Appraising the functional performance characteristics of office buildings

Abstract

The problem of building obsolescence and its relationship with depreciation within office investment portfolios is shown to relate to the changing characteristics and requirements of tenant organizations globally. Building appraisal techniques are introduced as powerful tools used by management to analyse the characteristics of office properties and identify potential problem areas that necessitate modernization. A methodology used for research into the functional performance characteristics of City of London office properties is illustrated as a means of collecting information suitable for the development of decision support models. Analysis of results from statistical and artificial intelligence models shows that office building design quality characteristics and tenant organization work practice typologies can be used to explain functional performance as perceived by occupiers. The paper establishes that user-based building performance data can be modelled effectively and is applicable in a range of management activities particularly those which attempt to counteract obsolescence and consequent depreciation.