graduation thesis e.g. van der Burg (2011), Taveerne (2010),

Boelens (2009) etc.

PhD research of Johan van der Zwart

International research by Per Anker Jensen et al.

www.tudelft.nl/djmvandervoordt

What is the impact of real estate on organisational

performance and how can we manage to attaining optimal

results?


5. Managing the university campus

Key researchers: ir. A.C. den Heijer, in co-operation with campus planners of all Dutch universities

Key publications: • Den Heijer, A. C. (2008). Managing the university campus in an urban perspective: theory,

challenges and lessons from dutch practice. Paper presented at the Corporations and cities: envisioningcorporaterealestateintheurbanfuture2008,Brussels.

• DenHeijer,A.C.(2011).Managingtheuniversitycampus.Informationtosupportrealestatedecisions. Delft: Eburon Academic Publishers.

• VandenBerg,L.,&Pol,P.M.J.(2005).Europeancitiesintheknowledgeeconomy:thecasesof Amsterdam, Dortmund, Eindhoven, Helsinki, Manchester, Munich, Münster, Rotterdam and Zaragoza. Rotterdam: Ashgate.

• VandenBerg,L.,&Russo,A.(2004).Thestudentcity;strategicplanningforstudentcommunitiesin EU cities. Rotterdam: Ashgate.

• Wiewel,W.,&Perry,D.C.(2008).Globaluniversitiesandurbandevelopment,casestudiesandanalysis.NewYork:LincolnInstituteofLandPolicy.

Contact

Alexandra Den HeijerAssistant Professor

01.west.720+31 [email protected]: Thursday - Friday

This research project provides universities with a conceptual model and tools to improve campus management, for both strategic and operational questions, connecting orientations ofdifferentstakeholders–policymakers,users,controllersandtechnicalmanagers–andcreating shared responsibility for campus planning, at the same time generating university-wide support for campus decisions.

Stakeholders involved in university real estate make higher demands upon the added value of the campus for the performance of the institution. In this dynamic context,campus management is complicated by the fact that different stakeholders with different expertise, backgrounds and interests rarely oversee all considerations that have to be made by campus managers. They either represent the strategic goals, user demands, resources or the physical aspects of the campus. A successful management requires more focus on creating a sense of shared responsibility. However, present methods and tools areinsufficienttosupportanintegratedapproachtoaccommodatingthecampusofthefuture.

The PhD research of Den Heijer described the current campus and developments that influence the campus of the future (for dissertation, see key publications). By usingtheories of corporate real estate management and by collecting data on Dutch practice and the international context, it resulted in a conceptual model for campus management and tools that connect all four stakeholders concerned with campus management.

Contract research for and with campus planners of all Dutch universities is focusing on designing, testing and re-designing tools. One of the deliverables is a database for newuniversitybuildingsthatwillultimatelygeneratemanagementinformationon–forinstance–currentcoststandardsperspacetypeandspaceusestandards,bothfornewbuildings and as an input for strategic decisions on portfolio level.

How can universities improve strategic campus management, adding value to theuniversity’s performance, conducting which management tasks and using whatinformation and tools?

CREM-model of stakeholders and their focus in managing the university campus

strategic

goals to support, quality ambitions

functional

users, satisfaction, function mix

costs, benefits, value

financial

m2, condition. location, quality

physical

campus management

focus on institution focus on real estate

stra

teg

ico

per

atio

nal


Curvelo Magdaniel, F. (2010). Management of public university campus as real estate object. The case of the university city of Bogota, Colombia. MSc thesis, Delft University of Technology, Delft.

www.managingtheuniversitycampus.nl

Managing the university campus can zoom out towards managing the campus within the city or regional setting (PhD research Flavia Curvelo Magdaniel, about knowledge cities) and zoom in on the activities students, employees and visitors on campus and the space types (functions) they require (research Salomé Bentinck). These three levels also reflected in the image above can be subject of MSc research projects, which could answer the following questions:

level university campus – How are other countries managing the university campuses? Make an international benchmark of managing the university campus (in collaboration with Alexandra den Heijer)level knowledge city/region How to accommodate knowledge activities on an urban scale? Make an analysis of Dutch university cities from strategic, financial, functional and physical perspective (in collaboration with Flavia Curvelo)level activities on campus How to support users on campus with a range of campus functions? Make an overview of available space types on Dutch campuses in relation to the urban setting (in collaboration with Salomé Bentinck)


How can health care organisations improve real

estate management in a changing context?

