The 1985‐1995 Property Cycle, the Finances in Olympia and York, and Property Investment Criteria Available to Purchase

Discusses the nature of the property cycle. Charts the course of financial success and failure of Olympia and York. Discusses the restructuring of over‐indebted property finance. Reviews the state of investment appraisal in literature and in some spheres of practice. Argues the cause and reason for widening reforms in property finance and property investment appraisal. Stresses that the paper is applicable only to developed countries, not developing countries or the transforming socialist countries. Claims a primary significance for those holding and owning commercial offices as an investment.