Revenue losses are offset by the fact that open space drastically increases the property value of nearby urban development.
ECONOMIST: Clever ways to save land in the newly populous West
Boasting 2, 054 square feet of living space, 4 bedrooms and 3 bathrooms, this Leavenworth property gives a buyer quite a bit of bang for the buck.
First-class existing buildings are priced to yield only around 5% to an all-cash buyer, says research firm Green Street Advisors. (The return they talk about is rent minus the costs of operating and maintaining the building and leasing any empty space.) But a skillfully developed new property can bag an annual cash return of up to 10% of its construction costs.
This is the home of the Patent Records Office, 4, 600 square meters of storage space hewn out of solid rock, the last repository of America's intellectual property.
It will occupy only a third of the 75, 000 square metres of retailing space, making it as much a property manager in Osaka as it will be a shopkeeper.
Swire's property portfolio is heavily weighted towards office and retail space in some of the city's prime locations on Hong Kong Island, including Pacific Place and Taikoo Place.
Each individual boutique reflects the ambiance and culture of each resort destination, seamlessly integrating the retail space into the property itself.
According to the consortium's property advisers, Insignia Richard Ellis Research, only 5.38 million square feet of office space is currently available in central London, an historic low.
Built in 2008, the property is a five-bedroom, five-bathroom Cortijo-style villa with 7, 290sqft of space.
The property continued his environmental legacy by setting aside some 75% of its 1, 400 acres as green space.
By buying the property at a fraction of its replacement cost, the KKR venture will have capital to invest in building space for new tenants.
Some of that same space has since been taken over by UC, Santa Cruz, which pays no property taxes.
Instead, astronomers are now faced with vast quantities of data. (The Hubble Space Telescope alone churns out 2 billion bytes per day.) Traditionally, observations remain the exclusive property of the astronomer who made them for one year.
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