6. Strategic management of care & cure real estate

Key researchers: dr. ir. Theo van der Voordt, ir.J. van der Zwart (PhD candidate), prof.ir. Hans de Jonge

Key publications: • Durmisevic,S.,VanderVoordt,D. J.M.,&Wagenaar,C. (2009).Performancebaseddesign

andmanagementofhealthcarefacilities.Paperpresentedatthe3TUresearchdayInnovationin design and management of healthcare facilities and healthy environments 2009, Rotterdam

• Hoepel, H., Visser, S., De Vries, J., Van der Voordt, T., & Van der Zwart, J. (2008).Zorgvastgoedmonitor2008.Amersfoort:TwynstraGudde.

• VanderVoordt,D.J.M.,&VanderZwart,J.(2011).Valuebaseddesignandmanagementofhospitalbuildings.PaperpresentedattheMISBE2011,Amsterdam.

• Van der Zwart, J., & Van der Voordt, D. J. M. (2009).Ways to study corporate real estatemanagement inhealthcare: ananalytical framework. Paper presentedat theHaCIRIC2009,Brighton.

Contact


01.west.720+31 15 278 2974


Duetoalessstrictlysteeringofrealestatebythegovernmentandnewfinancesystems,health care organisations become more and more responsible for their real estate themselves, resulting in new opportunities but also higher risks. The aim of the present project is to explore theories, tools and best practices of strategic real estate management in the domain of care and cure, in search for empirical evidence and a better understanding of the relationship between real estate performance and organizational performance, from a point of view of different stakeholders. Together with students knowledge is being explored and tested by literature study, interviews with stakeholders, analysis of documents such as strategic accommodation plans, and case studies. This research is linked to a current PhD project by Johan van der Zwart into the impact of “more market and less government” on design and management of hospital buildings.

Research questions• (How) do hospital managers steer on adding value by real estate, what are their

priorities, and why?• What is the impact of real estate interventions on organisational performance from

the perspective of different stakeholders?


Graduation thesis of Michiel Boelens, Dirk van der Burg, Freek Taverne,

Jane Pawiworedjo, Chris Meijling e.a.


http://kennisplein.zorgenbouw.nl/


How do municipalities de-cide about their real estate portfolio?

7. Municipal real estate decision making

Key researchers: ir. M.H. Arkesteijn MBA, prof. ir. H. de Jonge

Key publications: • Arkesteijn, M.H., Schootbrugge, S. van de en Loon, P.P. van (2011) Decision making municipal

real estate, Presentation Eres 2011 conference.• Arkesteijn,M.H.,Schootbrugge,S.vandeenBankers,B.(2010)Centralisatievastgoedbeheer

alleen leidt niet tot stratetgisch handelen, Real Estate Magazine.• Jonge, H. de, Arkesteijn, M.H., Heijer, A.C.den, Vande Putte, H.J.M., Vries, J.C. de, Zwart, J. van

der(2009),CorporateRealEstateManagement–DesigninganAccommodationStrategy(DASFrame),Delft:DepartmentofRealEstate&Housing.

Contact

Monique ArkesteijnAssistant Professor

01.west.250 +31639251447 [email protected] present: all week (except Tuesday)

More and more municipalities have opted to establish a more centralized real estate management. In200969percentof largemunicipalities(>75,000inhabitants)haveacentrallyorganizedrealestatemanagement(Tazelaar&Schonau2010).Thisshouldleadtoamoreefficientandeffective real estate decision making, resulting in more strategic opportunities for a real estate contribution to thespatialdevelopmentsandsocialpolicies in thecity. In this research,wehave developed and (experimentally) used a prototype municipal real estate decision support system(PRE-system)withRotterdams’developmentBoardOBRtoenhancetheireffectivenessandefficiency.Theprototypeisbasedonthreeassumptions.ThefirstistheDASframeworkfor designing accommodation strategies (Jonge De et al., 2009). The second assumption is thefourstakeholderperspectivesinCREM(Heijer,denA.C.&J.C.deVries,2004).Thethirdassumption comes from the multi-actor goal oriented systems approach (Loon, P.P. van, 1998). The prototype PRE-system is ready and tested in two districts in Rotterdam and is in progress forthemunicipalityofDenBosch.

