Ke, Qiulin;
(2024)
The economic value of end-of-trip facilities for cyclist commuter in an office building.
Journal of Property Research
10.1080/09599916.2024.2403979.
(In press).
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Abstract
The paper aims to investigate whether the presence of cycling-supportive facilities could add value to office buildings. Cycling to work offers numerous advantages for individuals, employers, the environment, and society, ranging from improved physical health, wellbeing and productivity to enhanced public health and reduced carbon emissions. However, the absence of secure bike parking and storage and shower and changing facilities (referred to as end-of-trip facilities) at workplace is identified as one of the hindrances to prevent more people from cycling to work. In this paper, we investigate whether office occupants are willing to pay rent premium for the end-of-trip facilities in an office building. The study uses data of office buildings across England as of the end of 2021. Hedonic technique is employed to examine whether office buildings with bike storage and shower facility command a rent premium. It is found that the buildings with bike storage and shower facility secure rent premiums, irrelevant of size and age of building and independently from any premium associated with BREEM certification. The level of rent premiums varies with location and region and is mainly driven by the shortage of the supply of these facilities.
| Type: | Article |
|---|---|
| Title: | The economic value of end-of-trip facilities for cyclist commuter in an office building |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1080/09599916.2024.2403979 |
| Publisher version: | https://doi.org/10.1080/09599916.2024.2403979 |
| Language: | English |
| Additional information: | © 2024 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent. |
| Keywords: | Rent premiums; cycling to work; bike storage; shower facility; office building |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10197060 |
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