Article Abstract:
The IRA bombing of the City of London in Apr 1992 prompted many leading insurance companies to withdraw from the office building insurance sector, leaving the government to take action. A mutual company, Pool Re, was formed in Jan 1993 to reinsure against terrorist damage. This came shortly before the Bishopsgate bombing, which cause damage worth almost 700 million pounds sterling. The UK's commercial property is now at less risk following the IRA ceasefire, and Pool Re has therefore cut premiums.
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Article Abstract:
It is becoming increasingly common for business park developments to be undertaken on a speculative basis in certain parts of the UK, according to Grimley's 'Business Parks Review' for autumn 1997. There has been a continued decline in vacancy rates in most parts of the country, and for the UK as a whole vacancy is now at 6% of total stock. Overall letting has fallen below the very high levels seen in the first half of 1996, but take-up levels have remained very similar to those of 1996.
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Article Abstract:
There are mixed views on sick building syndrome (SBS), with some employers regarding it as existing only in the imagination of employees, although studies have failed to provide conclusive evidence that it does not exist. However, most companies now acknowledge that a badly controlled internal office environment can have bad effects on staff motivation and productivity. Employees particularly value natural daylight, while many would prefer not to work in an air-conditioned environment.
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