How do municipalities decide about their real estate portfolio?What real estate portfolio strategies do municipalities have? How to align municipal goals into real estate objectives?How can a PRE systeem enhance real estate decision making?


Van de Schootbrugge (2010) “Steering to align a public real estate portfolio: A systematic approach for process and product at strategic level”

Van de Noort (2011) “Het besluitvormingsproces over gemeentelijk vastgoed”

http://www.bk.tudelft.nl/over-fac-ulteit/afdelingen/real-estate-and-housing/organisatie/medewerk-ers/monique-arkesteijn/

currentdemand

currentsupply

futuredemand

futuresupply

currentmatch

futurematch

step by step

select alternative


8. Optimizing office accommodation

Key researchers: dr. ir. D.J.M. van der Voordt In co-operation with the Center for People and Buildings

Key publications: • VanAkkeren,S.,VanderVoordt,T.,&Gorgievski,M.(2010).Flexwerkenineenacademische

omgeving.InW.Kooyman(Ed.),Facilitymanagementjaarboek2010(pp.38-43).Nieuwegein:ArkoUitgeverijBV.

• VanderVoordt,D.J.M.(2004).Costsandbenefitsofinnovativeworkplacedesign.Delft:CenterforPeopleandBuildings

• VanderVoordt,T.,&DeBeen,I.(2010).Werkomgeving:breinbrekeroftevredenheidsgenerator?InI.Bakker(Ed.),Debreinwerker(pp.67-86).Naarden:UitgeverijFMN.

• Van der Voordt, T., Ikiz-Koppejan, Y., & Hartjes-Gosselink, A. (2008). Organisatiegerichthuisvesten.InP.A.M.VanScheijndel&F.Horsten(Eds.),Succesvollekantoorhuisvesting(pp.21-43). Den Haag: Sdu Uitgevers.

Contact


01.west.720+31 15 278 2974


Thisprojectaimstoimproveourunderstandingoftheimpactofdifferentofficelay-outsandfacilities on experience and use of the working environment, including new work settings with shared use of a variety of work locations and settings throughout the building, based on theirwork tasks (‘NewWaysofWorking’).Organizationsare introducingnewofficeswithaview to improving overall organizational performance. Expectations are high. Openness and transparency will support easy communication and the rapid exchange of knowledge and skills, withaconsequentincreaseinlabourproductivity.Beautifularchitecture,ergonomicallysoundfurniture and modern technology will compensate for the loss of a personal desk, so that workplace innovation will not reduce labour satisfaction. Desk-sharing will reduce facility costs. Keywordsareeffectivenessandefficiency.

But therearealsodissentingvoices.Peopledonot likeopen-planoffices thatdonotaffordprivacy. The distractions involve a loss of productivity, while the excessive stimulation means that people can become fatigued or overburdened. People are not machines but creatures of habit that like to work in the same place. The need to change place all the time is highly disturbing.With the long run-lines and difficulty in locating documents, central and digitalarchiving results in a loss of time. Some employees are unable to cope with the pace of change. So what’s true? Do organizational goals and values go hand in hand with user needs and preferences, functionally and psychologically? What are the risks?

Which office concepts and accommodation

characteristics fit best with particular organizational

strategies and users’ needs?


Sophie van Akkeren, Herhuisvesting Bouwkunde, 2009

www.cfpb.nlwww.tudelft.nl/djmvandervoordt

Linkedin group:Het Nieuwe Werken netwerk


8.1 Toolkit for a diagnostic evaluation of office buildings

Key researchers: dr. ir. D.J.M. van der VoordtIn co-operation with the Center for People and Buildings

Key publications: • Brunia,S.,Maarleveld,M.,DeBeen,I.,&Beijer,M.(2011).DeCfPBindicator2011;debeleving

in kaart gebracht. Facility Management Magazine, februari 2011. • Maarleveld,M.,Volkert,L.,&VanderVoordt,D.J.M.(2009).Measuringemployeesatisfaction

innewoffices–theWODItoolkit.JournalofFacilitiesManagement7(3),181-197.• Volker,L.,&VanderVoordt,D.J.M.(2005).Anintegraltoolforthediagnosticevaluationof

non-territorialoffices.InB.Martens&A.G.Keul(Eds.),Designingsocialinnovation;planning,building,evaluating.(pp.241-250).Göttingen:Hogrefe&HuberPublishers.

