The thought of BIDs came from an improvement scheme which was first intorduced in Canada. The principles of the scheme were to form a partnership between local businesses all with the view to boosting the local economy and development within their designated area. The thought was adopted in the US and became increasingly well loved throughout the United States in the late 1970s.

The BID follows the same concept first introduced in Canada with local businesses forming an agreement or partnership to improve the local economy within a defined area. All members of the BID contribute funding in to a levy which is used to achieve the goals. In addition to this the Scottish Government is also prepared to provide a grant of up to £20,000 for the levy. It must be emphasised BIDs are not a substitute for Local Authority spending and Local Plans in that area but as an addition to these with involvement from the businesses who occupy this area and are most effected by plotting and development in the area. The scheme brings the council authorities and local businesses together on working towards the same goals for the area. Businesses can identify their priorities and opinions on what is needed in the area.

The BID is most commonly formed in an agreement between all the businesses. The BID will last a maximum of 5 years usually with the terms of the agreement being dissolved at the end of this period and a new mandate under new terms being executed. There are currently 8 active BIDs throughout Scotland including Inverness, Glasgow and Edinburgh city centres. There are another 8 BIDs in the process of formation.

Essential Edinburgh was Scotland’s fifth BID introduced in the Capital in July 2008. The initiative is the second largest BID in the UK covering an extensive area of the City Centre spanning the whole of Princes Street, George Street and including St Andrews Square and St James Centre. Essential Edinburgh has been formed with the sole purpose to enhance working, visiting and shopping within the area. One example of its introductions are The Ambassadorial Essentials, these are teams of people in distinctive purple uniforms who walk the streets of the area during the day. Their key roles include providing information to visitors, enhancing the ambience of a safe and welcoming environment and also have radio communication with Lothian and Boarders Police.
The concept of Business Improvement Districts is a fantastic way for businesses to come together as a community and apply what they reckon is needed to benefit the area.

The concept of a Green Belt policy was identified post World War Two when the construction and development of buildings increased significantly. New residential developments, hospital and amenity buildings were being constructed at a quick pace. Concerns arose over the preservation of the natural landscape and expansion of major cities. It was indentified something had to be done to monitor and control the rate of growth in and around the cities and to prevent coalescence.
Sir Frank Mears a highly influential figure in Town and Country Plotting in Scotland first brought forward the thought in 1948 in the Regional Survey and Plot for Central and South-East Scotland. He identified the need to distribute development to the most appropriate locations, protect the character of the landscape and provide open space and green space in and around towns and cities. The first Scottish Green Belt policy was officially introduced in Edinburgh in 1957.
“The objectives agreed by the participating local authorities in 1956 were:

• to help in limiting further expansion of the city;
• to prevent the merging of built-up areas;
• to prevent the use of agricultural land for development;
• to preserve and enhance the landscape setting of the Capital

Since the introduction of the Edinburgh Green Belt other cities and towns throughout Scotland have followed introducing their own Green Belt policies under similar objectives.
Looking in more detail at the Edinburgh Green Belt Policy it has been constantly under review and scrutiny with modifications and adaptations introduced over the years, but the original boundaries have not been significantly changed. In a review in 1965 areas classified as green fingers were added to the policy, such areas included Corstorphine Hill, Holyrood Park and Water of Leith Valley.
In terms of Plotting Law the Green Belt Policy has played a very influential role with restriction on Plotting and Development. Local authority planners do not want the view that the policy identifies an area of land that can’t be touched or built on, but to encourage development within established areas and make sure land it place to the best possible use.
In terms of Plotting Law the green belt policy will highly influence development around cities. The policy is referred to during the formation of Local Plans for guidance on the most suitable areas for development. This statement emphasises the Green Belt Policy is not constitute development boundaries but one of the prime objectives is to control development around cities. A clear example of this is the West Edinburgh Plotting Frame (WEPF). A long term structure plot made by Edinburgh City Council, The Scottish Executive/Government and Scottish Enterprise. The west side of the city provides the principle gateway from the rest of the country. A vast area of west Edinburgh includes designated Green belt but does contain developed sites such as Edinburgh Business Park and The RBS Headquarters. These sites were granted permission by plotting authorities after the conclusion this location was the most appropriate and would not affect the character of the surrounding area as much as it might have on different parts of the Green Belt.

The policy provides a useful context to regulate development in and around cities. Without the policy it would be a lot harder to control the level of development and preserve the natural landscape.

Many will question themselves this question at some stage in their life. Although it can come down to the simple fact of having the deposit saved to buy your own place or not, don’t jump on the ladder solely because you have some extra cash.

The Credit Crunch
The UK Property market has witnessed an eventful period to say the least over the last two years with the “Credit Crunch”. One of the prime contributes to the Crunch was excessive leading. Three years ago if you had a excellent credit history you could raise finance on just about anything within reason. Mortgages were being offered at up to 125% on the valuation of the property you were purchasing, for example you could borrow £125,000 over a property only worth £100,000. This type of financial environment could not last and did eventually come crashing down. Banks have gone under, Huge name retailers have gone into liquidation, unemployment increased heavily throughout the UK and property prices took a battering. Now the market seems to be recovering and the worst of the recession is over.

The Current Situation
Now the economy is recovering with unemployment figures dropping and house prices stabilising it seems we are back on the right track to sustainable economic growth in Britain. But we have learnt a very vital lesson over the last two years which can simply be described as “Living within our means”. Of course the recession is not entirely down to excessive lending but this did play a huge factor.

Lending has seriously tightened up with 85% borrowing being the maximum loan ratio in most causes unless you are willing to accept an extortionate interest rate. Although the base rate is at a record low this does not reflect in first time buyer mortgages with average interest rates just over 5%. House prices have been hurt in the recent years with the press releasing concerning percentage drops in prices. This aside purchasing a property is still seen as a sound investment and is one of the largest transactions you will make in your lifetime.

Not only the small factor of requiring a large deposit sum, renting a property provides you with minimum risk. As a tenant you are not liable for common repairs such as external maintenance and roof leaks which can easily cost thousands. You are footloose to a certain extent with flexibility should your circumstances change. Property is available fully furnished taking the hassle out of kitting the place out yourself. The advantage of renting also gives you a much wider choice of property at a higher quality which you may not be able to afford should you look at buying.

 

When it comes to commercial property listings, there are many ways you can find a list of properties that are available. Some will offer a more personal touch than others. Depending on what your goals for property investing are, you might find that some offer a few impressive benefits over the others. There are three main types of listings for commercial properties utilized these days that you might want to explore if you plot to invest in real estate.

 

Investment Forums and Online Message Boards

 

The world of real estate investing has gone modern and is easily managed through the wonders of the World Wide Web. You can find many brilliant resources, groups, and sites that are dedicated to outlining available properties in regions around the world. You will find that many also offer advice, tips, and guidance for getting started. Remember, though, to always double check any information you find online to verify its accuracy before putting it to work for you in your property investing efforts.

 

Real Estate Classifieds

 

These are a small less wide reaching because you do not have access to every newspaper in the country or around the world. More importantly, you really don’t have time to sift through all that information in order to find the perfect properties for your investment needs.

 

Commercial Property Realtors

 

This is by far the best choice for you if you are serious about finding the best commercial property listings quickly. A qualified realtor who specializes in commercial properties is a simple solution for your real estate needs. The right realtor will help you identify potential winners among properties available in your area and connect you with resources far and wide to help handle transactions elsewhere.

 

Only you can choose what the best solution for you is, but when it is your future on the line, it is worth taking a small time to find a qualified realtor to help you seal the deal.

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