Article Abstract:
Hypermarkets entered the petroleum retailing market in the UK during the 1970s. The number of hypermarkets selling petrol has increased steadily since then, rising to around 649 sites at end-1993. Hypermarket retailers account for around 15% of Britain's total fuel sales and are expected to reach 20% by end-1995. The number of hypermarket petrol forecourts has resulted in increased price competition in the industry and has caused a reduction in the total number of sites in the UK. An overview of the petrol retailing market is presented, plus an examination of some of the problems encountered by valuers.
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Article Abstract:
There are significant challenges facing surveyors negotiating ground rent reviews on petroleum stations in the UK. Assessing a site's performance is complicated, needing a traffic count and competitor analysis. In many cases, it is not appropriate to supply fuel-throughput figures for sites when negotiating ground rent reviews, which operate on the assumption of a 'cleared site.' The work of surveyors is being made more difficult by the fact that petroleum station operators are responding to increased competition by introducing features such as cash dispensers and fast food outlets.
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Article Abstract:
The U.K.'s new Environment Act has serious implications for many property professionals, particularly those involved in valuing contaminated land. It is essential that valuers recognise the part that contamination plays in valuing a property for a client. An outline of some best practice approaches that valuers can apply when handling valuations of contaminated land is presented.
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