• Volker,L.,&VanderVoordt,D.J.M.(2005).Werkomgevingsdiagnose-instrument.Delft:CenterforPeopleandBuildings.

Contact


01.west.720+31 15 278 2974 [email protected]: Monday to Friday

The physical environment, i.e. real estate and other facilities, is perceived as an important means to support employee satisfaction and labour productivity. Yet how will a client or adesigner know if the environmenthas achieved thesegoals? Inorder tobeable toevaluatetheeffectsof(new)officesonorganizationalgoalsanduserneeds,theCentrefor People and Buildings in Delft in collaboration with the Department of Real Estate&Housingdevelopedan instrument for adiagnosticpre-occupancyorpost-occupancyevaluation,theworkingenvironmentdiagnosticWODItoolkit.Thetoolhasbeenbasedon an extensive literature review and has been applied in a number of case studies. The tool provides protocols for interviews with key persons, web-based questionnaires to ask employees about their experiences, observation methods to list the actual use of the environmentandaframeworktochecktheoverallcostsandbenefits.

Research questions:• WhatcanbelearnedfromWODI-basedevaluationsof(new)officeaccommodations,

case-based and cross-case, practically and regarding workplace theory and testing hypotheses?

• How can differences in employee satisfaction and perceived productivity being explained by physical characteristics?

related research subjects Ongoing research of the Center for People and Buildings (CfPB)

www.cfpb.nl


How can building performance - i.e. employee satisfaction - being measured in a reliable and valid way ?


8.2 Accommodation choice model


Key publications: • Ikiz-Koppejan, Y. M. D., Van der Voordt, D. J. M., & Hartjes-Gosselink, A. M. (2009).

Huisvestingskeuzemodel; procesmodel voor mens- en organisatiegericht huisvesten: vier stappen,eenslingereneenspilopeenspeelveld.Delft:CenterforPeopleandBuildings.

• Pullen,W.,Gosselink,A.M.,Cox,H.,&Ikiz-Koppejan,Y.M.D.(2010).Onderzoeksrapportagekaderstelling rijkswerkplek; corporate standard rijkswerkplek 2010. Delft: Center for People and Buildings.

• Van der Voordt, D. J. M., Ikiz-Koppejan, Y. M. D., & Gosselink, A. (2011). An organization-centered accommodation choicemodel. InW. F. Preiser, S. Mallory-Hill & J. Vischer (Eds.),AssessingbuildingperformanceII.(forthcoming).

Sincethemidninetiesahugenumberofnewofficeshavebeenbuiltandmanyexistingofficeshavebeenadapted toNewWaysofWorking. Inorder tosupportcomplexdecisionmakingprocessestheCenterforPeopleandBuildingsdevelopedaso-calledAccommodationChoiceModel. This model has been applied in different (re-)accommodation processes and to support governmental workplacemanagement policy. It is also being discussed and reflected uponby discussing real life projects with consultants and academics. Furthermore an innovative data base has been built in order to record data and to be able to answer (Frequently Asked) Questions.

Research questions• How can the Accommodation Choice model being improved furthermore?• Whatcanwelearnfromofficeaccommodationsanddecisionmakingprocesseswhenusing

the four steps in the models and related tools for data collection and decision support?• Areorganisationswillingtosharedataabouttheirofficeaccommodationandworkplace

decision making processes?• Ifso,whichprojectdatacouldbeaddedtothepresentdatabase?• Which questions can be answered by statistical analysis of the database?

Contact


01.west.720+31 15 278 2974



Ongoing research of the Center for People and Buildings (CfPB)

www.cfpb.nl


How can the Accommodation Choice Model being used to support workplace strategies and workplace management/

decision making?


8.3 From Red to Green


Key publications: No particular reports or papers have been published about this project so far. At the Center for People andBuildingsinDelftanumberofminutes,presentationsandliteraturereviewsareavailableofthesubjects that have been discussed in expert meetings.

Contact



Thepercentageofemployeesbeingsatisfiedordissatisfiedwiththeworkenvironmentshowstobeverydifferentindifferentoffices.Thisprojectsearchesforexplanationswhythese differences occur, which measurements could enlarge satisfaction level and decrease dissatisfaction,andwhatwillbethecostsandbenefitsfortheorganisationregardingrealestate and facilities costs, image, productivity and so on.

