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Gives background to the Urban Development Grant (UDG), with
particular reference to Northern Ireland. Considers some examples of the
application of UDG in central Belfast. Evaluates the effect of UDG on
the core of Belfast. Concludes that UDG has made significant
developments possible in the core of Belfast, but at a high cost to the
public sector.

Reviews institutional decision making and the role of property within a multi‐asset portfolio. Discusses diversification strategies by sector and region as a means of reducing or managing risk. Indicates the mismatch that can occur between the perception of risk, current market performance and targeting of investment activity by sector. Geographical diversification is apparent by region but not by subregion in the UK. In contrast investment into European markets is weak with particular concerns relating to currency fluctuations, taxation, lease structures and asset pricing.

Examines fiscal measures as a means of stimulating commercial
development in inner city areas. Shows that the coupling together of
planning and regeneration issues with financial policy stimulates the
demand side by providing incentives to owner‐occupiers, investors and
lessees. Analyses taxation profiles to indicate the potential saving
available to the different actors and considers short‐term and
longer‐term impact on the market.

Compares two approaches to waterfront regeneration – the
Custom House Docks scheme in Dublin and the Laganside scheme in Belfast.
Discusses the background to regeneration initiatives as a means of
promoting inner city renewal. Concludes that Custom House Docks has been
able to institute development at a reasonable pace whilst Laganside may
require the status of Enterprise Zone designation.

Looks at mechanisms to encourage the growth of the small industrial
sector in Northern Ireland. Evaluates the respective ideas of enterprise
agencies and the private developers′ scheme, together with opinions of
users (tenants) and developers. Concludes that slow rental growth means
that grant assistance is necessary to ensure a moderate level of return
to the developer.