Theresearch isbeingconductedby theCenter forPeopleandBuildings.TheresearchstrategyincludesexpertmeetingswithrealestateandfacilitymanagerstodiscussfindingsfromWODI-evaluations–casebasedandcross-case,reflectionsbyspecialistsandsitevisitstodifferentoffices.

Research questions• Whyareparticularofficebuildingsappreciatedsohighlybytheendusersandother

ones are much less appreciated?• What measurements could increase user satisfaction?• What will be the effects of these measures on other organisational goals and objectives

and what will be the costs and revenues of Real Estate and FM interventions?


Ongoing research of the Center for People and Buildings (CfPB)

www.cfpb.nl


How can work environments being improved to satisfy the end users and what are the costs and benefits for the organisation?


9 . Conversion of office buildings

Key researchers: dr. H.T. Remøy, MSc

Key publications: • Remøy,H.(2010).Outofoffice:astudyofthecauseofofficevacancyandtransformationasa

meanstocopeandprevent.Amsterdam:IOS.• Remøy,H.,&VanderVoordt,T.(2007).Conversionofofficebuildings;across-caseanalysis.

PaperpresentedattheBSA2007,Tokyo.• VanderVoordt,D.J.M.,Geraedts,R.P.,Remøy,H.,&Oudijk,C.(Eds.).(2007).Transformatie

van kantoorgebouwen thema’s, actoren, instrumenten en projecten. Rotterdam: Uitgeverij 010.• Wilkinson,S.J.,&Remøy,H.(2011).Sustainabilityandwithinuseofficebuildingadaptations:

acomparisonofDutchandAustralianpractices.Paperpresentedatthe17thAnnualPacificRimRealEstateSociety(PRRES)ConferenceJanuary2011,GoldCoast.

Conversionisawayofactivatingandreusing(structurally)vacantandobsoleteofficebuildings.Moreoverconversionofobsoleteofficebuildingscanhelpreducethelevelofvacancyintheoffice market. Within-use adaptation and across-use transformations are possible forms ofconversions. Former research (Van der Voordt et al. 2007; Remøy 2010) has shown possibilities for transformation for residential purposes through theory and practise, and has delivered instruments fordetermining the residentialconversionpotentialofvacantbuildings. Insteadofaddingnewbuildingstotheofficemarket,existingofficebuildingscouldbeadaptedandupgraded to fit the needs and wishes of new office users, considering issues like energyefficiencyandthenewwayofworking.Adaptingexistingofficescontributestoasustainablebuilt environment. New case studies, ex-post/ex-ante are needed to extend the current body of knowledge and to reveal opportunities and risks of transformations for developers.

Contact

Hilde RemøyAssistant Professor

01.west.720+31 639251229



R. Mackay, Bouwkosten van transormatieprojecten, 2007

R. Muller, De Amsterdamse Transformatiemarkt, 2008

M. Schalekamp, Herontwikkeling van kantoorterreinen, 2009

W. Schenk. Investeren in mogelijkheden, 2009

www.remoy.nl

related projects within REM

Hedonic studies of vacancy and willingness to pay,

Contact: Philip Koppels and Hilde Remøy

To which extent is conversion a viable way of reusing

structurally vacant office buildings?


9.1 New office concepts in existing buildings – the lifespan of office buildings


Key publications: • Remøy,H.,DeJong,P.,&Schenk,W.(2011).Adaptableofficebuildings.PropertyManagement,

29(5). • Remøy,H.,&VanderVoordt,T.(2011).Redesign:upgradingthebuildingstocktomeet(new)

userdemands.PaperpresentedattheMISBE2011Amsterdam.• Wilkinson,S.J.,&Remøy,H.(2011).Sustainabilityandwithinuseofficebuildingadaptations:

acomparisonofDutchandAustralianpractices.Paperpresentedatthe17thAnnualPacificRimRealEstateSociety(PRRES)ConferenceJanuary2011,GoldCoast.

Since2001,thevacancyintheDutchofficemarkethasincreasedandmid2011approximately14% of the office space is vacant. A study of the Amsterdam officemarket revealed thatvacancyconcentratesinlocationswithlowstatusandalackoffacilitiesandinflexiblebuildingswith low architectural quality. Also sustainability is becoming an increasingly important issue. The ‘Rijksgebouwendienst’ (governmental building agency) will only rent buildings with anenergy-labelCorhigher,whilemanyexistingofficehavelowerlabels. Insteadofaddingnewbuildingstofitthedemandofofficeusers,existingofficebuildingscouldbeadaptedandupgradedtofittheneedsofnewofficeusers,consideringissueslikeenergyefficiencyandthenewwayofworking.Adaptingexistingofficescontributestoasustainablebuiltenvironment.On-goinggraduationprojectsdefinetheinfluenceofthenewwayofworkingonthepreferencesofofficeusers. Theeffectoflongerormultiplelifespansonsustainabilityisapparent,andthespecificeffectofadaptability on sustainability could be studied by Life Cycle Assessment (LCA) models, making it possibletocalculatethesustainabilitybenefitsofdifferentdevelopments,justlikeitispossibletocalculatethefinancialbenefits.TheaimoftheresearchistodevelopLCC(lifecyclecosting)and/or LCA models focusing on costs and/or sustainability.

Contact


01.west.720+31 [email protected]: Monday to Friday


W. Schenk, 2009: Investeren in mogelijkheden

www.remoy.nl

related projects within REM

Hedonic studies of vacancy and willingness to pay,Contact: Philip Koppels and Hilde Remøy

What are the costs and benefits of adapting existing offices for new use, compared to redevelopment (demolition and new construction)?

Which effect does a longer life span have on the sustainability of office buildings?


9.2 A study of structural vacancy and Willingness to pay in the Rotterdam or Utrecht office market

Key researchers: dr. H.T. Remøy, MSc. and drs. Philip Koppels

Key publications: • Koppels,P.,Remøy,H.,&DeJonge,H.(2009).Theaddedvalueofimage:ahedonicofficerent

analysis. Paper presented at the ERES 2009, Stockholm. • Remøy,H.(2010).Outofoffice:astudyofthecauseofofficevacancyandtransformationasa

meanstocopeandprevent.Amsterdam:IOS.• Remøy,H.,Koppels,P.,&DeJonge,H.(2009).Keepingupappearance.RealEstateResearch

Quarterly 8(3), 6.

14%oftheDutchofficesarevacant.Structuralvacancyisaproblemforownersasitcausesvalueloss and a societal problem of degeneration, property depreciation and downwards spiralling developmentsofofficelocations.Moreover,vacancyrepresentsathreattoasustainablebuiltenvironment,asnewofficespace isaddedwhileexistingofficespace isalreadyredundant.Officevacancyiscausedbymismatchofdemandandsupply,quantitativelyandqualitatively.Officeusersprefersomeofficestoother,basedonphysicalbuildingandlocationcharacteristics.AstudyoftheAmsterdamofficemarketrevealedthatlocationswithlowstatusandalackoffacilitiesandinflexiblebuildingswithlowarchitecturalqualityareleftvacant. Nexttostudyingstructuralvacancyintheofficemarket,thedatacollectedcanalsobeusedasinputforastudyonofficeusers’willingnesstopayforspecificattributesoftheofficebuildingand its location. Quantitative research methods, regression techniques, hedonic pricing techniques. A large sampleofofficebuildingsisneeded;atleast100independentbuildingsfromoneofthelargestDutchofficemarkets.50%shouldhavemorethan30%vacancy.ThebuildingstobestudiedmaybeidentifiedfromthetransactionandsupplydatabasesofDTZorequivalentdatabases.

Contact


01.west.720+31 639251229



W. Muijderman, 2010: To rent or not to rent; determinants of structural

vacancy in Haarlemmermeer

S. Messlaki, 2010: The influence of vacancy on the nearest neighbour

www.remoy.nl

What is the relationship between specific building and

location characteristics and structural vacancy?


9.3 Transformations in Rotterdam – in cooperation with Rotterdam Municipality and Veldacademie


Key publications: • Remøy,H.(2010).Outofoffice:astudyofthecauseofofficevacancyandtransformationasa

meanstocopeandprevent.Amsterdam:IOS.• Remøy,H.,&VanderVoordt,T.(2007).Conversionofofficebuildings;across-caseanalysis.

PaperpresentedattheBSA2007,Tokyo.• VanderVoordt,D.J.M.,Geraedts,R.P.,Remøy,H.,&Oudijk,C.(Eds.).(2007).Transformatie

van kantoorgebouwen thema’s, actoren, instrumenten en projecten. Rotterdam: Uitgeverij 010.

Proposal:

The Municipality of Rotterdam recently initiated a pilot-project aiming to reduce the vacancy-levelintheRotterdamofficemarket.Thepilot-projectfocusesontransformationofstructurallyvacantofficebuildings,discussingthepossibilitiesandthreatsthatmarketpartiesencounterwhen transforming buildings for new use. The pilot-project agreement was signed by the municipality and 20 market parties, mainly developers. The Veldacademie has been approached bythemunicipalitytostudythetransformationpotentialofseveralofficebuildings.Unlikeothermarkets, Rotterdam has a high level of vacancy in and near the city centre, like in the area Wijnhaven,betweenthelargerstreetsBlaakandBoompjes.Themunicipalityseesthevacancyin these areas as problematic, because of the prominent location in the city centre and the negative effect that obsolescence seems to have on the value-development in the area.

Research method, technique and tactics:

Case studies ex-ante is an important part of this research. The studies should focus on the financialfeasibilityoftransformations,andshouldalsoincludefunctional,technical,aesthetic,legal and sustainability issues. Finally, the research could delve into the possibilities for improving thetransformationpotentialofofficebuildingsbyinterviewingdevelopersoractorsthatcouldinfluencethetransformationpotentialonamacroscale,likeinvestorsandmunicipalities.

Contact


01.west.720+31 [email protected]: Monday to Friday

related research subjects R.Muller, 2008: De Amsterdamse transformatiemarkt

www.remoy.nl

To which extent is residential transformation of offices in the centre of Rotterdam viable?


10. Briefing and evaluation

Key researchers: dr. ir. D.J.M. van der Voordt, dr. Alexander Koutamanis (BI) and dr. J. Heintz (DCM)

Key publications: • Bogers,T.,Meel,J.J.,&VanderVoordt,D.J.M.(2008).Architectenvisieophetprogrammavan

eisen. Facility Managament Magazine Jaarboek, 2008, 2-7. • Bogers,T.,Meel,J.J.,&VanderVoordt,D.J.M.(2008).Architectsaboutbriefing.Facilities,

26(3/4), 109-116. • VandenBerg,S.,VanderVoordt,T.,&VanDoorn,A.(2010).Maakuwprogrammavaneisen

flexibelerenmeertoekomstgericht.ZMMagazine,2010(najaar).• Van der Voordt, D. J. M. (2009). Quality of design and usability: a Vitruvian twin. Ambiento

Construido, 9(2), 17-29. • VanderVoordt,D.J.M.,&VanWegen,H.(2005).Architectureinuse;anintroductiontothe

programming, design and evaluation of buildings. Oxford: Elsevier, Architectural Press.• Wijk,M.(2004).Bouwstenen;gidsbijhetmakenvaneenprogrammavaneisen.Rotterdam:

StichtingBouwresearch.

Contact


01.west.720+31 15 278 2974


Thisresearchprojectaimstoimproveourunderstandingofbriefingprocessesandtheuseandimplementabilityofdatafrombuildings-in-usestudiesinbriefingandpre-designresearch.Originally a brief is a static list of spatial and technical requirements that is delivered by the client to inform the designer(s) about what kind of building they want. During the design process possible inadequacies in the brief are dealt with in a direct dialog between the client and the architect. However, building processes change due to the turbulent real estate market. More and more shareholders and stakeholders are involved. A huge variety of aspects need attention, such as flexible andmultifunctional use, sustainability issues and lifecycle costs.Overallthebuildingprocessgetsmorecomplex.Inordertomanagethecomplexityandtobeable to control the building costs and quality, a brief can no longer be a static list or a one to one dialog.Ithastobeadynamicandtransparentdocumentforallpartiesinvolved.Asaresulttheformandfunctionofthebriefisgraduallychanging.Briefinganddesigninggomoreandmorehand in hand, leading to different types of briefs, e.g. an urban brief, strategic brief, project brief,fit-outbriefandfurniturebrief.

TechnologicaldevelopmentsinICTandmultimediagivenewopportunitiestosupportbriefingby 2D and 3D schemes and computer animations and allow changes that can be traced by differentstakeholders.Animportantinputforthebriefingprocessisbothpre-designresearch(e.g. analysis of organisation characteristics, user preferences and working processes) and results from Post-Occupancy evaluations. Up until now insufficient use is made of lessonslearned by experience and use of buildings-in-use, user surveys, and experience from real estate managers and facility managers. The aim of this research project is the inventory and further development of ideas, data on user preferences and experience and use of actual buildings, research methods and decision support tools.

Who is and should be involved in briefing?

Which stakeholders and disciplines are and should

be involved in evaluation research?




11. Function – Form – Finance - Future

Key researchers: drs. P.W.Koppels and prof. ir. H. de Jonge

Key publications: • Koppels,P.,&Soeter,J.P.(2006).Themarginalvalueofofficepropertyfeaturesinametropolitan

market.PaperpresentedattheTheSixthInternationalPostgraduateResearchConferenceintheBuiltandHumanenvironment,Delft.

• Koppels,P.,&Soeter,J.P.(2006).Themarketvalueofofficefeatures.Paperpresentedatthe13th annual European Real Estate Society Conference, Weimar.

Inallmarketsqualityandrevenuesareconsideredtobeconnected.Inthefieldofrealestatethe “quality” of the location is considered an important determining factor for the realised rent levelandassetprice.However,thecharacteristicsofofficepropertythatrelatetotheofficebuilding have received less scientific interest. It is reasonable to assume that not only thequality of the location matters, but also the features and the associated quality level of the officebuildingitself.Theobjectofthisresearchprojectistodeterminetheinfluenceofofficebuildingfeaturesonthewillingnesstopayoftheofficeuser.

Thecurrentsellers’marketcondition,wherebyofficespacesupplyexceedsofficespacedemand,hashighlightedthesignificanceofofficebuildingfeatures.Marketreportsaboutoutdatedofficebuildings,duetothelocationortheofficebuilding,havefurtherincreasedtheawarenessfortheimportanceofofficebuildingfeatures.Anofficebuildingcanbecomeobsolete,andremainvacant, because its features do notmeet current occupiers’ requirements. In less extremecases,occupiersderivelessutilityfromtheofficebuildingandarewillingtopayless.However,whatarethemainfeaturesoftheofficebuildingthatdeterminethewillingnesstopay,whatistheirrelativeweightandhowdothesefeaturesrelatetothebuildingcosts?InJanuary2005aPhD-research project has started to answer the previous questions.

The individual featuresofofficebuildingsarenot traded independentlyon themarket.Twoprincipal methodologies exist for determining the willingness to pay for products (or integral product features) that are not traded on the market; the revealed preference approach and the stated preference approach. Hedonic price models, a revealed preference method, have been widelyutilisedtodeterminethepriceof individualofficefeatures.Variousstatedpreferencemethods have also been applied to the real estate market. Stated and revealed preference methods have their advantages and disadvantages; a combination of both methods is applied during this research project.

Insightinthepreferencesofofficespaceusersregardingtheofficebuildingfeaturesandthepricetheyarewillingtopayforthesefeaturesisbeneficialfordevelopers,investors(landlords),governments and for the users of office space. First, it enables developers to establish arelationshipbetweendesigndecisionsand thefinancialperformanceofofficeproperty.Thisenablesdeveloperstorelate investments inthequalityoftheofficebuildingtothefinancialperformance of the property. Second, it increases the transparency of the real estate market for office space users. Consequently, it provides qualitative asset selection criteria for theinvestment portfolio of investors. To conclude, it enables assessment of the quality of the existingofficestockandfacilitatesofficestockpolicythatfullyutilizesthepotentialofexistingofficestock,whichisbeneficialforspatialplanning.

What are the main features of the office building that determine the willingness to pay, what is their relative weight and how do these features relate to the building costs?

Contact

Philip KoppelsAssistant Professor




RE&H DepartmentReal Estate Management Lab

Responsible Full Professor:Hans de Jonge

Coordinator:Theo van der Voordt (C/P REM)[email protected]

September, 2011

Design: FCM


corporation & cities

Delft university of technologyreal estate & housing department transformation

master thesis subjects2011

bk thesis

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real estate of social

private real estate

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